Toyota Mission Statement | Vision | Values | Philosophy (2024 Analysis)

Company: Toyota Motors
CEO: Akio Toyoda
Founders: Kiichiro Toyoda
Year founded: 1933
Headquarter: Aichi, Japan
Number of Employees (2019): 370,870
Type: Public
Ticker Symbol: TM
Annual Revenue (March 2018): 30.23 T (Japanese Yen)
Profit |Net income (March 2018): 1.88 T (Japanese Yen)

Products & Services: Automobile (vehicles, engines, car air-conditioning compressors, and car electronics) | materials handling equipment | textile machinery | Financial Services
Competitors: Ford | Volkswagen | Hyundai | General Motors | BMW | Maruti Suzuki | Nissan | Honda | Tata | Renault | Tesla

Did you know that the Toyota Company started by selling sewing machines, not automobiles?

The key factor in achieving long term success is by introducing in-demand products, which will be a success in the market. Toyota Industries has time after time proven that they are this rare successful golden egg in a world full of economic fluctuations, bankruptcy, and failed startups. For a company with a history of more than a century and current net worth of over $180 billion, one sure can learn a lot about success by analyzing them.

Toyota’s Vision Statement

Toyota Motors has established a new vision statement for its company, which is as follows:

What it means

• Leading the way

Toyota believes in creating new opportunities and grasping any opportunity that comes their way and investing in the future.

• Creating the future of mobility

The company wants to create technology that will help shape future forms of mobility. They plan to do this by linking people with technology

• Enriching lives around the world

The organization believes in giving back to society by creating more jobs and helping people.

• Moving people safely and responsibly

Customer safety is a top priority for Toyota Motors.

• Commitment to quality

One of the critical elements in the long-run success of the company is its commitment towards producing goods and services of top quality.

• Ceaseless innovation

Toyota stays ahead of its competitors by continually investing in research and development that gives its products and services an advantage over the competition.

• Respecting the planet

Toyota is a firm believer in using renewable sources of energy and cutting down its emissions to almost zero. Their product oxygen supplying air compressor was one of the inventions that are a product of their vision.

• Exceeding expectations

Toyota believes in providing the product that gives customers their money’s worth and going above and beyond the customers’ expectations.

• Reward with a smile

The most important thing here at Toyota Motors is customer satisfaction. 

• Challenging goals

Toyota likes to think outside the box and challenge the norms. This attitude helps them come up with products that have never been introduced in the market before such as the hybrid car.

• Engaging the talent and passion of people

To make the best product, you need to work with the most talented people. This is why Toyota believes in hiring individuals who display professional excellence, amongst other things.

• There is always a better way

Toyota Motors expects its employees to do everything in a better way every day.

Toyota’s Mission Statement

Here is the mission statement of Toyota Motors USA:

Here is our analysis of the mission statement for Toyota Motors

 

• Attracting and Retaining customers by producing premium quality products

In today’s industry that has fierce competition at every level, a single mistake can drive down your share prices. Let’s take an example of Samsung phones, after the exploding Samsung S7 incident, a lot of customers lost faith in their products, and their brand image suffered. Therefore, Toyota wants to maintain the reliability of its brand and never compromises on the quality of its products or services.

• Be the most satisfying ownership experience in America

The most valuable asset for the company is its Customers. If the customers are happy with the products, revenue is being generated, and the company is growing. So, Toyota Motor’s top priority is the experience of the customer with the product, and they make sure that it’s a memorable one.

Toyota’s Values

The number one position of the Toyota as the “MOST ADMIRABLE CAR PART SELLERS” according to the FORBES 2019 list even after being on the global stage for more than a century, is an excellent testament to the values and the culture that the company instills in every one of its employees. The core values that the company holds very dear are stated below :

• Professional Excellence

• Customer Oriented

• Teamwork

• Welcoming new challenges

• Global Perspective

 

These 5 qualities are drilled into every employee so that such a culture could be promoted, which benefits not only the customers but also helps the employees and the company to grow. Toyota promotes a “Customer first” policy and considers customer needs in every decision they make.

The company endorses a culture in which top-notch professionals, those who are ambitious and welcome change, are always given preference. Toyota believes that employees should treat the company members as a family and turn the office space into a home-like atmosphere so that the employees can work in a calm, collected, and peaceful environment.

Toyota’s Philosophy

Toyota places great emphasis on morals and ethics, which is reflected by its company philosophy.

• The organization firmly believes that employees should be faithful while executing their duties. This behavior is essential for the long-term success of the company. –
• The employees are expected to be studious and practical while performing their duties or making any decisions.
• Furthermore, the company believes in creating a home-like atmosphere at work. This will lead to employees working more efficiently in a much calmer atmosphere.
• Toyota expects all of its employees to be grateful at all times for the opportunities blessed to them.

Conclusion

Toyota Motors have been the leading automobile giants for more than a century. It was their vision and mission, which helped them achieve this success but “What had helped them maintain it?”

Their Values as a company were always in the right direction, i.e., helping the employees, giving customers best possible products, giving back to society and helping the environment by cutting down on fuel consumption and industrial emissions.

Moreover, their strategies always pushed the company higher on the ladder of success, making it a success story it is today.

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