A Management-Style Report Essay Example | Topics and Well Written Essays - 2750 words

A Management-Style Report - Essay Example Strategy has been stated to be a guide or idea which provides consistency to the resolutions made collectively by the organisation. Strategic management refers to the process of efficiently and innovatively employing the resources of production such as manpower, machinery and materials in an organisational process. This effective and effectual engagement of resources would enable the organisation to develop effectual strategies which would facilitate the company to earn profits along with competency. Stating precisely, strategies are developed to enable the organisation to survive in the future (Scribner, 2011). From a broad perspective, strategic management is considered to be a process which entails five different aspects. Firstly it involves the need of recognising the requirements of an organisation that is necessary to be achieved. With this purpose, the objectives of the organisation are taken into concern and then the identified requirements are associated with the objectives. Secondly, an analysis is conducted of the internal as well as the external business environment so as to obtain an understanding of the factors which can be either termed as positive or negative. Thirdly, a strategy is being developed based on the evaluation and recognition of the problems. The strategy is designed according to the priority of the issues. Fourthly, the strategy is planned to be put into practice by gathering the needed resources as well as commitments required to proceed with the strategies with the purpose of attaining the desired outcomes. Last but not the least is the stage of screening or monitoring those strategies. Monitoring the strategies also helps in understanding their effectiveness and making any needed alterations (Grant, 2005; Scribner, 2011). The aim of the paper is to assess the present strategic position of Toyota along with ascertaining its resources and capabilities which helps the company to attain competitive advantage over its competitors and ensure its existence in the industry. However, certain strategic issues of the company would also be assessed which could have an adverse affect on the success of Toyota in the long run and certain recommendations would be made in that context. 2.0. Toyota’s Current Strategic Position 2.1. Toyota’s Environment Strategy refers to the process of harmonising an organisation’s competencies and resources with the prospects that are observed to take place in the external surroundings. Toyota is a Japanese car manufacturing company and mainly caters to the market of Japan. However, in the period of 1980 and 1990, Toyota planned to invade the car market of North America. It was successful in capturing the North American market along with entering the Western European market as well which was followed with the intention to be a global leader. Soon Toyota was seen to capture the U.S. market in-spite of the presence of strong players like DaimlerChrysler, General Motors (G M), and Ford. The key to this