This is a solution of Business Strategy Assignment Help  that describes about Developing business

Introduction

Division of Business
Course: HND  Level 5  Business Year: 2013/14
Student Name:
UNIT 07:Business Strategy Lecturers Name:
Date Issued: 15th of February 2016 Completion Date: 3rd of June 2016
           Fail               Pass             Merit             Distinction

P1

1.1

P2

1.2

P3

1.3

P4

1.4

P5

2.1

P6

2.2

P7

2.3

P8

2.4

P9

3.1

P10

3.2

P11

3.3

P12

3.4

P13

4.1

P14

4.2

P15

4.3

P16

4.4

M1 M2 M3 D1 D2 D3

Learning Outcomes:1 Understand how to assess information and knowledge needs

2 Be able to create strategies to increase personal networking to widen involvement in the decision-making process 3 Be able to develop communication processes4 Be able to improve systems relating to information and knowledge.

Comments:

Assessor’s Signature:______________                            Referred                                        Date:______________

Late:            Yes            No Internal Verification:Yes           No

Business Strategy Assignment Help  I declare that the work I am submitting for assessment contains no sections in copied in whole or part from any other source, unless it is explicitly identified by means of quotation mark or by means of wholly indented paragraphs. I declare that I have also acknowledged such quotations by providing detailed references in an approved format. I understand that unidentified and un-referenced copying both constitutes plagiarism which is an offence. I give my consent for my work being scanned by Turnitin formatively and summatively for the purposes of assessment. Read more : Personal and Professional Development

Student Signature:                                                                                                                          Received:

Date:                                                                                                                                                     Date:

Learner Feedback Sheet

Student Name  

 

Assessors Name
Qualification HND Business Level 5
Awarding body EDEXCEL Unit name UNIT 07 : Business Strategy
LO 1 PROCESS OF STRATEGIC PLANNING
AC 1.1 Define the terms and state the mission, vision, objectives, goals and core competencies of Toyota?
Comments
PoMo

DoR o

AC 1.2 Describe the key issues encountered by Toyota in strategic planning?
Comments

PoMo

DoR o

AC 1.3 Compare and contrast two different planning techniques which you could apply to Toyota?
Comments

PoMo

DoR o

LO 2 BE ABLE TO FORMULATE A NEW STRATEGY
AC 2.1 Conduct an organisational audit by carrying out a SWOT analysis on Toyota
Comments

PoMo

DoR o

 

 

 

Evaluate Toyota’s business environment by doing a PESTEL analysis

 

AC 2.2

PoMo

DoR o

Comments
 

Define and explain the significance of stakeholder analysis

AC 2.3
Comments

PoMo

DoR o

AC 2.4 Present a new positioning strategy for Toyota
Comments
PoMo

DoR o

LO 3 UNDERSATND APPROACHES TO STRATEGY, EVALUATION & SELECTION
AC 3.1 Define four strategic options available and explain how they may be implemented within Toyota.
Comments
PoMo

DoR o

AC3.2 Using your analysis from Q3.1 recommend an appropriate future strategy for Toyota
Comments
PoMo

DoR o

LO 4 UNDERSTAND HOW TO IMPLEMENT A CHOSEN STRATEGY
AC 4.1 Focusing on your recommendation in Q3.2, compare the roles and responsibilities needed to implement the suggested future strategic plan
Comments
PoMo

DoR o

AC 4.2 Identify and evaluate resource requirements you will need to implement a new strategy within Toyota.
Comments
PoMo

DoR o

AC 4.3 From your responses in Q4.1 & Q4.2, create a Gantt chart that shows the activities required and timescales for the implementation of your recommended strategy. Discuss the activities and targets to monitor your strategy
Comments
PoMo

DoR o

Have all ACs been met by the learner? Yes Is Criterion based feedback given to

Learner?

Yes Overall Assessment Decision Distinction
Merit
No NO Pass
Referral
Fail
 

Assessors Signature

 

Dated

 EDEXCEL BTEC Level 5 HND Business

Unit 7: Business Strategy

TOYOTA’S BUSINESS STRATEGIES IN INTERNATIONAL MARKETS

Abstract:Toyota’s success both on the Japanese market and international market is due to its desire to make products with high quality. The Japanese believe that nothing is so good that it cannot be improved, so they constantly struggle to increase the quality of everything they do. This attitude can be expressed by a single word:”Kaizen”. It means “continuous improvement” and is the key word that guides them towards perfection.

  1. TOYOTA MOTOR COMPANY

Founded in 1937, Toyota Motor Corporation is a Japanese company that engages in the design, manufacture, assembly, and sale of passenger cars, minivans, commercial vehicles and related parts and accessories primarily in Japan, North America, Europe and Asia. Current brands include Toyota, Lexus, Daihatsu and Hino. Toyota Motor Corporation is the leading auto manufacturer and the eighth largest company in the world. As of March 31, 2013, Toyota Motor Corporation’s annual revenue was $213 billion and it employed 333,498 people.

  1. EXTERNAL ENVIROMENT OF AUTOMOTIVE INDUSTRY:

2.1. Industry Overview and Analysis

Toyota Motor Corporation competes in the automotive industry. The past five years were tumultuous for automobile manufacturers. Fluctuating fuel prices and growing environmental concerns have shifted consumers’ preferences away from fuel-guzzling pickup trucks to smaller, more fuel-efficient cars. Some automakers embraced the change by expanding their small-car portfolios and diversifying into the production of hybrid electric motor vehicles. Other automakers were more reluctant to shift their focus from big to small cars, expecting the price of fuel to stabilise eventually, bringing consumers back to the big-car fold

2.2. Industry Life Cycle

This industry is in the mature stage of its life cycle.

2.3. Industry Demand Determinants

Worldwide automobile demand is tied to vehicle prices, per capita disposable income, fuel prices and product innovation. On the supply end, vehicle prices stem from material and equipment costs, with higher steel and plastic prices raising manufacturers’ purchasing costs and, ultimately, retail prices. During the past five years, automakers have been plagued with fluctuating steel and plastics prices, which have affected manufacturing costs and product prices. On the demand side, per capita disposable incomes determine affordability for consumers.

  1. INTERNAL ENVIROMENT OF TOYOTA

3.1. Core Competency

The core competence of Toyota Motor Corporation is its ability to produce automobiles of great quality at best prices, thereby providing a value for money to the customers. This core competence of quality can be attributed to its innovative production practices. The quality aspect of Toyota’s products have revolutionized the automobiles in the past and almost all the automobile companies had to try and better the quality of their products. It is a cornerstone of the cost leadership strategy that the company pursues.

3.2. Distinctive Competency

Toyota’s distinctive competence is its production system known as the “Toyota Production System” or TPS. TPS is based on the Lean Manufacturing concept. This concept also includes innovative practices like Just in Time, Kaizen, and Six Sigma and so on. Toyota has worked tirelessly over the years to establish this distinctive competence. No other automobile manufacturer can do it as well as Toyota does. This distinct comp

  1. TOYOTA’S STRATEGY IN INTERNATIONAL MARKETS

Strategies used by Toyota in order to get success on selected markets to develop business and to impose on these markets are strategies most, created by Japanese specialists. The strategy that generally based both Toyota Company and most Japanese companies is KAIZEN business strategy which means continuous improvement and the impact that it has on the level of product quality. ”KAIZEN” is an integrative strategy, which means a cross-functional strategy that appoints the gradual improvement, management and continuous business activities and the parameters of quality, productivity and competitiveness, with direct involvement of all staff.

The product strategy of Toyota is based on high quality, on developing new innovative technologies, focusing on further research, creativity, but also hard work. Toyota is a world leader in research and development of advanced automotive technologies. Toyota develops intelligent responses to the challenges of the automotive industry today, while assuming responsibility for future generations.

Regarding the problem of pollutant emissions, Toyota explores simultaneously a variety of solutions for designing less polluting vehicles as well. Toyota has committed to develop hybrid systems as a basic factor in manufacturing clean technology cars, combining different sources of power. It has made significant progress in designing engines that use alternative energy sources. One of the most promising approach is combining two different sources of energy in a single system with the potential to use both. This solution is known as hybrid technology and is the most promising way to achieve Toyota’s green machine. Search for innovative solutions is based on new technological concepts of this company. Unconventional ideas need a way of expression, and future technologies has to be tested in terms of daily life. Therefore, Toyota develops concepts such as the Fine-N engine powered by a fuel cell or CS&S roadster powered by a Hybrid Synergy Drive system.

The fabrication technology of engines is one of the most valuable property of Toyota. Toyota’s performance range of engines and advanced design reflects the high standards set by engineers. Toyota’s engines are designed for comfort and performance, Toyota makes independent studies on consumer needs, getting the vote of confidence on their part. Also, this is reinforced by the exceptional results of Toyota vehicles in Euro NCAP safety tests. Consumers trust Toyota cars and feel safe in their wheels.This trust is the result of the highest standards of quality which Toyota designs and produces its cars.

The Japanese have turned their attention to markets with significant growth potential. In Europe car manufacturers have invested substantial amounts to build production plants, research centres and design workshops. Toyota designers from three continents are exploring ideas, visions and desires in order to design advanced machines and new technologies bringing more quality of life.

 Source: Adapted from http://scholar.harvard.edu/files/tnkomo/files/analysis_of_toyota.pdf

LO1: PROCESS OF STRATEGIC PLANNING

Q 1.1

Define the terms and state the mission, vision, objectives, goals and core competencies of Toyota. (Outcome 1.1)

In your answer, you should: Define each of the terms, mission, vision, objectives, goals and core competences; Provide evidence of Toyota’s mission, vision, objectives, goals and core competencies.

Q 1.2

Describe the key issues encountered by Toyota in strategic planning. (Outcome 1.2)

In your answer, you should: Define strategic planning, describe at least three strategic planning problems, Provide examples of problems within internal analysis, external analysis or business level strategy.

Q.1.3

Compare and contrast two different planning techniques which you could apply to Toyota. (Outcome 1.3)

In your answer, you should:Define and describe two different planning techniques, for example, the BCG matrix, SPACE, PIMS or stakeholder mapping.

LO2:  BE ABLE TO FORMULATE A NEW STRATEGY

Q 2.1

Conduct an organisational audit by carrying out a SWOT analysis on Toyota.  (Outcome 2.1)

In your answer, you should: Identify the strengths, weaknesses, opportunities and threats for Toyota.

Q 2.2

Evaluate Toyota’s business environment by doing a PESTEL analysis. (Outcome 2.2)

In your answer, you should:Describe the factors of PESTEL – Political, Economic, Social, Technological, Environmental and Legal and link them to Toyota

Q2.3

Define and explain the significance of stakeholder analysis. (Outcome 2.3)

In your answer, you should: Define the term stakeholder. Explain stakeholder analysis.Describe the importance of stakeholder analysis.

Q2.4

Present a new positioning strategy for Toyota

In your answer, you should include: international positioning risk, Porter 5 forces and Porter’s Generic strategies, in light of these frameworks you suggest a new strategy to Toyota

LO3: UNDERSATND APPROACHES TO STRATEGY, EVALUATION & SELECTION

Q 3.1

Define four strategic options available and explain how they may be implemented within Toyota. (Outcome 3.1)

In order to complete the above task, your answer should:

  • Discuss a market entry strategy, for example, organic growth, growth by merger, acquisition or strategic alliances.
  • Discuss substantive growth strategies which can include related and unrelated diversification.
  • Discuss limited growth strategies which can include strategies such as market penetration and market development.
  • Discuss retrenchment which can include turnaround strategies, divestment, and liquidation. See more : Managing Financial Resources in Health and Social Care

Q3.2

Using your analysis from Q3.1 recommend an appropriate future strategy for Toyota (Outcome 3.2)

Your need to: •Present your answer as a report.

  • Include an introduction, background, advantages and disadvantages of various options with evidence from Toyota and final recommendations.•For example, if you suggest organic growth, you will need to justify your answer.

LO4: UNDERSTAND HOW TO IMPLEMENT A CHOSEN STRATEGY

Q 4.1

Focusing on your recommendation in Q3.2, compare the roles and responsibilities needed to implement the suggested future strategic plan.(Outcome 4.1)

Your answer should include:

  • A discussion about the activities needed to implement the plan.
  • A discussion about the roles and responsibilities you require to implement the plan.
  • Compare the different roles and the responsibilities needed to implement the plan.

Q 4.2

Identify and evaluate resource requirements you will need to implement a new strategy within Toyota. (Outcome 4.2)

In your answer, you should:

  • Evaluate and identify human resources needed to implement the strategic plan
  • Evaluate and identify financial resources needed to implement the strategic plan
  • Evaluate and identify time and materials needed to implement the strategic plan.

Q4.3

From your responses in Q4.1 & Q4.2, create a Gantt chart that shows the activities required and timescales for the implementation of your recommended strategy. Discuss the activities and targets to monitor your strategy.(Outcome 4.3)

In your answer you should:

  • Propose targets and timescales which you would use to monitor the implementation plan
  • Formulate a Project plan and present it in a Gantt chart using a project planning software (Open Project, Ms Project).

Learning Outcomes and Assessment Criteria

In order to achieve a merit or distinction grade, a candidate must do the following:

Merit descriptors

Indicative characteristics
Identify and apply strategies to find appropriate solutions ·         Explain how PESTEL factors and competitor behaviour have impacted on Toyota over the last three years. (M1, M2, M3 Outcome 2.2, 2.3).

 

·         Apply strategic tools to explain how Toyota might respond to these factors at a strategic level (outcome 2.2, 2.3).

 

  • Present your answer in a report format. Include title, introduction, main body, and results, conclusion, and recommendations sections.(Outcome 2.2, 2.3).

 

Select/design and apply appropriate Methods/techniques
  • Effective judgments have been made to selectapply appropriate methods and techniques

 

  • An effective approach to study and research has been applied to study operational plans and outcome suggested.

 

  • Carry out independent research into the function and structure of a company’s annual report.

 

  • Explore and state what information and data can be found in a typical annual report.

 

  • Demonstrate the relationship between company annual reports and the organisational audit.

 

·         Critically analyse the positioning strategies, Porter 5 forces and Porter’s Generic strategies and link them to Toyota (outcome 2.4)

 

 

Present and communicate appropriate findings
  • The appropriate structure and approach has been used along with Coherent, logical development of principles/concepts, range of methods of presentation have been used throughout the assignment.

 

  • Structure and systemic review along with presentation has been used to contribute to overall clarity of assignment
Distinction descriptors Indicative characteristics
Use critical reflection to evaluate own work and justify valid conclusions
  • Conclusions have been arrived at through synthesis of ideas and have been justified with an examples or case studies related to Toyota or automotive industry.

 

  • The validity of results has been evaluated using defined goals and objectives for Toyota.
  • Self-criticism of approach has taken place for Toyota
  • Realistic improvements have been proposed against defined characteristics for Toyota strategic plans
Take responsibility for managing and organizing activities
  • Autonomy/independence has been demonstrated while giving examples of specific measurable, achievable and

Goals for organisations in the assignment brief.

  • Substantial activities, projects or investigations have been planned, managed and organized to form a management team and an operational plan has been proposed

 

  • Activities have been managed and relevant outcomes have been defined and used in the report
  • The unforeseen has been accommodated while preparing a report for showing wider implication of the proposed changes in the organisation strategy plan

·         Critically evaluate the use of the PESTLE framework as a tool of environmental audit. Outcome 2.2 and 2.3

  • The importance of interdependence has been recognized and achieved
Demonstrate Convergent

/lateral/creative thinking

  • Ideas have been generated and decisions taken
  • Convergent and lateral thinking have been applied with re to outcome 4.1 & 4.2

·         Evaluate the use of the framework as an environmental audit tool.

  • Discuss the positive and the negative aspects of using the PESTEL framework to conduct an environmental audit. Outcome 2

·         Conduct some research into company reports.

·         What information could be derived from a company’s annual report outcome 3?

·         Explain how these reports could be used in an organisational audit. Outcome 4

  • Innovation and creative thought have been applied with re to learning outcome

·    Discuss how you would advise your chosen organisation to respond strategically to current changes in its business environment and why.

·    Effective thinking has taken place in unfamiliar contexts

Submission Guideline

  • Work should be referenced
  • Sources should be acknowledged fully by referenced books, journals used and URL visited
  • All work should be word processed, font size 12 and font style Times New Roman/Arial
  • Subtitles of the assignment should be in the font size14
  • Pages should be numbered in the bottom right hand corner
  • Spell check the document and read thoroughly for grammatical errors
  • 5 Line spacing
  • Reference at the end of the assignment
  • All paragraphs should be aligned in justified mode
  • The guided word limit is between 2500-4000 words

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