The Fourth Industrial Revolution
Provide a brief overview of the company (Company is Toyota Motors) you have chosen for your project, where is it headquartered, and what are the services or products it provides?
Toyota Motor Corporation is a global automobile manufacturing company primarily engaged in designing, producing, and selling automotive products. Their product line includes; Luxury cars, minibusses, compact vehicles, sport transport cars, lorries, and any connected components and accessories. Toyota also expands its operations in real estate, financial management, telecommunication facilities, and information systems. Toyota Motor Corporation also operates in many industries, including manufacturing propellers, vehicle air condensers, digital car parts, raw material lifting devices, and fabric machine tools. It also works on the advancement of intelligent transportation structures. Toyota motor vendors and clients can get acquisition or lease funding from the Financial Services sector. The corporation also offers retail leasing via the acquisition of lease agreements by vendors. All Others sector is involved in designing, producing, and selling affordable homes and other enterprises. Toyota is among the globe’s greatest automakers, manufacturing approximately 10 million automobiles annually. The corporation was established by Kiichiro Toyoda on August 28, 1937, with its headquarters located at Toyota City, Aichi in Japan.
Pick an aspect of the Fourth IR (advances in artificial intelligence, robotics, the internet of things, 3D printing, genetic engineering, quantum computing, or another technology).
- How could this impact a company’s strategic planning?
- Specifically, how could this aspect play a role in the strategic planning for your company?
- Within your company, what are two dangers of this aspect of the Fourth IR?
As the business leader in the automobiles industry, Toyota has effortless direct exposure to innovative technological advances. Its financing in automated and electrictrified motors has resulted in a partnership with Subaru as it prepares to launch advanced self-driving technologies. The collaboration with Subaru will result in the emergence of two electrictrified vehicles to the industry as well as the incorporation of hybrid innovation into sports automobiles. A collaboration with Mazda will combine Mazda’s Skyactiv innovation with Toyota’s hybrid framework to evolve electrictrified and hybrid vehicles (CORPORATION, 2017). According to its 2019 Corporation Governance Report, the corporation will remain to concentrate on facilitating advancement, particularly in the sectors of robotic systems and artificial intelligence, as well as on expanding its enterprise in the near run. Toyota will remain to improve its automobiles’ “linked” functionality and develop innovative transportation solutions as part of its organizational scheduling.
Toyota is also concerned with stability and the surroundings, with the objective of eliminating carbon dioxide discharge from its automobiles by 2050 (McFarlane, 2019). Software must be secured and effective in a wide range of emergency circumstances when establishing advanced self-driving technologies. Driver aid structures are merely not intended to avert every incident. Numerous urgent braking mechanisms are programmed to overlook static artifacts whenever a vehicle moves at freeway velocities. Toyota could make a significant contribution if it can establish more advanced urgent braking mechanisms.
The automobiles industry is highly competitive on a global scale. Toyota encounters stiff rivalry from automakers seeking to establish self-driving innovation. Given the continued internationalization and centralization of car corporations, rivalry among numerous motor manufacturers is likely to heat up. Product reliability and attributes, as well as the quantity of duration required for advancement and growth, all have an influence on rivalry. This elevated rivalry may result in reduced automotive unit profits and a considerable stock, resulting in a drop in valuation stress and a negative influence on the corporation’s economic circumstances.
References
CORPORATION., T. M. (2017, August 4). Toyota and Mazda enter business and capital alliance. Toyota Motor Corporation Official Global Website. https://global.toyota/en/detail/18012215
GREG MCFARLANE. (2021). How Toyota makes money: Vehicle sales, financial services, and more. Investopedia. https://www.investopedia.com/articles/markets/021416/how-toyota-makes-money-tm.asp
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