TOYOTA Motor Corporation. SWOT Analysis Essay Example | Topics and Well Written Essays - 1750 words

TOYOTA Motor Corporation. SWOT Analysis - Essay Example Strengths refer to the advantages that a firm has over the others in the market. They are the firm’s personal strengths that will help it to bank on, and will help it to get the mover advantage in the presence of the other firms. Most firms and business organizations apply strengths in the form of marketing strategies. In the modern world of globalization, marketing strategies can be made use of in a very innovative manner with the help of electronic means as well as smart advertising and publicity. Weaknesses are the frail aspects of every business; not every businessman knows how to run an organization flawlessly. Thus, they are the demerits that each firm possesses, which gives others in the market and advantage over the firm. Every business firm also has certain opportunities. This is the third aspect of SWOT analysis. Opportunities are the chances that exist in the external environment; every entrepreneur must try and make use of these opportunities. Most of the times the y arise out of the problems that different people have in society; solutions to overcoming such problems and helping people out, introduction of new technology, change in the habits of the people, are some of the types of opportunities that exist in the external environment. ... They must be overcome by the use of turning them into opportunities so that they can be of an advantage to the business firm. If the threat is not managed properly, it attacks the weak aspects of the firm and may lead to losses or a lower turnover. A SWOT analysis for a business firm should be made once the project or preliminary report has been made. The feasibility plan of the business further helps to look into and measure the strengths, weaknesses, opportunities and threats that the organization might have to face. At this stage, it is imperative to form such an analysis because it helps to give the directors and entrepreneurs of the firm an in depth look into the workings of the business and whether or not it will be able to succeed in the future. This can only be decided once the weaknesses and threats have been laid down because they need to be combated strategically, while causing minimum possible harm to the business. Weaknesses and threats need to be either reduced or mitig ated by the business. Yet another option to use these to the firm’s advantage is to convert them into opportunities. As discussed above, many problems can be converted to form opportunities – this can be done if the entrepreneur is dynamic and has excellent knowledge regarding the external business environment as well as the needs of the people and target consumers. Despite this, many management gurus have argued that simply by making use of and implementing a SWOT analysis, a firm cannot succeed. Many firms fail to deliver performance because of not being able to indulge in reporting about the different aspects of the firm with regard to the proper use of financial ratios (to depict the firm’s actual position with respect to its

Competitiveness in the International Electronics Industry Essay

Competitiveness in the International Electronics Industry - Essay Example The author Morri tells us that though the electronic industry is fairly small in the Dominican Republic by global standards, it employs however about 10,000 workers and contributes to about 5 percent of total Dominican exports (8). He further states that the electronic industry is by far the most important industry for a small economy (8). But in order to increase the competition in the electronic industry, the manufacturers in the electronic industry must learn to work together with the public sector to increase the competition position of the industry (Morri 9). The Dominican Republic has to meet the challenges of the public demands in order to ensure their competition in the electronics industry. The number of workers employed tells us how much is going into the export part of the trade. In order to accomplish competitiveness in the electronic industry, certain factors must be adhered to such as the "improvement in the quality and the cost of the electricity supply. Assistance with both local and international supply sourcing issues including possible common import purchasing and horizontal integration for inputs such as fabricated metals and moldings. In addition, the encouragement of domestic and foreign investment in critical local suppliers in such areas such as sheet metal fabrication, printed circuit boards, transformers, and general electronic component distribution (Morri 9)." In Latin America, there is extensive foreign investment in the sector by companies such as Verizon, Tricom, Centennial and Cable and Wireless and the cost of a T1 which is a high speed internet is the lowest priced in the whole of Latin America (Morri 16). On the other hand, "Guatemala, Honduras and Nicaragua have competitively low labor rates per hour, but they are not currently considered a competitive threat to the Dominican Republic because all three countries lack a secure environment (Morri 24)." In the above scenario, foreign investment in the Latin American companies makes it possible to guarantee low prices on certain commodities and labor being cheap makes it not a very feasible environment and so lacks the basis for a competitive environment. Another country that is ideal to examine would be the Chinese and Mexican market in relations to the US market. These two countries supply a lot of their goods to the US markets. According to Morri (9), China and Mexico supply a lot of their electronics to the US markets. In doing so, the global supply chain from the US to Asia threatens competition including low levels of linkages existing between the electronic manufacturers and the lack of industry expertise in the policy making and FDI promotion framework (Morri 10). The US markets are highly dependent on countries such as Mexico and China to provide a steady supply of electronic goods. Another important factor in increasing competition in the electronic industry is to : "create a one-stop-shop to streamline red tape. Increase image of electronics and the electrical industry locally. Also, employ or train electronic industry experts in policy and FDI promotion. In addition, build electronic industry support infrastructure for industry investors including offering investors full pre-, during- and post investment services and support. It would also help to decrease exit as well as entry barriers to increase investor confidence (Morri