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Running head: BUSINESS DILEMMA 1
TOYOTA: BUSINESS DILEMMA
IsraelGarcia
Toyota: Business Dilemma 2
Business Dilemma
Israel Garcia
Full Sail University
BIN560
February 28, 2016
Running head: Reference Page 3
Introduction
Toyota is one of the largest auto manufacturers in the world. Toyota is a Japanese
corporation, which has expanded into other countries, as it currently is engaged in three different
operational segments (Reuters, 2016). The three segments that the company is involved in
include its automobile operations, where new vehicles and models are designed, manufactured,
and marketed; financial operations, which help to resolve financing matters for customers when
purchasing vehicles from the company, and a third segment, which is involved miscellaneous
activities, such as communications (Reuters, 2016). Toyota manufactures some of the most
popular car and truck models in the U.S., as well as in the rest of the world. Some of its popular
models include Camry, Corolla, RAV4, 4Runner, Tundra, and Tacoma (Reuters, 2016). As of
the first quarter of 2016, Toyota’s total market share was 14%, which is just 0.7% below what it
was at the same time during the previous year (TWSJ, 2016). The company’s major competitors
include General Motors, Ford, Chrysler, Honda, and Nissan, which have a market share of
17.7%, 15%, 13.3%, 8.8%, and 9,2%, respectively (TWSJ, 2016).
Marketing Analysis
Based on the case study, Toyota should begin marketing some of its larger sedans, like
the Camry, as well as its SUV’s, like the RAV4, to the Indian population. According to the case,
a large percentage of Indian households, in the middle to high income categories, are beginning
to purchase more consumer goods. Additionally, market trends in automotive purchases in India
show that the country is progressively making more large vehicle purchases (Kharinta, 2015).
Market trends in the country have shown that fewer customers are buying small vehicles, as large
models, such as SUV, are becoming more popular amongst Indian consumers (Kharinta, 2015).
Reference Page 4
Based on the case study, new products and services that Toyota could introduce to the
Indian market could include scooters and motorbikes that are geared specifically for rural areas
and the rugged and unpredictable terrain in these areas. According to market research experts, in
addition to the trend towards larger vehicles, such as SUVs, Indian rural consumers are
increasingly favoring smaller two-wheel vehicles, such as motorbikes and scooters (Kawkins,
Mothersbaugh, and Mookerjee, 2010). Toyota did design an enclosed electric scooter, which is a
three wheeler, called the i-Road, which could be used as a guide to design an open and more
versatile scooter that can be marketed to the Indian rural population (Wood, 2013). As mentioned
in the case, more Indian consumers are becoming more conscious regarding their lifestyle
choices. Additionally, India has committed to reducing its carbon emissions in order to decrease
the overall pollution in the country and its people’s effect on the world’s carbon footprint
(Plucinska, 2015). As a result, more consumers are moving towards electric and hybrid vehicles,
which coincides with an increase in disposable income (Plucinska, 2015). Therefore, an electric
two or three-wheeler, marketed to rural Indian residents, would be an optimal choice for Toyota
to sell as a new product offered in this particular geographic area.
In terms of channeling of the new product within the new market, the following data flow
diagram can be utilized:
ToyotaManufacturingFacility
ToyotaDealers
Customer Customer Customer
Reference Page 5
A quantitative data graph representing information from the case would be as follows
(Statista, 2016):
Because India is a very large country, Toyota’s marketing strategy should focus on states
with the highest population concentration. Based on the map below, the company should be
focusing on the states of Uttar Pradesh, Maharashtra, Bihar, and West Bengal (Population
Commission, 2016). These four states have the highest population in the country, along with
having a substantial rural population. By focusing on these four states, Toyota can potentially
realize quite a bit of operational and sales success by marketing large vehicles, as well as
compact two or three wheelers to the selected population.
0 1 2 3 4 5 6
Vehi
cle
Ow
ners
hip
(Mill
ions
)
Year
Histogram
Reference Page 6
Based on the test data, Toyota should be expanding to India. The country is currently in a
state of expanding economy, as its people are enjoying a larger average disposable income. In
rural areas, especially, consumers are increasingly indulging in larger purchases, such as
vehicles. Additionally, the country’s vehicle purchases have been steadily increasing, and are
projected to increase even more in the future. This would justify Toyota expanding into this new
Reference Page 7
market and attempting to not only sell an establish product there, which are its larger vehicles,
but also a new product, in the form of scooters or motorbikes.
Promotional Event
The promotional event that would be recommended for Toyota to engage in would be a
raffle involving the winning of a Toyota Camry vehicle during the annual auto show that the
manufacturer participates in. Toyota has already held a similar raffle in 2015 in Wisconsin,
where participants could purchase raffle tickets for $10 each, in exchange for the opportunity to
win a 2015 Toyota Camry (Fisher House News and Events, 2015). The proceeds from the raffle
were donated to charity, which not only benefitted the selected charity, but also increased
attendance at the Auto Show and generated positive promotion for Toyota.
This event would be recommended due to the high attendance from members of the
public, which continued to increase from year to year. For example, attendance at the Auto Show
in Detroit in 2012 was 795,416 individuals, which represented an increase of about 3.2% from
the previous year (Walsh, 2013). As a result, participating in such a raffle would increase
Toyota’s consumer exposure and potentially draw more customers to the company.
Target Customer Pool
The target customer pool would be males over the age of 18, with a family household
income of at least $50,000 per year, and who possess at least a Bachelor’s degree, or higher.
Based on statistics gathered for the 2014 Chicago Auto Show, between 60 and 65% of all Auto
Show attendees are males, who earn more than $50,000 annually, and who posses at least a
college education, or higher (Chicago Auto Show, 2014). Potential attendees will be reached
through television and radio advertisements, as well as through ads placed in auto industry
magazines. According to research, about two thirds of all Auto Show attendees plan on
Reference Page 8
purchasing a new vehicle in the coming year, therefore, customer interest in the event could be
be sparked by ads placed in Toyota magazines that feature new Toyota cars and models (Chicago
Auto Show, 2014). Projected attendees at the Detroit Auto Show, who would be participating in
the Toyota Camry raffle would be as follows:
Toyota Auto Show Attendees by Sex Sex Income Levels Male Female Total 1 - Below $30,000 3,765 1,544 5,309 2 - $30,001-$50,000 4,765 2,765 7,530 3 - $50,001-$70,000 5,287 3,910 9,197 4 - $70,001-$90,000 7,259 4,168 11,427 5 - $90,001-$110,000 10,765 4,876 15,641 6 - Above $110,000 13,267 5,876 19,143 Total 45,108 23,139 68,247
The projected costs for this promotional event would be the cost of the donated vehicle,
which for the 2016 Toyota Camry LE model is about $23,070 (Toyota, 2016). The cost benefits
an be justified through the projected attendance at the 2016 Detroit Auto Show, which is
0
5,000
10,000
15,000
20,000
25,000
ToyotaAutoShowA9endeesbySex
Male Female Total
Reference Page 9
estimated to be over 815,000 individuals, which is also projected to have an economic impact of
over $425 million (WXYZ News, 2016). Therefore, the cost of a single vehicle is justifiable in
light of the potential benefits and customer exposure that Toyota could realize.
Legal Concerns
If a woman is randomly selected from the data pool, the probability that the customer is a
woman would be P(F) = 23,139/68,247, or 33.9%. In contrast to this, the probability that a male
would be a winner would be P(M) = 45,108/68247, or 66.1%. Here, the factors that may enter
into the apparent discrepancy between probabilities would be annual income. For example, the
probability that the winner is a female and has an annual household income of below $30,000
would be P(F ∩ 1) = 1,544/68,247, or 22.65. In comparison, the probability that the winner
would be a male with an annual household income of below $30,000 would be P(M ∩ 1) =
3,765/68,247, or 55.2%.
Special Raffle
If a special raffle was being held to one person at random, the change for each category in
the table would be:
• P(M) = 45,108/68,247 = 0.661, or 66.1%
• P(F) = 23,139/68,247 = 0.339, or 33.9%
• P(1) = 5,309/68,247 = 0.077, or 7.7%
• P(2) = 7,530/68,247 = 0.110, or 11%
• P(3) = 9,197/68,247 = 0.135, or 13.5%
• P(4) = 11,427/68,247 = 0.167, or 16.7%
• P(5) = 15,641/68,247 = 0.229, or 22.9%
• P(6) = 19,143/68,247 = 0.280, or 28.0%
Reference Page 10
• P(F ∩ 1) = 1,544/68,247 = 0.023, or 2.3%
• P(F ∩ 2) = 2,765/68,247 = 0.041, or 4.1%
• P(F ∩ 3) = 3,910/68,247 = 0.057, or 5.7%
• P(F ∩ 4) = 4,168/68,247 = 0.061, or 6.1%
• P(F ∩ 5) = 4,876/68,247 = 0.071, or 7.1%
• P(F ∩ 6) = 5,876/68,247 = 0.086, or 8.6%
• P(M ∩ 1) = 3,765/68,247 = 0.055, or 5.5%
• P(M ∩ 2) = 4,765/68,247 = 0.070, or 7.0%
• P(M ∩ 3) = 5,287/68,247 = 0.077, or 7.7%
• P(M ∩ 4) = 7,259/68,247 = 0.106, or 10.6%
• P(M ∩ 5) = 10,765/68,247 = 0.158, or 15.8%
• P(M ∩ 6) = 13,276/68,247 = 0.194, or 19.4%
The factors that might enter into awarding of the prize other than random selection could
be restricting the pool of potential winners to only those customers that have purchased from the
company in the past. This would make the customer pool much smaller. In order to ensure that
the drawing is fair and with no possibilities of discrimination, attendees, who have purchased
raffle tickets should deposit them into a locked container and a machine should be utilized to
perform the drawing. This would eliminate the likelihood of human error or of a deliberate
decision of the operator to select a particular raffle ticket. Additionally, the raffle should be held
in front of the individuals, who have purchased raffle tickets, or in front of other Auto Show
attendees, to ensure that it is done correctly and without bias.
Bayesian Paradigm
Reference Page 11
In terms of the Bayesian Paradigm, as applied to marketing, the recommendation for
Toyota would be to determine the probabilities of the winner belonging to each category and
altering its marketing efforts in order to attract more female customers, so as to make the raffle
selection much more equitable for both genders. For example, the company can offer some type
of incentive or prize for female Auto Show attendees. This would likely induce more female
customers to attend the Auto Show and to purchase a raffle ticket. This would also reduce the
likelihood of a male customer winning the prize, which would make the raffle fairer to everyone
involved.
Decisions Pertaining to New Business
Toyota can expand capacity through expanding its operating hours at its present facilities.
In the past, when the company needed additional capacity and it did not want to commit to the
purchase or opening up of another factory or production facility, management decided to move
from a five-day production week to a six-day production week (Hendricks and Webner, 2015). In
2015, the company’s San Antonio production plant added Saturday onto its work week as a
production day, which prompted it to hire 200 more employees (Hendricks and Webner, 2015).
The facility will not actually start Saturday operations until sometime in 2016, as it spent the
remainder of 2015, following the decision, on training the additional employees (Hendricks and
Webner, 2015). This decision appears to be financially and operationally sound, as the additional
operating day does not interfere with the rest of the workweek. Additionally, the company does
not need to expend additional capital and commit to a new facility or new machinery. This would
present a significant risk, due to the fact that, if demand waned and the company could not
sustain the same rate of production, it would be stuck with a new facility and additional capacity
that would, likely, eventually begin to incur a financial loss for the company.
Reference Page 12
In the case of the decision to expand capacity to an additional working day, the only risk
that the company would be making would be the hiring of 200 additional employees, who would
be getting paid at least $14 per hour, and who would also need to be trained, which is another
cost that the company would be incurring. Following the economic recession, Toyota has been
very careful in terms of its expansion decisions, and has avoided making significant expansion
decisions (Shiraki, 2015). In this case, if customer demand decreases, the company can always
decide to lay off personnel and return to a five-day production schedule, although this is not
usually one of its policies, as discussed later. However, sales trends for the last quarter of 2015
show that demand for some of Toyota’s vehicles, such as the Prius, keeps increasing, to the point
where the company is having a hard time keeping up, due to various supplier issues (Horie and
Trudell, 2016). Forecasts appear to show that the increased demand for Toyota’s vehicles will
continue, at least through the latter part of 2016 (Horie and Trudell, 2016).
Some of Toyota’s competitors are also increasing production. Honda, for example, has
already made plans in 2015 to open up a brand new production facility in India, which would
manufacture motorcycles and some of its vehicles (Honda, 2015). Ford, too, has made similar
plans in 2015, expect that this competitor plans to expand its production facilities to China (Ford,
2015). It would appear that many of Toyota’s competitors are also stepping up productions in
order to keep up with Toyota.
If Toyota fails to meet customer demands, the lost opportunity cost is the amount of sales
that it could realize as a result of the increased capacity. As the company is currently
experiencing some supplier issues, which is causing it to not be able to satisfy all of the demand
that currently. In the present situation, the company has already begun to lose sales, which could
Reference Page 13
cause it to lose about $67 million in pretax profits (Horie and Trudell, 2016). The same can
happen if the company is unable to increase production to satisfy present customer demand.
Decisions Pertaining to Personnel
In terms of personnel, Toyota’s long-term strategy is to continue to hire additional
employees, in order to be able to satisfy growing customer demand for its vehicles (Hendricks
and Webner, 2015). Due to the new models that are in production, as well as models that are
highly in demand, such as the Prius, Toyota will likely continue to hire additional personnel, so
that its production facilities can run as smoothly, as possible. In terms od discovering and
attracting talented managers, Toyota likes to recognize its existing talent amongst qualified
employees and develop these individuals through a process of constant improvement and
adherence to the core principles that Toyota lives by, which include continuous improvement of
all processes and being innovative (Hamel, 2006). This means that the company tries not to look
outside of its bounds for managerial talent.
Significant layoffs should not be implemented in an effort to become “lean and mean”
because Toyota has a policy of not engaging in employee layoffs, and has not layoffs any
permanent employees in the last five decades (Ascano, 2014). To lay employees off would go
against the principles of continuous improvement, which the company has implemented into
every single one of its processes and operations (Ascano, 2014).
In the case of substandard personnel, the company can terminate employees for cause, as
they are not performing the job that they were hired to do. In this case, the company would be
justified in firing employees, who are costing the company resources, but who are not
performing up to standard. In the area of production, management can level personnel to match
uneven product demand by reassigning them to other production centers or lines that have a
Reference Page 14
higher demand. Additionally, the company could offer to give them unpaid vacations or time off
due to a temporary decrease in customer demand, and the resulting decrease in production.
Decisions Pertaining to Systems, Business, and Finance
Toyota makes operations and procedures more efficient by employing the principle of
lean operations and engaging in zero waste, or at least as little waste, as possible. This involves
the optimization of all resources that the company and its employees have at their disposal, such
as “time, human resources, assets, and productivity, while improving the quality level of
products and services to” (Becker, 2016) its customers. When cash flow problems arise, the
company looks to ways to conserve costs and adheres more strictly to its principles of lean
production and operations (Becker, 2016). When Toyota needs to obtain capital funding for
additional capital projects, it seeks to determine where it may have an excess of capital and
additional resources, so that they may be reallocated much more efficiently and satisfy the need
for capital funding elsewhere (Stewart and Raman, 2007).
Decisions Pertaining to Marketing
Toyota already markets overseas, as it is already a global company. For example,
although Toyota is a Japanese company, it sells its vehicles all over Asia, in the U.S. and in
Europe. Additionally, the company has also already engaged in vertical integration. Presently,
the company provides quite a bit of training to its major suppliers and even sometimes acquires
an interest in them, as the training and exchange of knowledge is mutually beneficial for all
parties involved (The Economist, 2009). The company could expand into some developing
countries, such as India, where new product lines could potentially find demand. In India, for
example, more low and and middle income individuals and families have access to additional
disposal income, which they are allocating to larger purchases, such as cars (Kharinta, 2015).
Reference Page 15
Should your working company expand into new market segments or with new product lines?
Optimal Decision Pathways
Some risky decisions could involve the company deciding to open up a new production
facility overseas, as a means of doing what its major competitors, Ford and Honda, are engaging
in. Another risky decision, since some of its major suppliers are presently having their own
production issues, which is something that is causing Toyota to fail to meet customer demands,
would be for the company to look for and commit to new suppliers as a means of overcoming
these difficulties.
Expected Monetary Value Equation Analysis
An expected Monetary Value Equation analysis is shown below. In this case, option A
entails expanding capacity in one of Toyota’s facilities to Saturdays, while option B is opening
up a new facility in a developing country. All payoffs, A and B, are in millions USD.
In this case, the company should go with alternative A, which is to expand operations to an
additional day in one of its facilities.
Decision Table
A decision table can be seen below. In t his case, Toyota is deciding whether or not to
introduce a new scooter/two-wheeler into the Indian market. Payoffs are in millions USD.
Event P i A X ijP i B X ijP i
Meetingalldemand 0.6 40 40(0.6)=24 30 30(0.6)=18Fallingshortofmeetingdemand 0.1 15 15(0.1)=1.5 10 10(0.1)=1Notmeetinganydemand 0.05 20 20(0.05)=1 5 5(0.05)=0.25Generatingadditionaldemand 0.25 100 100(0.25)=25 50 50(0.25)=12.5EMV EMV(A)=51.5 EMV(B)=31.75
AlternativeCourseofAction
Reference Page 16
In this case, the company should go with a concentrated approach, as long demand is projected to
be high.
Decision Tree
A decision tree regarding the decision to expand operations in an existing facility by one
day or to open up a new facility in a developing country can be seen below. All payoffs are in
millions USD.
In this case, it is clear from the decision tree, that the best option would be to expand one day of
operations in a present facility.
Forecast and Future
One area of Toyota that is experiencing a similar situation as the one described in the
business dilemma and which demands BIA attention would be the issue of Toyota of dealing
with suppliers that are unable to produce needed parts on time, which, in turn, is resulting in the
company not being able to meet rising customer demand for certain vehicle models that Toyota
Event,Ei Gradual,A1 Concentrated,A2
Highdemand,E1 20 -25Highdemand,E2 60 70Maximumprofitforeachaction 60 70
AlternativeCourseofAction
Meetingalldemand $40
Fallingshortofmeetingdemand $15
Notmeetinganydemand $20
Generatingadditionaldemand $100ExpandonedayofoperationsOpenupnewfacility
Meetingalldemand $30
Fallingshortofmeetingdemand $10
Notmeetinganydemand $5
Generatingadditionaldemand $50
Reference Page 17
manufacturers. For example, in early 2016, Toyota announced that one of its larger suppliers,
Aichi Steel Corp., which “supplies specialty steel for engine, transmission, and chassis
components,” (Horie and Trudell, 2016) experienced an explosion in one of its main
manufacturing plants, which is causing the supplier to drastically decrease the number of parts
that it can manufacture for Toyota (Horie and Trudell, 2016). As a result, Toyota made the
decision to shut down production in Japan for several days in February of 2016, which is
significant, as the company manufactures just over 40% of all of its models there (Horie and
Trudell, 2016). Because Toyota has an extensive and mutually dependent supply chain, this
decision essentially has an effect on its operations, as well as many of its other suppliers (Horie
and Trudell, 2016). In fact, this production hiccup is being compared to the operational
slowdown that Toyota experienced as a result of the 2011 earthquake that devastated the country
and which impacted multiple industries (Horie and Trudell, 2016). If the company does not
sufficiently address the potential decline in its sales as a result of the temporary shutdown of
certain operations, then it could potentially be facing an adverse situation, as evidenced by the
following forecast:
0
50
100
150
200
250
300
350
400
450
Week1 Week2 Week3 Week4 Week5 Week6 Week7 Week8
CumulativeLoss (inbillion yen)
Reference Page 18
At the rate of the projected 50 billion yen that Toyota would lose every week due to the inability
of its suppliers to meet its manufacturing demand, just eight weeks of a temporary shutdown in
some facilities would lead to a cumulative loss of 400 billion yen (Horie and Trudell, 2016).
Based on the currency exchange rate between yen and USD provided by Oanda as of February
28, 2016, 1 yen is equal to $0.00877 (Oanda, 2016). Based on this currency exchange rate, 400
billion yen for the period of eight weeks would be equivalent to about $3.5 billion (Oanda,
2016).
Although Toyota has established working relationships with many of its suppliers, and is
even somewhat integrated with some of its major suppliers, in order to avert this crisis, the
company needs to temporarily, at least, depend on other suppliers to make up the supplier
deficiency or reallocate its production and supplying needs amongst its other suppliers. Some of
its new supplier additions, such as Forma Automotive, LLC., which was added in 2014 and
which has a potential annual production capacity of 200,000 vehicles, could temporarily pick up
the slack from Toyota’s regular suppliers (Toyota, 2014).
If an improvement in quality control is one of the changes that Toyota can implement as
part of the solution to this problem, Deming’s 14 points can be utilized to analyze this solution.
Deming’s 14 points are centered around concepts, such as adopting a philosophy of constant
improvement in quality, implement job training, implement strong leadership, create an
environment in which there is no room for fear, eliminate barriers between various departments,
help employees and stakeholders become more efficient, and engage all employees and
stakeholders to become engaged in the change process (The Deming Institute, 2016). Since
Toyota has an overall focus on the quality of its vehicles, which is why quality is implemented
into virtually every single one of its internal processes, the company can adhere to Deming’s 14
Reference Page 19
points when making the decision to rely on a different supplier to make up for the production
shortfall by making a commitment to stick with that supplier for the needed length of time.
Toyota can also enter into an agreement with the new supplier that specifies exactly what Toyota
needs and what the supplier will provide, so as to ensure that the company’s relationship with the
supplier achieves its intended objectives. As part of this transition, Toyota could also provide
training to the supplier and its employees, which would the same training that Toyota typically
provides to the rest of its suppliers to ensure uniformity and quality of the product and parts that
it receives from its suppliers. Finally, Toyota can engage its employees into the relationship with
the supplier, which would help to ensure that the transition goes as smoothly as possible and that
employees do not fear being replaced by the new supplier.
Toyota can implement Six Sigma to improve on the lean production philosophy that it
has already implemented in its operations. Presently, Toyota’s operations thrive on the principles
of lean production that the company has integrated into all of its internal processes. The lean
production philosophy is centered around specific concepts, such as selecting only those
processes that appear to be correct to its operations and organizational goals, developing the
skills and talents of its employees, focusing on eliminating the sources of problems and
inefficiencies, streamlining internal processes, learning from errors, and eliminating any
processes that do not inherently add value to its productions and operations (QIMacros, 2016).
By adding Six Sigma to its lean production philosophy, the company can “improve […] value-
added steps” (QIMacros, 2016) through optimization and help Toyota ensure that it can achieve
operational sustainability.
Reference Page 20
Additionally, the company can also engage in a process flow improvement of the
purchasing function. Below is a process flow diagram illustrating the new process (Oracle,
2016):
The above process flow diagram for the purchasing function would utilize the company’s ERP
system in order to determine which suppliers would be the best potential options when ordering
and purchasing a specific part or system. Based on the specifications of the part or system,
Toyota employees could utilize their existing supply chain and ERP system to select the best
suppliers to provide the parts, given the fact that some suppliers are not presently available to
Reference Page 21
satisfy this demand. The main advantage of this process would be the fact that it is automated
and Toyota employees can draw on the data contained in the ERP database and make a supplier
decision, given information, such as part or system specifications and supplier availability. In an
ERP system, users are able to match requisitions to groups of suppliers, which streamlines the
process and increases the overall efficiency.
Conclusion
In summary, Toyota is one of the most prominent auto manufacturers in the world, as
well as one of the most successful. Many of its vehicle models, such as the Camry, Prius, and
RAV4, have achieved a great deal of popularity amongst customers, and helped Toyota to obtain
a large market share, when compared to its competitors. As of the beginning of 2016, the
company had a 14% market share, and its future, in many respects, looks promising. By
watching and analyzing market trends, the company can expand to new markets, such as India,
where experts say many people are beginning to purchase new and large vehicles, due to more
disposable income. In this particular market, for example, the company could offer a compact
scooter, which could increase its sales and overall market share. Additionally, to expand its
exposure, Toyota could participate in additional promotional events, such as giving a vehicle
away at the Auto Show. By engaging in statistical analysis, the company could determine the
probability of who could win and structure the contest accordingly. Due to its desire to expand,
Toyota can also increase operational capacity by increasing working hours at its existing
facilities. This would help to minimize the risk of loss and make use of any existing and unused
capacity to optimize efficiency. In the future, the company should assess the capabilities of its
suppliers to ensure that it can still satisfy the demands of its customers. This could be achieved
through a restructuring of supplier relationships and agreements. Overall, the company has a
Reference Page 22
promising future in the automotive industry, as long as it can minimize risk and maximize its
marketing and selling opportunities.
Reference Page 23
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standard.com/article/news-cd/j-d-power-2015-study-reveals-latest-indian-car-buyer-
trends-115093000877_1.html
[42]. Oanda. (2016). Currency converter. Oanda. Retrieved from
http://www.oanda.com/currency/converter/
[43]. Oracle. (2016). Understanding RFQs in PeopleSoft purchasing. Oracle. Retrieved from
https://docs.oracle.com/cd/E39583_01/fscm92pbr0/eng/fscm/spog/concept_Understandin
gRFQsinPeopleSoftPurchasing-9f3c1a.html
[7]. Plucinska, J. (2015, October 2). India pledges to reduce carbon emissions 33%-35% by
2030. Time Magazine. Retrieved from http://time.com/4059051/india-indc-climate-
change-carbon-emissions/
Reference Page 25
[8]. Population Commission. (2016). Tables, maps, and bar charts. National Commission on
Population. Retrieved from
http://populationcommission.nic.in/content/932_1_TablesMapsAndBarCharts.aspx
[44]. QIMacros. (2016). Lean Six Sigma. QIMacros. Retrieved from
https://www.qimacros.com/lean-six-sigma-articles/lean-six-sigma/
[9]. Reuters. (2016). Toyota Motor Corp. Reuters. Retrieved from
http://www.reuters.com/finance/stocks/companyProfile?symbol=TM
[33]. Shiraki, M. (2015, April 2). Toyota to end expansion freeze, invest $1.3 billion in two New
Mexico, China plants: Sources. Reuters. Retrieved from
http://www.reuters.com/article/us-toyota-factory-mexico-china-
idUSKBN0MU05L20150403
[10]. Statista. (2016). Passenger vehicle registrations in India from 2009 to 2017. Statista.
Retrieved from http://www.statista.com/statistics/257822/car-registrations-in-india/
[34]. Stewart, T. A., and Raman, A. P. (2007). Lessons from Toyota’s long drive. Harvard
Business Review. Retrieved from https://hbr.org/2007/07/lessons-from-toyotas-long-
drive/es
[45]. The Deming Institute. (2016). The fourteen points for management. The Deming Institute.
Retrieved from https://www.deming.org/theman/theories/fourteenpoints
[35]. The Economist. (2009, March 27). Moving on up. The Economist. Retrieved from
http://www.economist.com/node/13173671
[18]. Toyota. (2016). 2016 Camry LE. Toyota. Retrieved from
http://www.toyota.com/configurator/#!/build/step/model/year/2016/series/camry
Reference Page 26
[46]. Toyota. (2014, September 12). Toyota welcomes two new on-site suppliers to its team.
Toyota. Retrieved from
http://corporatenews.pressroom.toyota.com/releases/tmmtx+welcomes+new+on+site+sup
pliers.htm
[11]. TWSJ. (2016, February 2). Auto sales. The Wall Street Journal. Retrieved from
http://online.wsj.com/mdc/public/page/2_3022-autosales.html
[19]. Walsh, D. (2013, January 28). There’s an untold story behind auto show attendance.
Crain’s Detroit Business. Retrieved from
http://www.crainsdetroit.com/article/20130128/BLOG012/130129873/theres-an-untold-
story-behind-auto-show-attendance
[12]. Wood, C. (2013, March 4). Toyota i-Road is an electric scooter that drives like a car. Auto
Guide. Retrieved from http://www.autoguide.com/auto-news/2013/03/toyota-i-road-is-
an-electric-scooter-that-drives-like-a-car.html
[20]. WXYZ News. (2016, January 25). North American International Auto Show attendance
rises again for 2016. WXYZ News. Retrieved from http://detroit.suntimes.com/det-
news/7/77/365859/north-american-international-auto-show-attendance-rises-again-for-
2016
Reference Page 27
Reference Tracker
References: Discussion post 1 1. Clancy, H. (2016, February 17). Amid uncertain stock market, steady progress seen for
business analytics software. Fortune Magazine. Retrieved from http://fortune.com/2016/02/17/business-analytics-software/
2. Hoovers. (2016). Toyota Motor Corporation competition. Hoovers. Retrieved from http://www.hoovers.com/company-information/cs/competition.TOYOTA_MOTOR_CORPORATION.a12418ae0c087cb3.html
3. MicroStrategy. (2016). Introducing MicroStrategy 10. MicroStrategy. Retrieved from http://www.microstrategy.com/us/capabilities
4. Oracle. (2016). Analytics for insight and innovation. Oracle. Retrieved from https://www.oracle.com/solutions/business-analytics/index.html
Assignment 1 5. Kawkins, D. I., Mothersbaugh, D. L., and Mookerjee, A. (2010). Consumer Behavior. USA:
Tata McGraw-Hill. 6. Kharinta, M. (2015, September 30). J. D. Power 2015 study reveals latest Indian car buyer
trends. Business Standard. Retrieved from http://www.business-standard.com/article/news-cd/j-d-power-2015-study-reveals-latest-indian-car-buyer-trends-115093000877_1.html
7. Plucinska, J. (2015, October 2). India pledges to reduce carbon emissions 33%-35% by 2030. Time Magazine. Retrieved from http://time.com/4059051/india-indc-climate-change-carbon-emissions/
8. Population Commission. (2016). Tables, maps, and bar charts. National Commission on Population. Retrieved from http://populationcommission.nic.in/content/932_1_TablesMapsAndBarCharts.aspx
9. Reuters. (2016). Toyota Motor Corp. Reuters. Retrieved from http://www.reuters.com/finance/stocks/companyProfile?symbol=TM
10. Statista. (2016). Passenger vehicle registrations in India from 2009 to 2017. Statista. Retrieved from http://www.statista.com/statistics/257822/car-registrations-in-india/
11. TWSJ. (2016, February 2). Auto sales. The Wall Street Journal. Retrieved from http://online.wsj.com/mdc/public/page/2_3022-autosales.html
12. Wood, C. (2013, March 4). Toyota i-Road is an electric scooter that drives like a car. Auto Guide. Retrieved from http://www.autoguide.com/auto-news/2013/03/toyota-i-road-is-an-electric-scooter-that-drives-like-a-car.html
Reference Page 28
Discussion post 2 13. Kenwell, B. (2014, May 21). Is Ford Motor Company's recall as bad as General Motors'? The
Motley Fool. Retrieved from http://www.fool.com/investing/general/2014/05/21/is-ford-motor-companys-recall-as-bad-as-general-mo.aspx
14. Tundra Headquarters. (2013). 2013 JD Power Initial Quality Survey results - GM is rising, Ford is falling fast, and Toyota is still great. Tundra Headquarters. Retrieved from http://www.tundraheadquarters/blog/2013-jd-power-initial-quality-survey-results/
15. Niedermeyer, E. (2011, July 14). Chart of the day: The “Big Six” midsized sedans in 2011. The Truth About Cars. Retrieved from http://www.thetruthaboutcars.com/2011/07/chart-of-the-day-the-big-six-midsized-sedans-in-2011/
Assignment 2 16. Chicago Auto Show. (2014). The Chicago Auto Show at a glance. Chicago Auto Show.
Retrieved from http://www.chicagoautoshow.com/assets/1/7/Event_Profile_Infographic_v3.pdf
17. Fisher House News and Events. (2015, March 11). June 6, 2015: Toyota Camry raffle drawing. Fisher House Wisconsin. Retrieved from http://www.fisherhousewi.org/enter-to-win-a-camry-at-the-milwaukee-auto-show/
18. Toyota. (2016). 2016 Camry LE. Toyota. Retrieved from http://www.toyota.com/configurator/#!/build/step/model/year/2016/series/camry
19. Walsh, D. (2013, January 28). There’s an untold story behind auto show attendance. Crain’s Detroit Business. Retrieved from http://www.crainsdetroit.com/article/20130128/BLOG012/130129873/theres-an-untold-story-behind-auto-show-attendance
20. WXYZ News. (2016, January 25). North American International Auto Show attendance rises again for 2016. WXYZ News. Retrieved from http://detroit.suntimes.com/det-news/7/77/365859/north-american-international-auto-show-attendance-rises-again-for-2016
Discussion 3 21. Black, K. (2008). Business statistics: For contemporary decision making. Hoboken, NJ:
Wiley. Breaking News. (2016). Toyota: Updating in real-time. Breaking News. Retrieved from http://www.breakingnews.com/topic/toyota/
22. Hirsch, J. (2015, May 28). Auto industry ahead of 2020 fuel economy goals. Future
Structure. Retrieved from http://www.govtech.com/fs/Auto-Industry-Ahead-of-2020-Fuel-Economy-Goals.html
23. Markoff, J. (2015, November 6). Toyota invests $1 billion in artificial intelligence in U.S. New York Times. Retrieved from http://www.nytimes.com/2015/11/06/technology/toyota-
Reference Page 29
silicon-valley-artificial-intelligence-research-center.html?_r=0 24. Vanderbilt, T. (2012, January 20). Let the robot drive: The autonomous car of the future is
here. Wired. Retrieved from http://www.wired.com/2012/01/ff_autonomouscars/ Assignment 3 25. Ascano, M. (2014, November 11). How layoffs are an affront to process improvement. Law
Technology Today. Retrieved from http://www.lawtechnologytoday.org/2014/11/how-layoffs-are-an-affront-to-process-improvement/
26. Becker, R. M. (2016). Lean manufacturing and the Toyota production system. SAE International. Retrieved from https://www.sae.org/manufacturing/lean/column/leanjun01.htm
27. Ford. (2015, March 24). Ford increases capacity in China with new assembly plant in Hangzhou. Ford. Retrieved from http://www.at.ford.com/news/cn/Pages/Ford%20Increases%20Capacity%20in%20China%20with%20New%20Assembly%20Plant%20in%20Hangzhou.aspx
28. Hamel, G. (2006). The why, what, and how of management innovation. Harvard Business Review. Retrieved from https://hbr.org/2006/02/the-why-what-and-how-of-management-innovation
29. Hendricks, D., and Webner, R. (2015, September 3). Toyota expanding to six-day production, hiring 200. San Antonio Express News. Retrieved from c http://www.expressnews.com/business/local/article/Toyota-expanding-to-six-day-production-hiring-200-6483358.php
30. Honda. (2015, March 27). Honda to expand motorcycle and automobile production capacity in India. Honda. Retrieved from http://world.honda.com/news/2015/c150327aeng.html
31. Horie, M., and Trudell, C. (2016, February 3), Toyota supplier behind production shutdown pulls forecasts. Bloomberg Business. Retrieved from http://www.bloomberg.com/news/articles/2016-02-03/toyota-supplier-behind-production-shutdown-pulls-profit-forecast
32. Kharinta, M. (2015, September 30). J. D. Power 2015 study reveals latest Indian car buyer trends. Business Standard. Retrieved from http://www.business-standard.com/article/news-cd/j-d-power-2015-study-reveals-latest-indian-car-buyer-trends-115093000877_1.html
33. Shiraki, M. (2015, April 2). Toyota to end expansion freeze, invest $1.3 billion in two New Mexico, China plants: Sources. Reuters. Retrieved from http://www.reuters.com/article/us-toyota-factory-mexico-china-idUSKBN0MU05L20150403
34. Stewart, T. A., and Raman, A. P. (2007). Lessons from Toyota’s long drive. Harvard Business Review. Retrieved from https://hbr.org/2007/07/lessons-from-toyotas-long-drive/es
Reference Page 30
35. The Economist. (2009, March 27). Moving on up. The Economist. Retrieved from http://www.economist.com/node/13173671
Discussion 4 36. Black, K. (2008). Business statistics: For contemporary decision making. Hoboken, NJ:
Wiley. 37. Breaking News. (2016). Toyota: Updating in real-time. Breaking News. Retrieved from
http://www.breakingnews.com/topic/toyota/ (http://www.breakingnews.com/topic/toyota/)
38. Hirsch, J. (2015, May 28). Auto industry ahead of 2020 fuel economy goals. Future Structure. Retrieved from http://www.govtech.com/fs/Auto-Industry-Ahead-of-2020-Fuel-Economy-Goals.html (http://www.govtech.com/fs/Auto-Industry-Ahead-of- 2020-Fuel-Economy-Goals.html)
39. Markoff, J. (2015, November 6). Toyota invests $1 billion in artificial intelligence in U.S. New York Times. Retrieved from http://www.nytimes.com/2015/11/06/technology/toyota-silicon-valley-artificial-intelligence-research-center.html?_r=0 (http://www.nytimes.com/2015/11/06/technology/toyota-silicon-valley-artificial-intelligence-research-center.html?_r=0)
40. Vanderbilt, T. (2012, January 20). Let the robot drive: The autonomous car of the future is here. Wired. Retrieved from http://www.wired.com/2012/01/ff_autonomouscars/
Assignment 4
41. Becker, R. M. (2016). Lean manufacturing and the Toyota production system. SAE International. Retrieved from https://www.sae.org/manufacturing/lean/column/leanjun01.htm
42. Oanda. (2016). Currency converter. Oanda. Retrieved from http://www.oanda.com/currency/converter/
43. Oracle. (2016). Understanding RFQs in PeopleSoft purchasing. Oracle. Retrieved from https://docs.oracle.com/cd/E39583_01/fscm92pbr0/eng/fscm/spog/concept_UnderstandingRFQsinPeopleSoftPurchasing-9f3c1a.html
44. QIMacros. (2016). Lean Six Sigma. QIMacros. Retrieved from https://www.qimacros.com/lean-six-sigma-articles/lean-six-sigma/
45. The Deming Institute. (2016). The fourteen points for management. The Deming Institute. Retrieved from https://www.deming.org/theman/theories/fourteenpoints
46. Toyota. (2014, September 12). Toyota welcomes two new on-site suppliers to its team. Toyota. Retrieved from http://corporatenews.pressroom.toyota.com/releases/tmmtx+welcomes+new+on+site+suppliers.htm
Reference Page 31
Updated :Reference Page
Israel Garcia
Full Sail University
BIN560
February 28, 2016
Toyota: Business Dilemma 32
References: Assignment 1 5. Kawkins, D. I., Mothersbaugh, D. L., and Mookerjee, A. (2010). Consumer Behavior. USA: Tata McGraw-Hill. 6. Kharinta, M. (2015, September 30). J. D. Power 2015 study reveals latest Indian car buyer trends. Business Standard. Retrieved from
http://www.business-standard.com/article/news-cd/j-d-power-2015-study-reveals-latest-indian-car-buyer-trends-115093000877_1.html
7. Plucinska, J. (2015, October 2). India pledges to reduce carbon emissions 33%-35% by 2030. Time Magazine. Retrieved from http://time.com/4059051/india-indc-climate-change-carbon-emissions/
8. Population Commission. (2016). Tables, maps, and bar charts. National Commission on Population. Retrieved from http://populationcommission.nic.in/content/932_1_TablesMapsAndBarCharts.aspx
9. Reuters. (2016). Toyota Motor Corp. Reuters. Retrieved from http://www.reuters.com/finance/stocks/companyProfile?symbol=TM 10. Statista. (2016). Passenger vehicle registrations in India from 2009 to 2017. Statista. Retrieved from
http://www.statista.com/statistics/257822/car-registrations-in-india/ 11. TWSJ. (2016, February 2). Auto sales. The Wall Street Journal. Retrieved from http://online.wsj.com/mdc/public/page/2_3022-autosales.html 12. Wood, C. (2013, March 4). Toyota i-Road is an electric scooter that drives like a car. Auto Guide. Retrieved from
http://www.autoguide.com/auto-news/2013/03/toyota-i-road-is-an-electric-scooter-that-drives-like-a-car.html Assignment 2 16. Chicago Auto Show. (2014). The Chicago Auto Show at a glance. Chicago Auto Show. Retrieved from
http://www.chicagoautoshow.com/assets/1/7/Event_Profile_Infographic_v3.pdf 17. Fisher House News and Events. (2015, March 11). June 6, 2015: Toyota Camry raffle drawing. Fisher House Wisconsin. Retrieved from
http://www.fisherhousewi.org/enter-to-win-a-camry-at-the-milwaukee-auto-show/ 18. Toyota. (2016). 2016 Camry LE. Toyota. Retrieved from http://www.toyota.com/configurator/#!/build/step/model/year/2016/series/camry 19. Walsh, D. (2013, January 28). There’s an untold story behind auto show attendance. Crain’s Detroit Business. Retrieved from
http://www.crainsdetroit.com/article/20130128/BLOG012/130129873/theres-an-untold-story-behind-auto-show-attendance 20. WXYZ News. (2016, January 25). North American International Auto Show attendance rises again for 2016. WXYZ News. Retrieved from
http://detroit.suntimes.com/det-news/7/77/365859/north-american-international-auto-show-attendance-rises-again-for-2016 Assignment 3 25. Ascano, M. (2014, November 11). How layoffs are an affront to process improvement. Law Technology Today. Retrieved from
http://www.lawtechnologytoday.org/2014/11/how-layoffs-are-an-affront-to-process-improvement/ 26. Becker, R. M. (2016). Lean manufacturing and the Toyota production system. SAE International. Retrieved from
https://www.sae.org/manufacturing/lean/column/leanjun01.htm 27. Ford. (2015, March 24). Ford increases capacity in China with new assembly plant in Hangzhou. Ford. Retrieved from
http://www.at.ford.com/news/cn/Pages/Ford%20Increases%20Capacity%20in%20China%20with%20New%20Assembly%20Plant%20in%20Hangzhou.aspx
28. Hamel, G. (2006). The why, what, and how of management innovation. Harvard Business Review. Retrieved from https://hbr.org/2006/02/the-why-what-and-how-of-management-innovation
29. Hendricks, D., and Webner, R. (2015, September 3). Toyota expanding to six-day production, hiring 200. San Antonio Express News. Retrieved from c http://www.expressnews.com/business/local/article/Toyota-expanding-to-six-day-production-hiring-200-6483358.php
30. Honda. (2015, March 27). Honda to expand motorcycle and automobile production capacity in India. Honda. Retrieved from http://world.honda.com/news/2015/c150327aeng.html
31. Horie, M., and Trudell, C. (2016, February 3), Toyota supplier behind production shutdown pulls forecasts. Bloomberg Business. Retrieved from http://www.bloomberg.com/news/articles/2016-02-03/toyota-supplier-behind-production-shutdown-pulls-profit-forecast
32. Kharinta, M. (2015, September 30). J. D. Power 2015 study reveals latest Indian car buyer trends. Business Standard. Retrieved from http://www.business-standard.com/article/news-cd/j-d-power-2015-study-reveals-latest-indian-car-buyer-trends-115093000877_1.html
33. Shiraki, M. (2015, April 2). Toyota to end expansion freeze, invest $1.3 billion in two New Mexico, China plants: Sources. Reuters. Retrieved from http://www.reuters.com/article/us-toyota-factory-mexico-china-idUSKBN0MU05L20150403
34. Stewart, T. A., and Raman, A. P. (2007). Lessons from Toyota’s long drive. Harvard Business Review. Retrieved from https://hbr.org/2007/07/lessons-from-toyotas-long-drive/es
35. The Economist. (2009, March 27). Moving on up. The Economist. Retrieved from http://www.economist.com/node/13173671 Assignment 4 41. Becker, R. M. (2016). Lean manufacturing and the Toyota production system. SAE International. Retrieved from
https://www.sae.org/manufacturing/lean/column/leanjun01.htm 42. Oanda. (2016). Currency converter. Oanda. Retrieved from http://www.oanda.com/currency/converter/ 43. Oracle. (2016). Understanding RFQs in PeopleSoft purchasing. Oracle. Retrieved from
https://docs.oracle.com/cd/E39583_01/fscm92pbr0/eng/fscm/spog/concept_UnderstandingRFQsinPeopleSoftPurchasing-9f3c1a.html 44. QIMacros. (2016). Lean Six Sigma. QIMacros. Retrieved from https://www.qimacros.com/lean-six-sigma-articles/lean-six-sigma/ 45. The Deming Institute. (2016). The fourteen points for management. The Deming Institute. Retrieved from
https://www.deming.org/theman/theories/fourteenpoints 46. Toyota. (2014, September 12). Toyota welcomes two new on-site suppliers to its team. Toyota. Retrieved from
http://corporatenews.pressroom.toyota.com/releases/tmmtx+welcomes+new+on+site+suppliers.htm
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