Toyota s Ethics And Corporate Social Responsibility

The purpose of this report is to examine if the reasoning behind well-known car manufacturer, Toyota’s loss of revenue and leading market position is alone as a result of extensive product recalls following a fatal crash of a Lexus ES 350 on August 28th 2009. The journal article, â€Å"Toyota Crisis: Management Issue?† (Yuanyuan Feng 2010) provides an outline of the key factors that triggered the 2009 Toyota crisis, and explores whether the fall in the company’s returns by 19% were caused purely as a result of the recall and safety concerns, or something much deeper. I am proposing that the issues affecting Toyota’s ability to rebuild cannot alone be fixed by remedying the safety and manufacturing issues, but it must also work to rebuild the company’s reputation and rebuild stakeholder trust. As outlined by Stewart (2010), Toyota ended up with a full blown crisis on its hands largely because of the delay and mediocre response from Toyota. These management practices call in to question Toyota’s ethical practices and their commitment to corporate social responsibility (CSR) principles. 2. Discussion: In a world where loss of reputation can mean the difference between achieving positive revenue, maintaining market position or suffering substantial losses, it has become increasingly important to not only remain at the top of your field in manufacturing and innovation but to also demonstrate sound ethical practices. In order to be seen as a valued organisation and most importantly aShow MoreRelated: Critically Evaluate Corporate Social Responsibility as an Ethical Tool Basing Some of Your Argument on the Toyota Case Study1711 Words   |  7 PagesWhat Corporate Social Responsibility is Corporate Social Responsibility can be defined has an obligation beyond that required law and economics , for a firm to purse long term goals that are good for the society. This entails the continuing commitment by business to behave ethically and contribute to economic development while improving quality of the workforce and their families as well as that of the local community and society at large. Bhatia (2004) defined corporate social responsibility as aRead MoreThe Process Of An Organization1702 Words   |  7 Pagesefficiency. The final step is to establish action plans to improve existing processes and lead to a higher level in order to develop a competitive advantage in the market. Benchmarking process in the automotive industry has its beginnings in early 1970 s when US and European companies saw how the Japanese auto industry had a big advantage over its competitors. Thus, after 1980 Massachusetts Institute of Technology created a team in order to analyze vehicle assembly plants in Japan, with the aim of identifyingRead MoreEnvironmental Factors Affecting Globalization1321 Words   |  6 PagesSome other environmental factors that have a major effect on the marketing world are social, cultural economics, technological, and competitive. These factors surround the basis of the decisions made within marketing. Most organizations in the world today start out to function as domestic organizations. Domestic organizations aim to sell within their own country. According to love to know (2006-2010) the four P s of marketing- product, price, place and promotion- are often easier for companies toRead MoreThe Theory Of Social Responsibility1673 Words   |  7 PagesThe pattern of social responsibility will be demonstrated in this paper by noting a couple inquiries encompassing the thought and routine of social responsibility. The paper will start with characterizing the idea of social responsibility and noting the accompanying inquiries: What does Cohen feel is the social responsibility of a business to its workers, stakeholders, and society as a whole? How does this perspective align with that of Drucker? How does Cohen’s opinion compare with that of FriedmanRead MoreKants Non-Consequentialist Approach to Ethics,2038 Words   |  9 PagesReflective Essay Kant s non-consequenlialist approach to ethics The name of Comm101 is Principle of Responsible Commerce. Before I enrolled the Comm101, I have no idea about principle of responsible commerce. At the lecture on week two, teacher had the presentation about this subject what the responsible commerce is. Generally speaking, the corporation has the responsible for animal, thing or person and so on. In my own understanding, to a person, if one person wants to have success on the commerceRead MoreCorporate Social Responsibility in Automotive Industry1496 Words   |  6 PagesTEAM 1 | COMPANY | Aziz | Ford Motors | Manyano | Daimler | Magally | Toyota | Anvesh | Tata Motors | Executive Summary Automotive Industry is one of the biggest economic sectors in the world and the impact they have to the communities in their best practices has a huge advantage promoting corporate social responsibility. We looked and discussed various issues of CSR in the report not limited but including: Investing in the Future, Technology Drives Change Electric cars, Materials and WorkforceRead MoreA Report On The Automotive Industry2079 Words   |  9 Pagestheir business and adapt to another company to improve efficiency. This technique allows improving processes, reducing costs, increasing productivity and efficiency. Benchmarking process in the automotive industry has its beginnings in early 1970 s when US and European companies saw how the Japanese auto industry had a big advantage over its competitors. Thus, after 1980 Massachusetts Institute of Technology created a team in order to analyse vehicle assembly plants in Japan, with the aim of identifyingRead MoreImpact Of Corporate Social Responsibility On Company Performance And Profitability1949 Words   |  8 Pagesthat Corporate Social Responsibility (CSR) has on company performance and profitability. It will also assess the role of CSR in business activities and in general the theoretical foundations as well as Corporate Citizenship. Furthermore this paper will assess the notion that implementing CSR activities positively affects the image of the organization and can thus boost consumers’ attention and commitment to the organization, which leads to better financial performance for the firm. Corporate SocialRead MoreMNC Incorporation of Corporate Social Responsibility for Strategic Planning2117 Words   |  9 Pagesface particularly demanding challenges when it comes to managing their corporate social responsibilities†. Critically discuss this statement using real business to support your arguments Boatright (2006) contend that corporate social responsibility denotes the responsibility recognized by a company for acting in socially responsible manner. There is no single universally accepted definition of corporate social responsibility, it has generally come to mean business decision making linked to ethicalRead MoreToyota Motor Sales, U.s. Essay853 Words   |  4 PagesBackground Toyota Motor Sales, U.S.A, Inc. or TMS has always proved to be a formidable force in the automobile industry. The United States first graced with TMS presence in 1957, in Hollywood, California, sold the dealership s first car, the Toyopet Crown, to 287 customers (Toyota, 2015). However, over the past six decades the company became a driving force in the market. TMS emphasizes on customer satisfaction. In fact in its publicly disclosed purpose, the company states, you are what drives