Toyota Motor Corporation’s mission statement and vision statement guide the company’s success trajectory. Founded in 1937, Toyota is now one of the most popular global firms. This popularity reflects the company’s mission statement and vision statement, which emphasize a comprehensive approach that considers innovation and customers’ needs. Toyota’s mission statement reflects the company’s strategies and strategic objectives. On the other hand, Toyota’s vision statement indicates the long-term direction of the business. The company continues to follow through with implementing strategies to address its long-term goals. Toyota is currently one of the top automobile manufacturers in the world. The business adheres to the requirements contained and implied in its mission statement and vision statement. Toyota’s global success points to the fulfillment of its mission and vision statements.
An analysis of Toyota’s vision statement and mission statement gives insights on the company’s strategic direction, objectives and actions. The mission and vision statements also help employees understand The Toyota Way, which is a unique set of strategies the firm uses.
Toyota’s Vision Statement
Toyota Motor Corporation’s vision statement indicates the company’s long-term strategic direction in the automobile industry. This vision statement reads, “Toyota will lead the way to the future of mobility, enriching lives around the world with the safest and most responsible ways of moving people. Through our commitment to quality, constant innovation and respect for the planet, we aim to exceed expectations and be rewarded with a smile. We will meet our challenging goals by engaging the talent and passion of people, who believe there is always a better way.”
In this vision statement, Toyota includes major areas of its business. The vision statement states that the company aims to achieve leadership in the global market. The vision statement also shows that Toyota moves forward based on quality, innovation and environmental conservation. Thus, Toyota includes corporate social responsibility in its vision statement. In addition, the company emphasizes human resource development, as shown in the “talent and passion of people” component of the vision statement. Therefore, Toyota’s vision statement is holistic because it encompasses strategic goals for business leadership, product quality, human resources, and corporate social responsibility. These points of the vision statement have direct correlation with the points in Toyota’s mission statement.
Toyota’s Mission Statement
Toyota Motor Corporation uses various mission statements for its businesses in different markets. However, with regard to the business of automobile manufacturing and sales, the company’s mission statement pertains to its strategic actions in technology. Thus, Toyota’s mission statement is as follows: “Create vehicles that are popular with consumers.” In expanded form, Toyota’s mission statement includes the following strategic actions:
- Provide world-class safety to protect the lives of customers.
- Provide optimization of energy/infrastructure to local communities.
- Put high priority on safety and promote product development with the ultimate goal of “completely eliminating traffic casualties”.
- Deliver cars that stimulate and even inspire, and earn smiles from our customers.
- Address employees’ education under “Genchi-genbutsu” philosophy, which is to go to the source to find the facts to make correct decisions, build consensus and achieve goals at our best speed.
- Through true mutual trust with partners, contribute to the development of new technology and improved expertise.
- Contribute to economic development of local communities with R&D operations functioning effectively in each region.
Toyota’s mission statement focuses on products. The firm always considers the preferences and expectations of consumers, arguably based on trends and market research. In the strategic actions encompassed in its mission statement, Toyota emphasizes quality of products, with reference to such criteria as safety and customer satisfaction. In addition, Toyota’s mission statement specifies employee education as a way of achieving the human resource development aim in its vision statement. Also, this mission statement shows that Toyota maintains its commitment to technological innovation. Innovation is seen as a way for the company to achieve its aims in product quality, customer satisfaction, and corporate social responsibility. Thus, Toyota’s mission statement is holistic and aligned to its vision statement.
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