Key Success Factors of Toyota

Key success factors (KSFs) are those elements which persuade the potential of industry firms to boom in marketplace. On the basis of key success factors customers make a decision between the rival brands. Toyota is one of the largest global manufacturers of Vehicles. Some of the Key Success Factors of TOYOTA are given as:

Production and Manufacturing Facilities

Toyota has manufacturing plants in most parts of the globe. It assembles or manufactures automobiles for local markets. Toyota follows the JIT Production and "Lean Manufacturing", which is one of the important key success factors. Its business methods managerial views are known together as the Toyota system. Toyota has long been recognized as industry leader in manufacturing and production.

Extensive Research & Development (R&D)

R&D values of the Toyota are based on Quality, durability, reliability, value for money, environmentally-safe, convenient. Toyota has initiated new technologies including first bulk-produced hybrid gasoline-electric automobile, which had a sale of two million worldwide in 2010. Toyota has various facilities such as: Advanced Parking Guidance System (APGS) (automatic parking), a four-speed automatically controlled with buttons for economy shifting and power, and an eight-speed automatic conduction. It has produced Scion and Lexus vehicles; renowned for reliability and quality.

Management Philosophy

Toyota’s management values have developed from the firm’s beginning.  The company follows JIT distribution method and adopts the values specified from a (WWII) United States government training agenda. It is likely that all these and further is factual in spite of the origin the philosophy illustrated by Toyota.

Innovative Activities

Toyota started the "Innovative International Multi-purpose vehicle" plan (IMV) to optimize worldwide manufacturing and supply method for multipurpose automobiles and pickup trucks. The company was also trying to gratify market demand in more than 142 countries globally. IMV labeled for gasoline engines in Indonesia, diesel engines in Thailand, supply to the countries stimulating with automobile manufacturing from Philippines and manual transmissions in India. For automobile assembly, it would use facilities in Indonesia, Thailand, South Africa and Argentina.

Capable Workforce and Management Philosophy

Toyota implemented the "Toyota Way 2001," an expression of principles and conduct guiding principle that all Toyota workforces should hold. The principles and beliefs are Continuous Improvement and Respect for People. It summarizes its principle values and accomplishes guiding principle with the subsequent five principles:
•    Challenge
•    Genchi Genbutsu (go and see)
•    Kaizen (improvement)
•    Teamwork
•    Respect

Distribution & Marketing Activities

Marketing and distribution efforts of Toyota have focused on the positive experiences of ownership, automobile quality, Meeting diverse needs, high quality sales and services, and close involvement with customers. Based on the “Toyota Way 2001”, the global Marketing Division formed The Toyota Way in Sales and Marketing (TWSM). The TWSM gives emphasis to the principle and values of placing the “customer first” and the importance of integrated action by dealers, distributors, and Toyota. Distributors from across the globe met in Los Angeles to talk about the potential of implementing the key TWSM values around the globe.  Toyota established the Global Knowledge Center (GKC) as a platform for sharing and learning best practices from different regions.