Toyota does everything possible to turn their customers into a quality support business with the self-service websites from the comfort of them and with the use of personal credit cards. Processes such as Top Coder, 99designs, Tongal, Innocentive, and Kickstarter have enabled the Toyota Company to serve its customers globally as demand or need is met faster than ever (Afuah. 2011). There is usually no gains from such ventures when downplayed downside of this convenience. If there is benefits, a new producer with a slightly more efficient approach to meet the market demand may arise quickly. The only form of profit left is monopoly gains which a company like Facebook is enjoying. This is because it offers unique services compared to the other social media platforms. Those are moments in time when a company offers no other is offering. …show more content…
For instance, Toyota has spent around 50 years of management principles in the past trying to get rid of risk while generating steady processes that could be recurring without changes. While Facebook has heavily invested in innovation overcoming risks recently. Innovation is inherently dangerous and requires time, and it involves changing company profile to foster innovation (Norris & Reddick. 2014). Articulation and communication of vision for the future Facebook has its vision for the future advancement in social networking connecting all people while Toyota has its vision where cars drive themselves. This future vision puts the two companies in the desire for safer and less congested paths in their respective fields. Toyota spends many resources annually on innovations for future automobiles. Facebook works to perfect its system for future social networking and advertisements. Toyota also relies heavily on the internet and social media like Facebook to look for future inventions and markets. Development and implementation of action