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Toyota Company Swot Analysis Essay

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2.3 SWOT Analysis
2.3.1 Strengths
Toyota Production System Toyota Production System(TPS) which also known as lean manufacturing system is developed by Toyota to provide highest quality, cost-effective and shortest lead time through the elimination of waste. This system has been established based on many years of continuous improvement. Basically, it comprised of 2 pillars which are ‘just-in-time’ and ‘jidoka’, which illustrated as a “house” (Appendix 2). Toyota possessed absolute competitive advantage on the efficiency of manufacturing by implement these concepts. Toyota becomes more outstanding compared to its peers because of TPS.
Strong Brand Recognition According to the BrandZ Top 100 Most Valuable Global Brand, Toyota is valued $29.5billion and it is the most valuable brand in the automobile industry. Leadership position of brand value ensures the consumer perception of confidence on the company future growth. It produces positive implications on consumer purchase behaviour directly. Toyota is a world leading company with a strong market position in different geographies across the world. This allows them to gain absolute competitive advantage and also expand into international market with such strong market position.
Strong Focus on Research & Development Toyota Corporation focus on R&D by expanding its product portfolio and improve every aspect of the products such as functionality, safety and environmental compatibility. They are concerned about improving the
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