Innovation Argumentative Essay Example

global sales went down by 21.9% last year, with the biggest losses occurring in the US and Europe. Additionally, the strong Yen affected Toyota as well. Despite the significant drop in sales during the previous fiscal year, Toyota anticipates losing another one million unit sales globally in the upcoming year. However, analysts believe that Toyota will handle the automotive downturn with less difficulty than its domestic competitors.

Toyota, headquartered in Aishi, Japan, has established a strong financial base by generating multi-billion dollar profits over the years. In order to adapt to the economic decline, the car manufacturer has implemented several actions including global lay-offs of temporary workers, providing buyout options for American employees, and halting construction of its Mississippi assembly plant. Moreover, Toyota has been actively cutting down manufacturing costs and is anticipated to strengthen these endeavors in the upcoming year.

Question 4: The new president of Toyota states that while many people see Toyota as the top global company, consumers mainly prioritize being the leading company in their local area. How do you interpret this statement?

Answer: When consumers want to purchase or select a product, they typically focus on companies within their own country rather than comparing every company worldwide. This mindset led Akio Toyota (grandson of the founder) to state that while everyone may perceive Toyota as the best company globally, what truly matters to consumers is if Toyota is the best in their own town. If Toyota can excel at being the best within that specific location, consumers will readily accept them.