Toyota Core Competence

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The core competence as defined by Reynaud & Simon (2006) defined approach postulates that the internal potential of a firm can determine its competitive advantages. Core competence showing the skills that the organization has, and let it different from the competitor. The skills can be human, technology and many other things. The company using these skill in selling a product or deliver a service. Using the skills will create sustainable competitive advantages for the organizations. After the organization applying core competence technic they will apple to answer the following questions: Which competence characteristics appear initially? With what and how can they be combined? Organizations can evaluate the existing core competence for sustainability,…show more content…
This core competence of value can be credited to its inventive generation rehearses. The quality part of Toyota 's items have altered the autos in the past and practically all the car organizations needed to attempt and better the nature of their items. It is a cornerstone of the cost leadership strategy that the company pursues. Toyota Motor Corporation is working towards the achievement of a better and more sustainable economy by having a stable international market. With advancement in new technology and other related matters, the company is investing in various technologies that will enable it to realize its set goals and objectives over next years. The Company has a well-developed and equipped network of expertise that are into research and development over aspects that are to keep the Company on top in product and service delivery to its global market. Also it has a wide range of distribution network all over the world which has enabled it to reach a portion of the market that is seeing it through to greater levels as mentioned in ToyotaGlobalSite…show more content…
Areas are Strengths, Opportunities, Weaknesses and Threats as mentiond by Helms & Nixon (2010). Strengths and weaknesses are internal factors while opportunities and threat are external factors. Strength is what the organisation good in while weaknesses are what the organisation is not good in. Opportunities include what the organisation do not have but can be applied. Threats are what the organisation has to do to mitigate from it if happened. Downey (2007) disscussed the questions which SOWT analsys can answer uner each area. Strengths are showing what does your company do better than others? What are your unique selling points? What do you competitors and client in your market perceive as your strengths? What is your organizations competitive edge? Opportunities show what political, economic, social cultural, or technology changes are taking place that could be favourable to you? Where are there currently gaps in the market or unfulfilled demand? What new innovation could your company bring to the market? Weaknesses show what do other companies do better than you? What elements of your business add little or no value? What do competitors and client in your market perceive as your weakness? Finally Threats is showing what political, economic, social cultural, or technology changes are taking place that could be unfavourable to you? What restraints to you face? What is your competition doing that could

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