One major industry that Japan is really proud of is its automotive industry. But with the global recession, what does the future hold for トヨタ自動車株式会社, Toyota Jidosha Kabushiki-gaisha or in short, TMC (Toyota Motor Corporation)? There’s enough been said about companies and consumers tightening their belts so I won’t dwell on it too much. And it’s true, no one has really benefited from it all but the fact remains, Toyota is still, let say to a certain extent, ichiban, believe it or not? It’s still far better than GM or Chrylser. Admittedly, it’s down in sales, import and especially export-wise, one can only imagine the knock-on effect should Japan’s no. 1 automaker falls. It’ll be insurmountable! My father-in-law for instance will be out of a job.
Those who can remember, Toyota introduced a strong 'work ethic' namely kaizen (improvement) and it has reinforced its financial health since then. They’ve developed eco-friendly hybrid cars and became the leading developers of eco-technology. Amidst to its breakthrough, the US hit rock bottom and the carmaker faces its first major losses in many years. Times are tough (and it’ll get tougher) and recovery will take time and that’s why Toyota’s motto of ‘going back to the fields’ means going back to our roots really means a lot to the J-peeps. That’s one of the reasons why they’ve decided (and with much debate) to make Akio Toyoda, grandson of the carmaker’s founder, next president of TMC.
Although times are changing, Toyota isn't really moving with it and nepotism isn’t dead and buried, and gone to heaven yet. J-peeps embrace it and believe going back where it all began will help them in times of trouble. At least, that's what this automaker believes.
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