Choose a company that has both a mission and vision statement. This should not be the same company you will choose for the assignments for Weeks 2-5.
Prepare a minimum 700-word summary in which you address the following:
Identify the company’s mission statement.
Identify the company’s vision statement.
Explain what role these have on the way the business operates. Evaluate whether the company’s actions seem to align to their vision and mission statements.
Examine how the mission and vision of the organization might affect or guide you as an employee or manager in the company.
Analyze what you think would be the effect if the company did not have a mission statement.
Format your paper consistent with APA guidelines.
Cite a minimum of two peer-reviewed references.
Toyota Company: Alignment of Vision and Mission Statements
Toyota Motor Company’s vision statement gives a clear indication of the company’s long term strategic plan on development within the automobile field. According to (Imani, 2017), the vision states that “Toyota will lead the way to the future of mobility, enriching lives around the world with the safest and most responsible ways of moving people. Through our commitment to quality, constant innovation and respect for the planet, we aim to exceed expectations and be rewarded with a smile. We will meet our challenging goals by engaging the talent and passion of people, who believe there is always a better way.”
Toyota’s mission statement is as follows: “Create vehicles that are popular with consumers” (Imani, 2017). The company applies various mission statements in running its business among various markets with high regard to the strategic set missions in relation to technological innovations. Both the company’s vision and mission statements have key roles in the operation systems of the company. The vision statement aids in achieving leadership goals of the company in the entire global market and enhancing the forward movement of the company on the basis of innovation, quality products and environmental conservation.
The company’s actions, therefore, seem to align to their vision statement through its direct emphasis on human resource development through talent and passion for citizens. The company equally encompasses set strategic goals in conjunction with business leadership, human resource management, quality of products and corporate social responsibility.
The mission statement has a direct impact on the business’ operation system since it ensures world-class safety provision geared towards protecting customers’ lives and directly optimizing infrastructure and energy resources to the benefit of local societies (Thompson, 2015). The company’s mission also prioritizes promotion of product development and safety provision whose ultimate goal is complete elimination of traffic casualties.
The company’s action equally aligns with its set mission statement through putting direct focus on products where the firm considers all preferences and consumers expectations in regard to trends and related market research. Toyota further focuses on quality of products which is clearly captured in the mission statement with reference to customer service satisfaction and safety criteria. The firm also puts emphasis on high employee education for reasons of achieving development and advancements in human resource department (Toma, 2017). Toyota maintains high level of commitment towards technological innovation which is considered a channel for the company to achieve corporate social responsibility, customer satisfaction and high-quality products. Therefore, the mission statement is very holistic and fairly aligned to set strategic goals.
The company’s vision and mission might guide me as a manager within the company on how to address employees’ education enhancement through allocation of facts and formulating proper decisions through building of consensus towards achieving set goals at a remarkable speed. It would also create mutual interactions, partnership and contribution to new technology development through high quality expertise (Epstein, 2014). This in turn would enhance economic development of all local communities within the company’s location and ensure proper functioning of operations in each set region. This can also be achieved through delivering cars and motors that inspire customers.
In case a company lacks mission statement, there would be less comprehension approach with zero consideration on innovation techniques and addressing of all customer needs. Mission statement are a backbone to a company’s strategic goals and objectives with the aim of directing a company on a long-term scale. The company will, therefore, be unable to address issues in relation to production especially in the case of Toyota as it is recognized as the most popular motor firm in the world.
In conclusion, both the company’s vision and mission statements have key roles in the operation and management systems of the company. They act as a guidance that managers can essentially use to help them while addressing employees’ education enhancement through allocation of facts. The vision statement aids in achieving leadership goals of the company in the entire global market and enhancing the forward movement of the company. Mission and visions in a company are also important as they are the backbone to a company’s strategic goals and objectives as well as ensuring long-term success.
Epstein, M. J., &Buhovac, A. R. (2014). Making sustainability work: Best practices in managing and measuring corporate social, environmental, and economic impacts. Berrett-Koehler Publishers.
Imai, N. (2017). Toyota Production System for Business Process Management. Holistic Business Process Management: Theory and Practice,14, 57.
Thompson, A. (2015). Toyota’s generic strategy and intensive growth strategies. Retrieved April, 27, 2016.
Toma, S. G., &Naruo, S. (2017). Total Quality Management and Business Excellence: The Best Practices at Toyota Motor Corporation. Amfiteatru Economic, 19(45), 566.