PESTEL Analysis of Toyota

PESTEL Analysis of Toyota Toyota Motor Corporation was established in year 1937 by its founder Kiichiro Toyoda, headquartered in Toyota, Aichi, Japan. Its a part of Toyota Industries which diversified into automobiles. In 2009 Toyota Motor Corporation was declared as the largest automobile manufacturer in terms of sales and production in the world. It has more than 320,000 employees worldwide (Arkadi Borowski, 2010). It includes Toyota, Lexus, Daihatsu and Hino Motors. The product range of Toyota Motors Corporation is very large and includes cars, sport utility vehicles, trucks, electricity driven vehicles, crossovers and luxury-type vehicles. Its total revenues per year are more than 30 trillion Yen. Some of the key persons are Fujio Cho (Chairman), Katsuaki Watanabe (Vice Chariman) and Akio Toyoda (President). Importance of external environment analysis Often the external environment is the one which cannot be controlled by individual compared to internal environment. However, these factors are responsible for most of the decisions taken by the company and help in understanding the limiting factors. Without analysing the external environment it is difficult to draft a successful strategy (Michael A. Hitt, R. Duane Ireland Robert E. Hoskisson, 2009). Without proper analysis of competitors it would be difficult to craft a strategy to compete with them (Robert E. Hoskisson, Michael A. Hitt R. Duane Ireland, 2008). It is also necessary to understand the culture of the country in which the company is operating (Kip Becker, 2000). The kind of political stability and government ruling in a country is also a crucial factor in choosing the country (R. K. Singh, 2009). The key analysis areas would be the political condition of the country where the company is situated, the economic growth of the target market, technological factors, legal factors and ecological factors. These factors provide the overall impact of these factors on the company. These all factors in combination can be termed as microenvironment analysis. Justification of choice of analytical framework For analysis of the above environment issues and factors PESTEL framework can be used appropriately since PESTEL framework provides the overall impact of the external environment on the given company/firm. PESTEL framework which is complete in itself since starting from the Political to Economic to Sociological, Technological, Ecological and Legal aspects of any firm and hence analyses the overall macro environment for any company. External environment analysis: PESTEL Framework In the below analysis the PESTEL model is used to see the effect of various parameters mentioned below on the industry and their impact on Toyota with respect to the human resource policies of the company. This will help us to get better insight of the effect of these external parameters in crafting of human resource policies. Political: Political aspect of the framework consider the factors like trading policies, Funding grant and Initiatives, International pressure group, wars and conflicts, government policies, terrorism, political trends, government leadership and structure in which a company is dealing. Basically the political environment of the region in which company is dealing affects its policies a lot. Since due to recent economic downturns in which government in different nations played a major role in helping the companys to cope up with extreme economic situations. And for a company like Toyota which is operating in so many nations and has such a wide range of products that the political interference by the government becomes very important in such cases. The policies of the government and earnings of the bank also affect the macro environment due to which big impact comes on the company. Due to the US government intervention in the recruitment process of the companys who is advocating to provide more and more in house jobs so the company now have stopped hiring their manpower from home nation but hiring major portion of their manpower from the US for their US operations. Also they take into consideration the political dynamics of the country and avoid any issues that can generate from the already existing unhealthy political relations of the two countries like the company has operations both in India and Pakistan but they avoid relocation the employees of both the countries in the opposite countries. Economical: Economic aspect of the PESTEL environments investigates into all the external economic factors related with the company, impact of these factors on the company favorable or unfavorable. Economic analysis in PESTEL framework includes economic situations and trends in home country, economic trends overseas, taxation rules, market and trade cycle, disposable income of the customers, demand and supply effects, CPI, exchange rates, inflation rate etc. All these factors are very important to the company as they directly affect the revenues of the company. For most of the rising economies of the world Toyota is a pillar company since without Toyota in automobile industry it is not easy to develop the steel business, glass sector or plastic industry. Though Toyota at present is facing rising losses due to improper structure of some of their automotives which they have to recall in large numbers due to which company have to incur big losses from year 2007 till date. Economic factors have contributed maximum for the HR policy changes in Toyota and other forms as well. As with the recent recession which almost impacted the countries around the world, companies have changed themselves a lot so as to cope with the current situation in the marketplace. Economic factors such as customer demand, inflation rate, disposable income and GDP growth rate has a major impact on the HR policies of the company. Some of the major impacts of the economic factors are as follows: Recruitment policy: Since during economic slowdown demand for the companys product will reduce hence the demand will also reduce for the employees of the company. Hence the recruitment policy of Toyota also gets affected during the recent slowdown in the economy. Toyota minimised the input of employees they were hiring in previous years. Even the rewards and incentives suffered due to economical slowdown. Layoffs: There have been various cases in the past where the employees were laid off due to financial crisis in this industry (Jeremy W. Peters, 2005). Though at Toyota which is provides assurance to its employees that they will not be laid off until extreme conditions but due to the bad economic condition world-wide and the losses which company have incurred due to recall of various model of its cars they have to lay off the people who were performing reasonably good. Relocations of staff: During the economic crisis need for the efficiency of the employees get increased so the process of retraining and relocation get increased. At Toyota also during recession special training were provided to the employees to increase their productivity and due to limited number of staff employees were shifted from one place to other according to the requirement. Location choices: Human resource department of the company is also looking in to hiring more from the country and thus trying to take most of their work from the country which offers better export and import policies and where the overall cost is less which could be due to cheap available labour or raw material, tax concession and lesser tax rates offered. Sociological: Sociological parameters of the macro environment analysis of the company includes the consumer attitude and behaviour, media news, trends, diversity, education, lifestyle changes, demographic changes, ethical issues, employee attitude, management style etc. Toyota Company works as a part of the society as it employs millions of people directly and indirectly. Its various products have revolutionalized the society by changing trends in mobility world. Ethically Toyota motors is taken as one of the strongest company as despite of huge losses they have recalled some of their car models and have repaired many cars which were having minor defects at free of cost. Toyota understand that there are cultural differences in every country and it is reflected even in the way of working and hence they prefer to employ people of the same country as of the country in which there offices are located so that it is easier for the employees to adjust to the work cultural. Also, the avoid relocation of employees unless it is very essential. Technological: Technological aspect of the framework includes the competing technology development, research funding, replacement technologies, maturity of technology, information and communication, Innovations, research etc. The technological investments made by Toyota are huge and it has always being pioneer in technological field. It is always known for its innovation initiatives, replacement mechanisms, and research funding and other initiatives. The large investments which Toyota has made in technical field have increased the risk and uncertainties for the company. The technological environment is changing at a fast pace so the companies need to cope up with this change. Henceforth, more number of employees with the highly functional skills is required for coping up with those changes. Toyota also promoted various trainings among employees to abreast them with latest technological advances. Following are some of the HR policies changes which have been observed due to the changes in the technological factors: Numerical flexibility: Numerical flexibility refers to the flexibility in the workforce in term of number of workforce employed in the company. Due to the technological up gradation and automation of various operations the number f recruitments have decreased over the year. Most of the temporary workers or agents who were working at Toyota were released from their services at Toyota while some of the Toyotas real work force was downsized. Functional flexibility: It is a special skill with the employees of the company that they are functionally flexible and trained for multiple skills. Since such employees can be proved as of great importance to company at the time of crisis. At Toyota employees are trained more on job and they are trained for multiple skills and they are functionally flexible and can work different work whenever required. So during economic crisis the employees were made functionally flexible and were involved into many a functions. Ecological: Environmental aspect of the PESTEL analysis takes into accounts the ecological factors, environmental regulations, customer values etc. The environmental factor has big impact in case of Toyota as the Environmental factors especially customer values and regulation decide the fate of any business. Toyota has established many RD centres to make use of its infrastructure and human capital resource which is very crucial for Toyota. Toyota spends as much as $1.1 billion per hour for research and development purpose so as to improve the quality of technology in order to minimize their carbon foot prints. In order to encourage employees to conserve energy and minimize the wastages it started an initiative to reward the employees for doing so. This helped in establishing a culture where the employee became more aware and conscious about the environment and participated in saving it (Kathryn Tyler, 2006). Legal: Legal framework considers the factors like current legislations in the home market, future legislations, regulatory body and processes, employement laws etc. Toyota Company is subject to various legislations such as competition laws, intellectual property laws, consumer protection and taxation etc (Terry Halbert Elaine Ingulli, 2008). When the auto industry reached to development efforts were made so as to create a web of local suppliers that make possible to meet the growing legal requirements for the national integration of production. Toyota gives a lot of emphasis on whistle blower policy and has even drafted a document that explains the legal rights of the employee regarding this. They also have strict norms against sexual harassment and discrimination among employees on the basis of race, colour or nationality. They have outlined code of conducts for employees so that they do not violate any of these laws and are very strict on these especially after the Sayaka Kobayashi sexual harassment case in 2006. Conclusion: It is evident from the above analysis that the external environmental factor has a huge impact on the human resource policies of an organization especially in the case of the Toyota. Though Toyota always believe in consistent and fair HR practices providing clean and safe work place to employees but the impact of the recession which was a major economical factor was apparently observed even in the HR practices of the company. The company was always committed in providing stable employment to employees and rewarded with rapid promotion to skilful worker but due to recession and various other external factors Toyota reduced the number of new recruitments and was even forced to lay off the employees. The employees were asked to relocate and functional flexibility was demanded from them. Even the rewards were then depended on the profitability. The company is very serious about the environment and has initiated a go green mission where they give incentives to employees for minimising the wastage and saving the energy. They give a lot of emphasis on training and cross functional culture due to dynamism in technological advancements. They have very strict norms for unethical practices, sexual harassments and whistle blowing policy. Thus we can conclude that external environmental factor has a huge impact on the HR policies of a company and they are highly related as company has regularly addressed these problems by bringing changes in their policies.

Different Degree Levels in Nursing Essay

Nursing is a wonderful, rewarding profession to enter, and it must be chosen for all the right reasons. Today many nurses are faced with a difficult decision to return to college. For those of us who wish to continue to advance our nursing career; we continue to need the educational assistance that is necessary to advance our nursing skills. With nursing there are so many paths one can obtain after achieving your RN. You just need to choose what path is right for you. Basically there are two of the most common degrees to choose from the Associate’s Degree of Nursing (ADN) or Bachelors Degree of Nursing (BSN). Many do not realize the difference between the two. However there are many differences, but both nurses subscribe to the same nursing philosophies. With that being said, the ADN is about a two-year program while the BSN is a four year college or university. Another differences between ADN and BSN, is the ADN is 72 credits and the BSN is 125 credits. Today many nurses are faced with a tough and difficult decision. They are asking themselves what is the right choice for me? Why should I return to school? What are the benefits going to be for me after completing my degree? Truly, when it comes down to it only the nurse can decide and make the necessary decision. The associate degree level of nursing was developed out of a need to produce nurses in response to a shortage during and following World War II (http://nursing. adelphi. edu/about/history. php,n. dHYPERLINK â€Å"http://nursing. adelphi. edu/about/history. php,n. d. â€Å". ). In return many students who choose nursing were leaving only after a few years, thus creating a shortage. The ADN of nursing typically focuses on clinical competencies, fundamentals and technical skill needed to care for the patients. Also, the ADN degree promotes more task-oriented nurses, basic theory and the judgment to function at the entry level. They must also demonstrate the skills necessary in life-saving practice. It generally takes about two years at a community college and the cost for this degree is more manageable. Once the nurse proves their competencies by passing the NCLEX-RN they can obtain a state license. The benefit of having ADN is that the degree itself is a much shorter timeframe and a much less expensive to complete to become a registered nurse. â€Å"In 1965, the American Nurses Association (ANA) designated the baccalaureate degree as the educational entry point into professional nursing practice† (Friberg, page 3). The Bachelor of Science (BSN) in nursing typically takes a person four years to complete at a state college or university. The expense of a four-year degree is costly for some who are trying to be sparing with their college education. The BSN requires the ability to think logically and critically in patient care settings. The curriculum places emphasis on leadership and management in the nursing setting. Also it broadens the knowledge of patho-physiology of diseases, deals more with public issues and refines to a deeper assessment of nursing skills. One of the many benefits of having a BSN allows one to gain more experience and more responsibility. Also, allowing one to further their education in nursing by obtaining a master’s degree, nurse anesthetist, and nurse practitioner. The BSN also allows for a salary increase. It is unreasonable to think that this situation is going away anytime soon. With that being said, looking into the future today most hospitals are trying to achieve Magnet status. â€Å" The nation’s Magnet hospitals, which are recognized for nursing excellence and superior patient outcomes, have moved to require all nurse managers and nurse leaders to hold a baccalaureate or graduate degree in nursing by 2013†(Rossester 2012b). One thought to this is to have nurses obtain the most knowledge possible, and the know how to think in critical situations when they arise. One of my patient care situations that I can recall is when I was working on the telemetry floor in our local hospital. I was with a few other nurses, having their associate degree and two with their bachelor degree. Let’s call the ADN nurse A and the BSN nurse B. So, we were all around the nurse’s station waiting to give report to the next shift and one of the nursing assistants came running down the hall saying, one of the patients in room say 420 is not responding when I try to call her name. Nurse A and Nurse B both went into the room and the patient had no pulse and wasn’t breathing. Nurse B immediately started CPR and took charge in calling a Code. The code team arrived at this time. Nurse B asked if Nurse A could take the patient’s blood sugar and hang some fluids and get the patient on the monitor. Nurse A was also well in keeping the family and the people in the hallway calm and relaxed. The patient in the end was transferred to the ICU where they can better care for the patient in this critical situation and the physician was notified. Nurse B was more knowledgeable and had the necessary leadership skills along with the advanced critical thinking skills that this situation required. Nurse A was competent and did what was expected of the skills she had. In conclusion, I believe that having your ADN degrees is a quick way to gain the necessary knowledge and skills to enter into practice and the cost is less. The BSN allows one to prepare for management and leadership decisions. Also allowing for more critical skills and providing better career opportunities along with higher pay. As I reflect back on my education and skills and the future I recommend all nurses should receive their BSN. References http://nursing. adelphi. edu/about/history. php. (n. d. ) Friberg, Creasia (2011). Conceptual Foundations: The Bridge to Professional Nursing Practice [5] (VitalSource Bookshelf), Retrieved August 14, 2012, from http://pageburstsls. elesevier. com/books/978-0-323-06869-7/id/B9780323068697100029_f0010. Rosseter, R. (2012b, April 2). Fact Sheet: Creating a More Highly Qualified Nursing Workforce. American Association of Colleges of Nursing. Retrieved August 14, 2012, from www. aacn. nche. edu/edia-relations/Nursing Workforce. pdf.

The Benefits of Introduction for John Locke Essay Topics

The Benefits of Introduction for John Locke Essay Topics Pick 1 thing you can do in order to begin to walking toward what you desire. The notion of men having the capability to be shaped by the community is observed among Owen's work to prepare the model community. All you need to do is to promote your classes first so that everybody comes to understand about doing it. A blind man, for instance, wouldn't be in a position to form a notion of color. The Advantages of Introduction for John Locke Essay Topics Boone ironically claims that he is going to stick with Locke in case the plane crashes, but inside this alternate universe, the plane doesn't crash. As stated by the philosopher, an individual's right to be free can be regarded among the fundamental principles of the State of Nature. Locke, on the flip side, believes that folks are reasonable and do not have to be forced to do anything. He sees the government as a body that makes sure that the rights of all people are protected. He stressed that people are supposed to decide how they would like to be ruled and by whom. He holds the idea that people are innately peaceful and strive to look for the ways to co-exist rather than compete. Among the sharp differences between both philosophers is the best way to contain the rule of the sovereign. His definition of knowledge may be stated, then, since the perception of the connection between ideas. From this definition it follows our knowledge doesn't extend beyond the range of human ideas. Your history is simply that, history. According to him, the organization of a political society is to be dependent upon racial liberalism. As an example, freedom of speech is important to individual improvement. The liberty of speech is an important element of an open democratic society which ought to be guarded by the law. Plato, below the 21st century paper. What Is So Fascinating About Introduction for John Locke Essay Topics? Provide all the first details, let us know about the deadline, and we'll begin making your paper to help you receive high grades. Even in the event the deadline is truly tight, feel free to get hold of our managers. Taking online tuition classes is among the easiest methods for income, where you don't need to go anywhere, even and can receive a handsome quantity of money right from your dwelling. Promoting your work on the internet is quite simpler than the other medium. Lower your workplace heists. Choosing our service, you are going to understand that studying can be simple if you gain from the aid of capable experts. Thus, the very first learning experience is immensely critical for a kid. An individual should not dismiss the value of group activities. Their reading abilities and vocabulary is strong enough than people who don't attend a fantastic main school. The Good, the Bad and Introduction for John Locke Essay Topics For demand, goods are in demand since they yield a stream of revenue. There's a frightening number of low quality, meaningless work on the industry. The state has a part in ensuring that diverse assortment of suggestions and opinions are accessible. In reality, bottled creative energy is a terrific supply of tension and anxiety. Introduction for John Locke Essay Topics Fundamentals Explained Rights of property are extremely important, because each individual has a right to the product of her or his labor. The condition of nature exists wherever the re's no legitimate political authority able to judge disputes and where folks live in line with the law of reason. In the event the executive power fails to supply the conditions under which the individuals may enjoy their rights under natural law, then the individuals are eligible to remove him, by force if needed. For instance, citizens can have the ability to practice any religion they feel is fantastic to them as far as it does not lead to harm or interferes with different people's interests. It's the number one killer of chickens in Asia and other areas of the world. Raising chicks from babies to healthy chickens really isn't the simplest thing to do in the planet, but if you're successful it is extremely gratifying and will provide you with some remarkable pets. At the time that your chickens are totally grown they do not need an excessive amount of attention to keep healthier. Another annoying behavior that you can have to be on the lookout for when raising chickens is known as broodiness.

Social Security and Medicare Seeing Through Loopholes Essay

People receiving Social Security and Medicare need to prepare for drastic changes. Social Security and Medicare in unity has been around since 1965. President Lyndon B. Johnson decided to help the elderly pay for expensive medical necessities from doctor visits to medicine. President Johnson knew that elderly individuals would have less income and pay more for medical necessities than younger individuals. He made Social Security and Medicare a number one priority during his presidency, unaware years down the line funding would become scarce and so many doctors and pharmaceutical companies would try to squeeze the life out of it. Through the years doctors’ and pharmaceutical companies have become greedy. Doctors diagnose patients,†¦show more content†¦For example, the benefits are made up of taxes taken from the working class people and distributed by a circular calculations based upon the cost of living. In Joseph and Dorothy Matthews book Social Security, Medicare Government Pensions they point out the different obstacles funding these programs will face: Social Security is facing pressure to lower benefits†¦ due to longer life-spans, an overall population increase †¦the Baby Boomers beginning to reach retirement age, and the increase in the number of people receiving Social Security and Medicare benefits. If the system continues as-is, the total benefits will eventually surpass the amount of taxes paid into the system by younger workers. If the system is not altered at some point full benefits will not be paid as promised. (13) Furthermore, in a decade Social Security recipients will face further denial of benefits, whether they are eligible or not due to the decrease of funding payouts. While currently eligible recipients fall short of receiving benefits and hire attorneys to battle for their money’s. Within a decade denial of benefits will become a more established problem with a greater failure rate, one of the main reasons why changes are in the making early. Those fortunate to receive benefits will still face problems with choosing plans that may or may not cover the type of specialist needed for their particular illness or disease, but Social Security andShow MoreRelated The Bill of Rights: Americas Last Defense Against the Federal Suffocation of Civil Liberties?1833 Words   |  8 Pagesto restrict many rights that are not expressly declared in the Constitution and the Bill of Rights. Perhaps, it is necessary to convene a convention dedicated to defining and expanding the protected rights and to put these revisions to the people through normal amendment processes requiring ratification by three-quarters of the states. nbsp;nbsp;nbsp;nbsp;nbsp;To begin, we need to understand what a â€Å"bill of rights† is and where it comes from. Bills, or lists, of rights litter American colonialRead MoreCase Scenario1762 Words   |  8 Pagesprovide access to medical services. In the past, particular groups of people have been selected based on their economic status or their distinctive social circumstances. The policies include Medicaid (for poor children), Medicare (for the elderly), Veterans’ Administration (for veterans), Indian Health Services (for Native Americans) and renal failure security (for transplants and kidney dialysis). The purpose of this study The research’s main focus is to investigate the how government and nursesRead MoreBhopal Gas Disaster84210 Words   |  337 PagesCommissioner. Assistant Registrar of Gas Welfare DS Solanki told The Pioneer that the claim was accepted only after going through attached documents that include age proof. Speaking on the particular case, the assistant commissioner said the genuineness of the claim could be cross checked after verification of attached document. Mr Solanki assured that they would again go through the documents and take action against the guilty on discovering the fraud. Pioneer / Delhi 23/01/06 Bhopal gas victimsRead MoreContemporary Issues in Management Accounting211377 Words   |  846 Pagesinformation and cyber security, cost management systems, and capital investments. He is the author of more than eighty-five articles, published in such journals as The Accounting Review; Journal of Computer Security; Journal of Financial and Quantitative Analysis; ACM Transactions on Information and System Security; Communications of the ACM; Accounting Organizations and Society; Journal of Accounting and Public Policy; Journal of Business Finance and Accounting; Computer Security Journal; Managerial