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Recent Papers 12-24-2021

Toyota Human Resource Management

To run a company efficiently, the HR department has to play its role perfectly. The job of an HR department is to entertain employees and solve their queries. HR also plays an important role in hiring and firing employees. The salaries, commissions, benefits, bonuses, etc, all are decided by the HR department.

What Is The HR Strategy Of Toyota?

Toyota is one of the leading vehicle manufacturing companies in the world. Today we will be discussing how Toyota has grown and how it has expanded its business.

Expanding Markets

Toyota motor has been creating innovative products for the past several years. They come up with products that are user-friendly and problem-solving. Be it their high-performance cars, trucks, car equipment, etc they all are outstanding when it comes to performance. They always look forward to expanding their market by introducing new and reliable products. Toyota Corolla is one of their leading cars in the world especially in Asian countries such as India, Pakistan, and Bangladesh.

Since the world is moving towards electric cars so recently they have announced that they will be designing electric cars soon. This attitude of Toyota keeps them alive in the market. Unlike other companies, they are not left behind. Their attitude to grow and improve their products has earned the trust of their customers.

Strategic Human Resource planning

Strategic human resource planning is defined as all the strategies that fall under the bracket of an HR department. This includes the recruitment process, the future goals, and objectives of the company, and human resourcing planning which is the formation of the strategy.

Setting up goals and objectives for human resource management is an essential component of strategic human resource management. These goals and objectives make sure that an organization knows what it requires in its human resource management. The goals and vision provide the summary of an organization.

Environmental analysis is another major component of strategic human resource management. This component rotates around the evaluation of the internal factors as well as the external factors of the job market. This helps a company to develop strengths, weaknesses, opportunities, and threats with regard to its working place. This helps the company in improving the environment and eradicating threats (if any). It also helps in strengthening the workforce and work environment.

Strategic recruitment and selection

It is defined as the process of recruiting employees that can play their part in achieving the goals and objectives of a company. When it comes to the recruiting strategy, it is important to know when to hire, who to hire and what position to hire. It is also important to set criteria for recruiting. Once you have made a strategy for recruiting, hiring the right person becomes easy for the employers.

Another important requirement for hiring strategically is to involve the stakeholders and directors of the company when hiring someone for a big position. This is because the stakeholders can evaluate the candidate and see if he is the right candidate for that particular position.

Recruitment strategy makes sure that the company gets the best applications that can contribute to the growth of the company.

Marketing strategy

Toyota always comes up with a new way of marketing their products. Since the world has become digital now, so they also use digital platforms to market their products. They hire content creators who can market their products. After 2010, for some years Toyota struggled with marketing their products because they could not retain their potential customers. This was because their marketing strategy was poor and they could not compete properly back then. Now they have lifted themselves back again and are ready to compete with other car manufacturing giants. They have got the best marketing team who is good at making marketing strategies for Toyota.

Pricing strategy

A lot of car manufacturing companies have got their prices high on their products. This makes it hard for an average customer to buy the product even if the product is classy and good. Now when you talk about the products of Toyota motors, they have got fair prices on their products. This is why they are considered to be one of the best companies for cars for a middle-class individual. Along with the lower prices, their products are reliable and long-lasting. Most people consider buying Toyota cars because the prices are pocket-friendly and the products are top-notch.

Improved Design and quality

Toyota always looks forward to improving the quality and design of their products. They introduce new models of their cars every year and every year they come up with more fancy designs than the previous model. They also introduce new features in their models such as Traction control, electronic brake-force system, etc. These new features make Toyota unique and stand out in the competition. They also give new shapes to their cars to make them look attractive.

International expansion

Over the years Toyota has expanded its manufacturing process in the developed countries of the world. This step of theirs has helped them improve their quality more by getting feedback from the locals of every country. This way they have tried to satisfy the requirements of their customers all around the world. Expanding has also helped them in increasing their sales. Now they are planning to take it to India as well. This is because India is a developing country and it has a lot of potential related to cars. The labor in India is cheap so it would be easy for Toyota to set up a plant in India.

Conclusion

Toyota has been in the Automobile industry since 1937. It has won many awards because of its high-performing products. It has expanded its business exponentially in the past 20 years. In the late 2000s, Toyota struggles due to the high prices of their products and other reasons but now it has made a comeback. Toyota introduces new and reliable products for its customers every year. Toyota’s products are high in demand in Asian countries like India and Pakistan.

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