The Objectives In The Process Of Planning Strategies Marketing Essay
Toyota Motor Corporation, commonly known simply as Toyota, is global corporation headquartered in Japan which is the world’s largest automaker by sales volume. It became the largest automobile manufacturer in the world for the first time in 2008. But now Toyota is the second largest car manufacturer in the world Toyota primarily conducts business in the automotive industry. The company is an industry leader in manufacturing and production.
According to Wheelen L.T. and Hunger J.D., (2004) objectives are the end results of planned activity. They state what is to be accomplished by when and should be quantified if ...view middle of the document...
Toyota should have the objective because setting objectives are important in order to focuses the company on specific aims over a period of time and can motivate staff to meet the objectives set. This is a technique that is used to improve the productivity of management. It means that Toyota will spend almost all of its time ensuring that the organization is moving toward its goals.
1.2 Important of Objectives
Toyota must set objective in the process of planning strategies in order to increase the total cash balance for their financial stability. It is important to understand what company should set goals that they want to achieve. So, the business performance can be more effective and effectiveness. Some of the areas in which Toyota might establish its goals and objectives are profitability, efficiency, surviving to avoiding bankruptcy and so on. A strategy of Toyota forms a comprehensive master plan stating how the corporation will achieve its objectives.
In order to become a successful company, an organization suppose to having their own mission and objective to be achieve as a goal. From the mission and objective an organization will be able to aim their target and try harder working on it.
In organization, stakeholder is very important because they can affect the decision making of policy or program. According to BUKU BLABLABLA. In the other hand, stakeholder can be defining as individual and or organizations, both inside or outside in organization with a vested interest in the policy being promoted by a company. Stakeholder can be divided into two groups which is internal stakeholders and external stakeholders. Internal stakeholders include management, employees, administrators, shareholders, union and etc. While, the external stakeholders such as suppliers, special and political action group, competitor, trade and industry associations, media, communities and government organizations.
Stakeholders are those who have...