Decision Making; the case study of Toyota Motor Company

Introduction With competition in the business world today, the quality of decision made by managers to a large extent determines the success their business attains. The major difference between effective and unreliable managers is on the quality and timelessness of their decision. Making a decision whether it’s a minor or major decision is a process that should be understood by management. There are different methods/approach of making decision; each situation and organization use a different method to get a solution to its needs.Advertising We will write a custom essay sample on Decision Making; the case study of Toyota Motor Company specifically for you for only $16.05 $11/page Learn More Toyota is an international leading automotive company which has growth through thick and thin to assume the world largest automotive producer. It assumed this position in 2008 after it over took General motors. This tremendous growth is attributed to strategic decisions that the company management has made. In specific the company uses scientific method of decision making (Provis, 2010). This paper analysis international market entry decisions made by the company and the process Toyota management used to come with the choice of country to invest in. Brief history of Toyota Toyota was founded in the year 1937, by Kiichiro Toyoda. As per reports released in December 2009, the company had total 71,116 employees distributed in all its branches. Despite the world financial crisis, the company was able to record an increase in sales and made a profit of US$4.2 billion. The company has an effective supply chain management and embraces technology in all its processes. For example it has started making electric motor vehicles and bio-diesel motor vehicles (Toyota Motor Company Official website, 2010). The problem of analysis International trade has been facilitated by globalization and companies are targeting markets away from their country of inc orporation. However the decision to venture into one country and not in another determines the success of such a company in the new market. The following is the process that Toyota Company uses to come up with the choice of country to invest in; Problem analysis The initial stage in making an international investment decision is to analyze the investment problem at hand. In this case, the company would like to diversify in other countries. It should evaluate how the current market is operating and come up with an effective foreign market entry strategy. The following are the things that Toyota Company considers before they choose a country A and not country B,Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More What is the market intended to meet? Does the company have capacity to supply quality goods to the country? What is the brand name that the company is having at the moment? Will the bra nd name favor the company in the foreign country? Why does the company aim at diversifying its processes? The initial stage is more on understanding the company’s strengths and weaknesses for better decision making (Ştefan, 2009). Collecting data In this stage the company management devices a team that is supposed to take data regarding the countries and products that it should invest in. This is to ensure that it comes up with alternative countries which have potential. The team may use data available in the company’s business intelligence systems or can borrow data from other sources like external data companies. The internet is crucial for this as it offers an overview of the market situation of the countries under consideration. The teams come up with a number of countries that should be considered and an in depth analysis of the country follows. They may visit these countries and collect relevant data. The major thing that they focus in is to look at the speci al attribute that certain countries have that may be of benefit to the company. It may range from growing economy, high population growth rate with increased living conditions to the strong of Toyota’s brand name in the country. Choosing the best alternative After data has been collected, the next stage is to choose the best alternative for the venture. This takes a brain storming of the countries and weighing options. The kinds of leadership models and market entry strategies that will be required in the country are interpolated to ensure that the project will not be a failure. Cost benefit analysis, sales forecasts, operation costs forecasts are done on various countries (Higgs, Smith, Mechling, 2010). Targets country analysis After the company has realized that it has some potential and can manage an international market, the next step is to make a choice on the country to venture into. This takes the form of an external audit of the market. The choice is made from a list of probable countries then zeroing in one country. The following are the factors that it looks into; What is the current market share of the company’s products in the country of choice Does the company have a strong brand name in the country of choice? At this level, it is important to analyze the changes in sales with the country, the products that the country seems to buy from Toyota Considering the legal situation in the country; this is where the managers consider taxation policies, foreign companies legal standing on area like property acquisition The resources available in the country; these resources may be in terms of labor availability, material availability, transport and communication networks. The economic growth rate of the country is considered. Competition that prevails in the country of venture is an important thing that the company considers. In most cases, it sends a spy, who undertakes an analysis of the market situation and the position that the company assumes in that country. The products that the people tend to use from the company are also captured. For example in most African Nations, Toyota Pickup and Lories are more common that they are in United States markets. Understanding such parameters assists the company choose its market segment more easily. This is taking a P.E.S.T.L.E. analysis of the country. This stage is crucial since it ensure that all data that might affect the company in the foreign market are undertaken. Those factors that offer opportunities are known and threats recognized for mitigation purposes (Anon, 2008). Conclusion Toyota is a world leading motor vehicle manufacturing company. It assumed this place in 2008 after it surpassed General Motor in terms of sales and production. The major driving force that has leaded it to the good performance is the quality of management decision. International markets accounts for a great potion of the company sales.Advertising We will write a custom essay sample o n Decision Making; the case study of Toyota Motor Company specifically for you for only $16.05 $11/page Learn More To venture in these markets, the company analyses its internal strengths and weaknesses and takes a deep analysis of the opportunities and threats offered by the foreign country it intends to invest in. This is a scientific decision making mechanism. References Anon.(2008). Decision Making. (p. 1). Great Neck Publishing. Retrieved from Research Starters – Business database. Higgs, R., Smith, M., Mechling, G. (2010). making better business decisions. Supervision, 71(2), 12. Retrieved from MasterFILE Premier database. Provis, C. (2010). Virtuous Decision Making for Business Ethics. Journal of Business Ethics, 913-16. doi:10.1007/s10551-010-0564-4. Ştefan, M. (2009). IMPROVING THE QUALITY OF THE DECISION MAKING BY USING BUSINESS INTELLIGENCE SOLUTIONS. Annals of the University of Oradea, Economic Science Series, 18(4), 996-1000. Retrieve d from Business Source Complete database. Toyota Motor Company Official website.(2010). Retrieved from https://www.toyota.com/ This essay on Decision Making; the case study of Toyota Motor Company was written and submitted by user Jamari Gordon to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Some Effects of Lead Contamination on Liver and Gallbladder Bile

Some Effects of Lead Contamination on Liver and Gallbladder Bile Article Summary Lead poisoning is one of the common health problems affecting mankind today (Bhagwat, Patil, Sontakkem, 2008). The article â€Å"Some Effects of Lead Contamination on Liver and Gallbladder Bile† explores the toxic effects of lead on the human liver.Advertising We will write a custom article sample on â€Å"Some Effects of Lead Contamination on Liver and Gallbladder Bile† specifically for you for only $16.05 $11/page Learn More According to the article, lead â€Å"results in weight loss, poor liver functioning, and abdominal pain† (Bhagwat et al., 2008, p. 3). The authors wanted to examine how lead affects the hepatobiliary system. This system is mainly composed of the gallbladder and the liver. Medicines containing lead affect the normal functioning of the liver. The toxin can also result in â€Å"peri-portal inflammation† (Sipos et al., 2003, p. 140). The â€Å"toxic compound also causes proliferation-effect on smooth muscle cells† (Sipos et al., 2003, p. 141). Increased levels of lead will eventually result in liver damage. This situation occurs because there are free radicals associated with the toxin. Lead also â€Å"disturbs most of the biochemical processes associated with the hepatobiliary system† (Sipos et al., 2003, 141). This compound can eventually produce gallstones in the liver (Sipos et al., 2003). Review of the Article The article supports the toxicological effects of lead. According to many studies, lead is a toxic natural compound. The compound can be found in different food materials and water. The absence of a feedback mechanism explains why this toxin is less available. However, continued intake of certain compounds such as â€Å"amino acids, vitamin D, ascorbic acid, fats, and sodium citrate increases chances of lead poisoning† (Sipos et al., 2003, p. 140). The article goes further to highlight the effects of lead on the human liver. The compound als o affects the intestinal system. It causes abdominal discomfort. The â€Å"toxic compound also stimulates intercellular signaling between hepatocytes and Kupffer cells† (Sipos et al., 2003, p. 141).Advertising Looking for article on communications media? Let's see if we can help you! Get your first paper with 15% OFF Learn More Lead will eventually result in liver damage. Lead also affects different biliary processes in the body. Many people have developed numerous health complications due to prolonged exposure to this compound. That being the case, people should embrace the best practices in order to address the problems associated with lead poisoning. This practice will support the health needs of many people in the society. Analysis and Discussion The authors have used a proper approach to complete their study. They have highlighted the potential sources of lead. They have also analyzed the pathways associated with lead poisoning. They have also ex amined how this compound affects different systems in the body. The compound is also deposited in the liver. It affects the normal functioning of the organ. Prolonged exposure to the toxin will also affect many body functions (Bhagwat et al., 2008). This discussion supports most of the concepts gained in class. The authors have also explained how continued exposure to the compound can affect different biliary processes (Sipos et al., 2003). The body is also a complex system. Every organ or system supports a wide range of biological processes. Failure of different organs will â€Å"affect the normal functioning of the other systems† (Bhagwat et al., 2008, p. 5). This knowledge encourages people to focus on the best health practices. Patients should get the best medical support after ingesting large quantities of lead. New studies are also required in order to understand how this toxic compound affects other body systems. This knowledge will support the health needs of many pop ulations.Advertising We will write a custom article sample on â€Å"Some Effects of Lead Contamination on Liver and Gallbladder Bile† specifically for you for only $16.05 $11/page Learn More Reference List Bhagwat, V., Patil, A., Sontakkem, A. (2008). Occupational Lead Exposure and Liver Functions in Battery Manufacture Workers around Kolhapur (Maharashtra). Al Ameen Journal of Medical Science, 1(1), 2-9. Kacew, S., Lee, B. (2013). Lu’s Basic Toxicology: Fundamentals, Target Organs, and Risk Assessment. New York, NY: Information Healthcare. Sipos, P., Szentmihalyi, K., Feher, E., Abaza, M., Szilagyi, M.,†¦Blazovics, A. (2003). Acta Biologica Szegediensis, 47(1), 139-142.

An analisys of Management Accounting Essay Example | Topics and Well Written Essays - 3250 words

An analisys of Management Accounting - Essay Example This research aims to evaluate and present the models and concepts affecting the pricing decisions taken by organizations, critically reflecting upon their usefulness. The price variable is the one of the significant ingredients in marketing mix of the organization. Price itself can effectively communicate with the consumers regarding the product or service. So, â€Å"when the pricing decision is made, the organization must consider several factors. These factors† such factor includes, Regulation of government, Perceptions in the market, supply, desired pricing position of the organization, demand and finally Competitors and Competition pricing policies. The final price of any product or service is influenced by various factors; these can be summarized into two that are internal and external factors. Internal Factors – Internal factors are those which are controllable by the organization and also, if required, it can be altered. Although, the company may have control ov er these internal factors creating a quick alteration is not always practical or realistic. For example, pricing of the product may depend closely on the efficiency of a manufacturing capability (e.g., how much can be manufactured in a certain time). External Factors - There are a numeral of influencing factors which are not restricted to the organization but will influence pricing decisions. The marketer needs to identify these factors to carry out various researches to observe what is happening in every marketplace that the organization serves, since result of these factors can change by marketplace. The Pricing Decision: As mentioned above, the pricing decision of the organization is impacted by various dissimilar factors. So, pricing decision at initial stage can be very time- consuming though these are exemptions. Normally pricing decision of the organization is complicated, hence it must involve the various cautions consideration of all these factors listed above to make a good decision. â€Å"The pricing strategy can be viewed as a function of competitive product quality and stage of the product life cycle† (Rashid et al. 1988, p. 194). Various models which influenced the pricing decision of the organizations are discussed below. Cost and Demand Oriented Pricing Models: In this model, organization uses demand or cost as a foundation for setting the price of the service or product. Traditionally, this type of orientation or model is applied to the theory of micro economics by forming demand curve on the basis of summation or outline of the person’s utility funct ions for consumers in the market. Thus, first thing is that to assess and identity the consumers perception regarding the product or services. Perception of the