Write a 3000 paper that discusses the strategy and change program for Toyota company in a changing environment. Being a company faces significantly changing environment, discuss how Toyota should...

TOYOTA- STRATEGY AND CHANGE PROGRAM
Table of Contents
Introduction    4
Background of the company Toyota    4
PESTLE Analysis of Toyota    5
SWOT Analysis of Toyota    7
Strategy and change program for Toyota company in a changing environment    9
Porter's 5 Forces Analysis for Toyota    10
Change Management following Kotter's 8 Steps    11
Conclusion    13
References    15
Introduction
In this dynamic global environment the technological advancements are rapidly bringing new challenges for the automobile sector. New designs, use of technology, automated cars, hybrid cars to name a few are constantly facing new changes and getting launched in the market. The fuel efficient cars which works on green technology are witnessing demand from users. Toyota who is committed to innovate and delivery quality with global mobility is not left untouched with these new requirements.
The strategic and change program will help it to be at competitive advantage with sustainable growth (Dutta, Goonaratne & Grandhi, 2021). The PESTEL analysis will help to evaluate external environment so that factors regulating can be understood and strategy can be designed accordingly. The SWOT analysis of Toyota will help to review the capabilities, availability of resources and the opportunities which can be tapped. The Porter’s Five Forces model will help to analyse the market conditions and contribute in decision making for the apt strategy selection.
Background of the company Toyota
Toyota Motor Corporation was formed on 28 August 1937 by Kiichiro Toyoda in Aichi, Japan. It is one of the largest manufacturer and seller of cars and trucks in the world. It has presence in 170 countries (Toyota, 2021). It has 36 vehicle-producing Toyota factories across the globe and a further 22 component-producing plants. It employes more than 366,283 people worldwide. The award winning design technology is adopted by Toyota. The themes are j-factor and vibrant clarity.
The philosophy of Toyota is to be creative, spread happiness and create mobility which have quality and availability for all individuals living on this planet. The sustainability initiatives taken by it are related to environment, society and governance based on SDGs (sustainable development goals) (Toyota, 2021).
They believe in innovation, building resilient and sustainable value chain and manufacturing quality products while respecting the planet and exceeding the expectations of the customer with a smile. It manufactures brands like Toyota brand, Hino, Lexus, Daihatsu and Ranz. Apart from automobile manufacturing it also provides financial services under Toyota Housing Corporation and Toyota Financial Services. As per 2019 Forbes list Toyota stand at 9th position as one of the valuable brands serving global market.
PESTLE Analysis of Toyota
The automobile sector is facing stiff competition with various brands competiting against each other with brand performance and high value products. The accelerating growth has pushed the momentum to higher side so that innovation and technology can be leveraged. As mentioned by Aoki & Wilhelm (2017) the influence of various external factors on industry’s profitability, growth and sustainability is tremendous. The growth trajectory and business model of Toyota is visibily impacted due to the changes in economic system due to pandemic and other political forces.
    Factors
    Impact
    Political
    · Changing political dynamics at global level
· Japan’s cold relations with China
· Brexit of UK created unceratin situation for Toyota in Europe
· The developing economies of Asia and the political tensions over neighbourhood boundaries
    Economic
    · Increased demands for automobile in emerging markets
· Availability of disposable income (Janićijević, 2017)
· Cascading effect of pandemic on employment
    Social
    · Maintaining social status by buying hi-tech cars
· Preferences for environmental friendly vehicles
    Technological
    · Consistent research and development taking place
· New age technologies like big data, robotics, IoT and artificial intelligence being experimnted and integrated in systems of vehicles
    Environment
    · Demand for fuel effcient cars has increased
· Hybrid cars are new addition
· Use of green energy is on rise
    Legal
    · New patents are applied every day
· Strict regulation are required for new technologies
Political factors in most of the countries are favorable as they have stability. The tension between countries is under control and does not portray major barrier to exapnd business or adopt competitive strategy. Looking after the present situation it is comparatively easier for Toyota to penetrate in the market. The economic conditions says that Yen is weaker and Dollar is stronger so it is easy to capture new markets which have potential and Toyota is not present there in any form. These factors are actually opportunities which can be availed with choices made with strategic intent. The social factors suggest widening wealth gap which says that more products can be created to suits customer requirements and ecofriendly solutons can be offered. The middle class strata can be new target segment to offer cars and generate revenue (Wendt, 2018).
The technological aspect is concerned about increase in cybercrime due to advanced technological usage in systems. According to Nykvist, Sprei & Nilsson (2019) mobile technology gives ease of access and reduces the burden of carrying heavy laptops. It gives another chance to Toyota to invest in mobile apps and encash the technology to ensure customer engagement and offer something unique. Due to climate change on a noticeable pace Toyota can increase the market share with eco-friendly options and portray itself as a concerned unit towards society. The improvements in business process efficiency will help in maintain sustainable performance. The declining oil reserves, increased pollution and global warming have given alarming messages to manufacturers to introduce options which are sustainable and in sync with nature. The legal factors concentrate towards improving intellectual property laws and dealing with consumer and environmental laws at large to offer safer and satisfactory products and experiences. It is believed by Nieuwenhuijsen et. al ( 2018) that indeed it will go a long way if Toyota is able to exceed customer expectations in style, design and performance which it is able to maintain since years.
SWOT Analysis of Toyota
    Strengths
    Weaknesss
    · Capability to innovate products through strong reasearch and development
· Brand value
· Diverse product portfolio
    · Dependence on mature markets
· Change management adapatability
· Strategic choices
    Opportunities
    Threats
    · New potential markets in developing economies
· New age technology in vehicles like fuel efficiency and hybrid
· Research in integration effectiveness of technologies
· Free trade agreements
    · Rise...