The corporation needs to undertake the process of taking its managers through refresher courses and exchange programmes. This is a very effective way of ensuring that the corporate strategists are well acquainted with the latest changes in technology and therefore improve on the necessary areas of production. For any automobile manufacturer to stay afloat in this highly dynamic industry, they must put in place a continuous process of evaluation. This is exactly what Toyota should do.
They need to initiate a process of evaluating the performance of their new brands, some of which are in the category of recalled cars due to manufacturing defects. The strategy department must ensure accurate and timely information reaches the operations manufacturing plant in the right way and at the right time. Such a move will serve to ensure that the corporation takes to the market vehicles that suit their needs and which function to the optimum standards in order to retain customer confidence and beat their competitors as well as to increase profitability (Walters, 1999, pp. 58-84).
Operations management should be monitored more closely so that the organization can make more progress in the production department. They must make decisions that reflect the immediate needs of the
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The management of risks as well as losses has been ignored by the strategic management of the corporation. Structures must be put in place so as to avoid taking the of unnecessary risks and losses the corporation has been experiencing of late as a result of the numerous recalls (Mentzer, Myers & Stank, 2007, pp. 78-92). The managers should be put on an individualised evaluation process so that they can be more effective in execute their duties. REFERENCES
Coopers, Lybrand & Strategic Risk Management, (2000). Strategic risk management. Universities Press. Jakotiya, (2003). Strategic Financial Risk Management. Vicas Publication House pvt Ltd. Kazmi, A. (2008). Strategic Management and Business Strategy. Tata Mgraw Hill. Matthew, M, J. (2008). Business Policy And Strategic Management. Raj books and Subscription Agency. Mentzer, J. T, Myers, M. B & Stank, T. P, (2007). Handbook of Global Supply Chain Management. Sage Publications.