Toyota's Leader Akio Discusses Victory: Prioritizing Actions for the Benefit of Others in Corporate Strategy
In the face of the ongoing COVID-19 pandemic, Toyota and its suppliers are making significant efforts to respond to the changing landscape and invest in the future. This shared understanding and commitment to "survive together" is emphasised by Toyota's executives, including Operating Officer Akio, who has expressed a desire to make a better world and make real friends.
Akio has also questioned the implications of a world where no one ever wins, highlighting the importance of competition within the industry. He believes that those who survive should use their strengths for the benefit of people in society, a sentiment that is echoed throughout Toyota's operations.
The current economic environment is harsh, with Toyota's suppliers facing an extremely severe situation due to market declines and tough competition. However, Toyota is determined to maintain its supply chains, human resources, technologies, and foundations of production.
Dealers are making efforts to prioritise the safety and security of their customers, extending payment dates and offering preowned rental vehicles in some cases. Toyota is working closely with its dealers, recognising the importance of their support.
While it is difficult to grasp the situations of second-tier suppliers and beyond, Toyota realises the importance of their support. Akio has emphasised the importance of "survival" for the company, dealers, and the Japanese automotive industry.
In an effort to support its suppliers, Toyota is working to grasp the problems they are facing and is assisting them with financing, production support, and adjusted delivery dates. Akio has also addressed concerns about potential dissatisfaction among Toyota's suppliers and dealers due to the company's profit forecast of 500 billion yen for the current fiscal period.
In addition to supporting its suppliers, Toyota is also asking them for help in the production of medical face shields. This demonstrates Toyota's commitment to using its strength not just for its own benefit, but for the benefit of others.
Akio has expressed that the current Toyota is being reborn as a company that can apply its strength for the benefit of others. Survival is crucial for the automobile industry to have a positive impact on many people, and Akio believes that the industry and the country cannot be supported without winners.
In conclusion, Toyota's commitment to survival and thriving amidst challenging times is evident in its efforts to support its suppliers, dealers, and the Japanese automotive industry. Akio's vision of a company that uses its strength for the benefit of others is a promising sign for the future.
