I think that’s a good idea Anastasia, to increase "goodwill" and improve their image and reputation GM should focus more on their corporate social responsibility. We have seen big companies like BP and Shell, who have experienced major crisis’s, change their images by stressing their environmental support though various initiatives. However GM need to be careful about the affects CSR initiatives can have on shareholders attitudes. They don’t want to have the public questioning the motives behind…
Istanbul, Turkey, July 3 – 6, 2012 Car Recalls: A Problem Unique to Toyota or For All Car Makers? Kamrul Ahsan School of Management and Information Systems, Faculty of Business and Law Victoria University Australia Abstract Often automobile recalls are drawing media and public attention. Influenced by Toyota’s recent automobile recalls 2009-2010 this research conducts an empirical study on historical car recalls. The research uses secondary data from recall websites maintained by public and private…
application, the stakeholder framework will now be applied to the GM Ignition switch case. The stakeholders of GM include the shareholders, employees, customers, government agencies, first-responders, hospitals, and other drivers on the road. The shareholders of GM partially own the company and are invested in the economic success of each business decisions. Also dependent on the company’s financial success is the employees of GM who are provided with a job as long as the company experiences stability…
TOYOTA RECALLS AND PROBLEMS Toyota and the Economic Crisis in 2008 2010 Camry RECALLED Toyota had aimed to sell 10 million vehicles a year by 2010 but suffered a severe set back when it t was stung hard by the global financial crisis in 2008 and 2009. Toyota sold 7.56 million units in fiscal 2008-2009—enough to outperform GM and make Toyota world’s largest automaker but 1.34 million less than the previous year. Toyota had originally forecast sales of 9.85 million in 2008 and 10.4 million in 2009…
Looking at Both Sides of the Genetically Modified Foods Issue Genetically modified (GM) foods hold many promises for improving life. With their amazing breakthroughs, biotechnology firms have manipulated the genetic structure of many high-demand crops, bestowing them with amazing properties. Natural herbicide and pesticide-producing genes have been inserted into corn to kill off weeds and pests without directly poisoning the environment. Production costs and maintenance time have been…
Economic Crisis Impact on Auto Industry’s Costs and Sales B.W. Strayer University Abstract The 2008 economic crisis negatively impacted the U.S. domestic automobile industry. GM, Chrysler and Ford reported annual operating costs and sales revenues that mimicked the movement of the overall economy from 2005-2010. Until 2009, all three companies displayed a downward trend in operating costs and sales revenues. These two aspects of automobile manufacturers are directly…
other countries may not meet regulatory standards, therefore puts their products at the risk of being recalled. This means that supply chain managers are responsible for ensuring suppliers and their products maintain safety and quality standards. Recalls or safety issues can damage a company’s reputation. As I was an article online about Toyota, I realized that Toyota was in a similar situation as they recalled 7.5 million cars around the world so they can fix faulty power window switches that can…
gas pedals, faulty floor mats and braking software glitches. The company is desperately trying to salvage its reputation and regain market share and sales. Some considered this to be the biggest crisis in the auto industry since the bankruptcies of GM and Chrysler while others thought that Toyota would not be able to rebound from this problem in a short period of time. This paper will explore the decisions that Toyota faced with its problem of regaining its reputation, market share and sales.…
Generic Benchmarking Worksheet Task A: Problem/Opportunity Statement Instructions for Task A: In the Response row, write out the problem/opportunity statements for the scenario for each of the team members. Response to Task A: Global Communications will meet our customer and shareholders' needs by creating by creating win-win partnerships that stimulates product expansion. Global Communications will meet our customer needs by product globalization and customer service superiority…
UMS University of Modern Sciences Project: Toyota’s Business Environment and its Recall Policy Toyota Motor Corporation is Japan’s number one carmaker. Toyota has international presence in over 170 countries worldwide. It manufactures cars, pickups, minivans, and SUVs include models such as Camry, Corolla, 4Runner, Land Cruiser, Sienna, the luxury Lexus line, and full-sized pickup trucks. It has huge financial strength, a sales turnover of 131,511 million for 1997 and sales growth…