Japanese business terms

1. Explain all TPS terminology in the house of Toyota production system (HTPS), and summarize the HTPS in your words to me. A. TPS – Toyota Production system is the processing unit i.e. brain of the Toyota. Many companies have learned and tried to mimic the system of Toyota. The rules and methods or tools used in the system have specific terminology. The TPS terminology in the house of Toyota Production System (HTPS) are: i. Just in Time ii. Jidoka iii. Heijunka iv. Kaizen. i. Just in Time: JIT – Just in Time’s objective is to reduce the in-process inventory by manufacturing or producing the production only when it is needed i.e. the activity of production occurs only when the order comes from the customer. The JIT works on the basis of ‘Pull System’. The parts or items are produced only when the customer needs it. Every process in Toyota is performed very precisely and scientifically. The demand is calculated by the Takt time. Takt time is calculated by total time (minutes) taken for producing the total units in a day. Toyota uses a simple card system for communicating the process, the Kanban. If there is change in demand, there will be also change in takt time. Toyota allocates more resources when there is rise in demand. ii. Jidoka: Toyota describes Jidoka as ‘automation’ or ‘automation with human touch’. When a problem arises, the problem is notified, the designated supervisor or training supervisor or any team member will intervene and rectify the problem and the…

facilities require in the organization are also planned. The plan also encourages the full participation of all the members of the organization as they have a guide and a goal to which they are looking forward to an organization with a set plan and applies it will attract possible external image. Some of the strategic components to be included in the plan include: • Mission- The initial step towards coming up with concrete mission statement would be to ask questions pertaining to the quality of…

In the mid 1990s Enterprise growth accelerated and revenues were over one billion for the first time in company history. Additionally, the leasing division took on the name Enterprise Fleet Service, focusing on serving business with midsize fleets. Enterprise went down in history in 1996 as the number one car rental company in the United States. By 1999, revenues were $4.73 billion and growth was towards an international path. The 1990s was a decade where Enterprise…

The balanced scorecard is build on the four performance perspectives. When implemented properly, the BSC perspectives contains four subparts. These are the basic components of BSC. Unless otherwise stated, these components are defined from Kaplan and Norton(1992). Perspectives Kaplan and Norton suggested four perspectives as a stander for the BSC. These perspectives are customer, financial, internal business process and learning and growth. All related factors affecting strategy are recorded in…

assigning key performance indicators to each strategic objective (Walston, 2014). Currently, Lake County Medical Practice (LCMP) have to tackle the challenges of reducing Medicare reimbursements and increasing the volume of new Medicare beneficiaries. These factors should be addressed during the strategic planning process and involve all levels of management and stakeholders. The balanced scoreboard is one tool that can used to monitor strategies. The balanced scorecard is an evaluation tool…

Manager® 85% (USD) o American Funds Growth and Inc. Port C (USD) o Fidelity Freedom® 2015 (USD) o Fidelity Asset Manager® 20% (USD) • Smith & Wesson Holding Corp (USD) $55,558, Industrials Source of Stock • Smith & Wesson Holding Corp (USD) • USA Mutual Vice Investor (USD) • Apple Inc. (USD) $18,321, Technology Source of Stock o Fidelity® Magellan® (USD) o Fidelity® Blue Chip Growth (USD) o Fidelity Asset Manager® 85% (USD) o American Funds Growth and Inc. Port C (USD) o Fidelity…

As discussed previously there has been various methods developed in the past few decades for performance measurements; however the most acceptable and regarded approach is the "Balanced Scorecard Approach". Balanced Scorecard addresses one major issue that financial measurement tools are insufficient to guide companies for success. It provides a broader sense of indications for the total value creation in organizations through tangible and intangible assets. Balanced Scorecard approach help…

wants to be known for low cost and high quality even though it will be providing much more than those two things alone. Vision statement To provide exceptional quality grooming for an affordable cost in a comfortable environment; ensuring our customers leave with happy heads and happy wallets. Management Structure This will be my second career after I retire from the military. I will already have a steady income and anything made from this company will be supplemental to my retirement income. …

HSBC’s strategic objectives of value creation and long-term sustainability underpin their strategic priorities which are at the core of their strategic plan. The firm has three main strategic priorities which entail growing the business and dividends, increasing investment in Global emerging markets, and reducing costs while streamlining process and procedures. This strategic plan outlines the procedures HSBC will follow in pursuit of achieving these priorities. Value Creation: HSBC’s objective…

As affirmed by Smither, Houston & McIntire (2016), every organization has a mission and a vision statement, which plays three critical roles. That is, they communicate the purpose of the firm to the stakeholders, outline and inform strategies development, and develop the measurable objectives and goals. In most cases, the future of a company is outlined in the vision statement; therefore, if an individual wants to know the going concern of a particular business, analyzing its vision can be a…