ESTEL analysis Toyota
PESTEL analysis Toyota has been making and selling automobiles for many years giving them the ability to define their political, economic, social, technical, environment, and legislative (PESTEL) areas of business. Their ability to categorize the company’s strengths, weaknesses, opportunities, and threats (SWOT) has made them a powerhouse in the automotive industry. Political . Toyota is a transnational company that has made them deal with a variety of political issues in foreign countries. Because each country is different TMC must adhere to policies and legal structures of each independently. For example there is no foreign direct investment (FDI) in India unless there is an alliance or partnership with the local government. TMC is ranked second in terms of market share after General Motors (GM) in India because of the political pressure. GM is locally based and the government maintains a large piece of its
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shares implying that if GM falls into hardship they will receive backup from the government. Economic . The automobile industry plays a significant role in the economics of any county. The economic impact is based on a country’s ability to supply the various components necessary to make a car like iron, steel, glass, aluminum, rubber, copper, and many more items. Additional economic factors are income levels, interest rates, price, exchange rates, tariffs, and the price of gasoline. Employment is also a huge factor in the economics of an automotive industry because those employees pay taxes and those taxes have the potential of increasing a nation GDP. Social . Most people do not understand that there is also a social factor in the automobile industry. For example owning a luxury car in India and Pakistan can boost a person’s status in these developing countries. For this reason many companies integrate these factors into their strategy and development phases of the business. Specific target markets like baby boomers, generations X and Y maintain a large influence on an industry’s products. Technical . The automobile industry is considered the leader in technology because of its wide use in the manufacturing portion of the industry. Toyota uses top rated technology and implements them in all their facilities to reduce production costs while increasing quality and efficiency (R. Hesterberg, personal communication, June 26, 2013). The introduction,……………
ESTEL analysis Toyota
PESTEL analysis Toyota
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