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HR Practics In Toyota

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HR Practics In Toyota
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Profile of Toyota:
Toyota Motor Corporation is one of the selected organization for the purpose of completing this assignment. The reason behind selecting Toyota Motor Corporation is its strength of workforce and global human resources practices.
Toyota Motor Corporation is a multinational automaker and the headquarters is located in Japan. The capital value of Toyota is 397.05 billion yen and it has employed 317,716 employees. Main business activities of Toyota are that motor vehicle production and sales but it has diversified the business to housing, financial service, e-TOYOTA business, marine, and Biotechnology & forestation (www.toyota-global.com, accessed April 2012). The main competitor of Toyota is General Motors and Volkswagen. The total market share of Toyota is 11%, accessed April 2012). The Toyota Way (TTW) was introduced in 2001 with the philosophy of continues improvement and respect to people (www.toyotauk.com, accessed April 2012). This philosophy allowed Toyota to implement many human resources strategies to gain the competitive advantage through its human resources. This assignment is based on the human resources practices of Toyota Motor Corporation.
Being a multinational competition and a one of largest employers in the world, Toyota is practicing best and innovative human resources management. Toyoda expressed that "Because people make our automobiles, nothing gets started until we train and educate our people, accessed April 2012). This statement of Eiji Toyoda indicates the whole Human Resources policy of Toyota. According to these words Toyota believes that people drive their business. Also they believe values and perspective of people are essential for the development of human resources. Further, with the vast geographic expansion of Toyota’s business, human resources development has become a priority issue of the company. Thus, Toyota has had to develop both tangible and intangible structures in order to
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