Corporate Social Responsibility of Toyota †MyAssignmenthelp.com

Question: Discuss about the Corporate Social Responsibility of Toyota. Answer: Introduction The report focuses on evaluating the CSR activities of Toyota and aims to understand its link with sustainability practices. It also aims to understand the manner in which the CSR activities conducted by Toyota contribute in mutually serving the interests of the firm and the different stakeholders. The report would also aim to reflect in how sustainability is given potential importance or is highlighted as an effective goal in the CSR activities of Toyota. About Toyota Toyota or Toyota Motor Corporation operates as a multinational automobile organisation based in Toyota at Aichi in Japan. Along with automobile, Toyota conducts its business along other segments like finance, biotechnology and also in the production of renewable energy resources among other functions. Toyota conducts its automobile business in terms of developing its network with around 190 global nations. The main markets for Toyotas automobile business are based along the Asian, European, and Japanese and also along the North American economy. Different types of passenger vehicles, minivans and also other types of commercial vehicles like trucks with also automobile parts and accessories are designed and manufactured by the company. In terms of financial services, Toyota aims at providing financial support to both dealers and customers interested in purchasing the vehicles produced by the firm. Toyota in recent times has also ventured into other segments like housing and also into the telecommunication sector. It has also launched a web portal to help users in gaining needed automobile related information from Gazoo.com(Reuters , 2017). CSR Practices of Toyota Toyota since its very foundation has been continually striving for meeting the sustainable needs of its stakeholders and the society at large. It focuses on the development of both innovative and quality vehicles that meets the objectives of both environmental sustainability and customer satisfaction. Toyota lends an open ear in understanding the needs, expectations and aspirations of its customers and also of members of other local communities such that the products manufactured effectively meet the needs of the individual customers, greater society and also the natural environment. The Corporate Social Responsibility (CSR) policy of the organisation is observed to act as an interpretation of the Guiding Principles of the firm aimed at sustaining effective relationship with its stakeholders(McIntosh Tanimoto, 2014). Toyota desires to operate as an organisation that is to be liked, admired and thereby trusted by the social members. It also aims to ensure that the internal members of the organisation acknowledge and act based on the CSR guidelines and policy. The CSR Policy of the firm is shared by Toyotasmanagement to its different subsidiaries such that the latter puts the policies into service and acts on such behalf. Toyota also expects the business partners of the firm to effectively embrace the spirit of the CSR Policy such that they tend to act on such basis. Toyota also participated in the formulation and development of the different standards outlined in the Charter of Corporate Behaviour of the Japanese Business Foundation. The foundation serves as an effective alliance of the different large Japanese Corporations(Toyota, 2016). The Preamble of the CSR Policy of Toyota focuses on enhancing the contribution for promoting sustainable development. Toyota Motor Corporation with all its different subsidiaries and business partners undertake a pledge for generating needed harmony and also in promoting sustainable development of both the social members and also of Mother earth in terms of the different activities conducted along diverse regions and countries based on the guiding principles of the firm. The CSR Policy of Toyota also mandates that the automobile company rightly fulfils the legislative and statutory requirements of diverse regional, local and international laws. It also aims in conducting the business operations with needed integrity and honesty(Basu, 2017). Further, Toyota also focuses on both building and sustaining effective relationship with its diverse stakeholder groups through the development of a fair and transparent communication system. The automobile company likely expects its other busines s partners to support the fairness and transparency of communications practiced at Toyota and also acts on such note(Toyota Global , 2012). The Seven Guiding Principles practiced at Toyota and also based on which the CSR Policy of the organisation is produced is reflected as under. An effective overview of the CSR activities conducted by Toyota is illustrated as follows. The CSR Committee was established by Toyota during October 2007 for helping in the effective coordination and promotion of CSR activities round the globe. Based on acting over the CSR Committee, Toyota had rendered different types of functions like ensuring of legal compliances, conducting of special contribution and also helped in promoting events and initiatives concerning environmental issues(Watkins, 2013). From 2015, increased focus is continually being undertaken by Toyotasmanagement in integrating the CSR approaches with themanagement functions of the firm and also for increasing of corporate value of the firm. Of late, the functions undertaken by the CSR Committee of the firm are transferred along two specific heads like the Corporate Planning and the Corporate Governance Meeting. The Corporate Planning Meeting is convened and conducted for discussing issues associated to growth and also for formulation of different business strategies while simultaneously focusing on the nee ds of the society(Toyota Global, 2016). The Governance Structure supervising the CSR activities conducted by Toyota is reflected as follows. CSR Practices for meeting Stakeholder Objectives Toyota focuses on effectively exceeding the expectations and needs of its customers and other stakeholder groups. It focuses on engaging the talent and also the passion of its diverse workforce for serving the needs of the society as outlined in the Global Vision of the organisation. The management of the automobile organisation focuses on listening to the needs and expectations of its diverse stakeholder groups and thereby responding in a proactive fashion. The following illustration effectively reflects the fashion in which Toyota meets different challenges pertaining to the different stakeholder groups. The management of the automobile company with the expansion of the company on a global scale was required to render needed care for improving the quality of life of the different social communities along regions where Toyota had set up its business. However, in cases where the interests between the Japanese and other global communities faced some conflicts the interest of the Japanese members were given greater priority(Toyota , 2016). Sustainability Practices at Toyota The sustainability activities of Toyota are diverse in nature. Toyota while operating along its main business line focuses on the development of environment friendly automobiles like hybrid cars and vehicles. Further, the company also contributes in the generation of different mechanisms for generating both active and passive safety to the customers. Similarly, Toyota also operates along other business or activity segments like biotechnology, renewable energy and also in areas like afforestation. Again, different initiatives are undertaken in the domain of environmental needs for contributing directly to the society. Toyota also promotes education to commuters regarding traffic and environmental safety such that the same contributes in the development of a healthier and environmentally aware happier society. During 2012, the sale of hybrid cars manufactured by Toyota is observed to reach the one millionth marks. Further, hybrid models were also developed for rear wheel vehicles that effectively meet the needs of both environmental performances while also contributes in generating greater output. Sustainable growth is focused on being rendered by Toyota in terms of developing effective vehicles, enriching the lives of different communities and social members finally through meeting of the Toyota Values(Toyota, 2016). The sustainable growth mechanism for Toyota is illustrated as follows. Further, in terms of sustainability Toyota focuses on addressing six key challenges that are outlined as under. -Toyota aims at reducing the level of Carbon Dioxide emissions by around 90 percent towards the end of 2050. -It aims at reducing the level of greenhouse gas emissions along its production, logistics, disposal of waste and finally along its recycled segment -Toyota focuses on reducing the level of carbon dioxide emissions through the introduction and incorporation of effective technologies and also through the avid exploration and adapting of renewable energy sources. -The automobile company focuses on reducing the wastage of water resources while also contributes in purifying the used water before returning the same to earth. -Toyota also focuses on generating recycled products and aims in the development of a recycling-based social communities. -Finally, Toyota aims at developing an effective harmony between people resources, the automobile firm and the environment at large(Toyota, 2017). Conclusions The report reflects that sustainability is considered as a primary objective in the CSR activities of Toyota. It also reflects the manner in which the CSR activities conducted by Toyota rightly contribute in meeting the needs of diverse stakeholders while also highlighting the issue of conflicts regarding stakeholder interests. Information is gained through consulting different sustainability and CSR reports of Toyota such that different diagrams are incorporated for elucidation purposes References Basu, S. (2017). Corporate Purpose: Why It Matters More Than Strategy. New York : Taylor and Francis. McIntosh, M., Tanimoto, K. (2014). Japanese Approaches to CSR: A Special Theme Issue of The Journal of Corporate Citizenship (Issue 56). United Kingdom : Greenleaf Publishing . Reuters . (2017). Toyota Motor Corp (TM). Retrieved September 14, 2017, from https://www.reuters.com/finance/stocks/companyProfile/TM Toyota . (2016). Stakeholder Engagement . Retrieved September 14, 2017, from https://www.toyota-global.com/sustainability/society/stakeholder/ Toyota. (2016). CSR Basic Philosophy. Retrieved September 14, 2017, from https://www.toyota-global.com/sustainability/csr/csr/ Toyota. (2017). Environment . Retrieved September 14, 2017, from https://www.toyota-global.com/sustainability/environment/ Toyota Global . (2012). Toyota's CSR Initiatives . Retrieved September 14, 2017, from https://www.toyota-global.com/sustainability/report/archive/sr13/pdf/sr13_p06_p07.pdf Toyota Global. (2016). Corporate Principles . Retrieved September 14, 2017, from https://www.toyota-global.com/sustainability/csr/csr/sdb16_01_en.pdf Toyota. (2016). Sustainability Data Book 2016. Retrieved September 14, 2017, from https://www.toyota-global.com/sustainability/csr/csr/sdb16_01_en.pdf Watkins, D. B. (2013). Where's My Dog? the Search for Honest Leadership. United States : David B. Watkins