performance management practices of Toyota

PERFORMANCE MANAGEMENT PRACTICES 

                  

The Toyota Motor corporation is leading global enterprise, generating the eleventh largest revenues in the globe, and representing the third largest automobile manufacturer in the world. Toyota is nowadays a leading retailer throughout the world, especially within the united states, and this leading position has been attained due to the company's increases ability to understand the needs of the market and adapt to them.
                   

Introduction

Every company aims to work towards rendering quality and satisfactory customer services. This is done by handling the customer requirements and providing dependable services in a cost effective manner. The services rendered by the suppliers are evaluated, so as to improve the quality of services offered by the companies. This report has been prepared on Toyota, one of the leading companies in the UK.

 For successfully approaching and selling goods and services to the clients, the management work towards improving the performance.  For this, the objectives are highlighted and the tasks involved with the same are analysed. In this method, the quality, speed, flexibility, dependability, employees, and cost factors are evaluated. Such factors are considered to be essential for the successful business operational activities.

 Toyota is one of the leading companies that have been known for rendering quality and reliable services to the clients. The quality of the products are analysed on a continuous basis. This has been done to analyse the areas that needs to be worked upon, without increasing the costs for the services (Ackman, 2002)

Importance Of Performance Objectives For The Company

Strategies for operational and performance management helps the company to integrate different production and operation activities. This has been done by analysing the plan for business conduct and analysing the objectives. Operations functions are important as this would help the company to improve the quality for services, and reduce on the costs related to operations.

 Toyota is a leading company and has been rendering reliable and cost effective services.  The company has introduced effective strategies for improving the quality of the production activities. New and improved production strategies are introduced so as to improve the quality for the production activities (Armstrong, 2006).

Performance Management

The importance of the performance management is quite similar to the objectives that have been set forth by the company. It offers intangible goals that are considered to be essential for the business. Through this process, the management of the company determine the responsibilities of different departments and assign the tasks to the staffs. Different departments that functions in Toyota are –

1. Production (Locke & Latham, 2002).
2. Research and development
3. Sales
4. Manufacturing
5. Marketing
6. Human resource management
7. Speed (Barsky, 2007)

The performance of the management has to be correlated to the objectives that have been set forth by the company. Through an evaluation of the performance management system, the company would be able to analyse the challenges that are associated with the production and sales process.

 For instance, the company aims to sell fuel efficient cars to the clients. In order to do so, the management needs to plan and introduce new methods for improving the sales.

 Objectives of the performance depend upon the speed for conducting the operational activities. Speed for the production process can be improved by introducing better plans and technology that would enable the company to cater the needs of the clients in the best possible manner (Bartov, Givoly & Hayn, 2002).

Time gap between the order placement and making the product available to the clients has to be analysed. Introducing changes in the technological aspects can be expensive, and thus the management needs to plan and introduce better methods for improving the production activities, without increasing costs.

 The actual time required for carrying put the manufacturing process, and making the product available for the customers has to be analysed. Longer time frame, could impact the sales for the company.

 Thus, Toyota has introduced effective methods that would record the information and provide the details to the clients. The steps involved in the process have been evaluated, as this helps the management to make the corrective steps (Bazerman, & Chugh, 2006).

Employee Management

The staffs of the company are quite important for the successful business operational activities. Performance done by the management has to be measured, as this helps the management in deciding the changes that has to be introduced for improving the performance. 

 The target assigned to the staffs has to be realistic, as this would help the management in achieving the set target or objectives. In this process the expectations of the company from the employees has to be analysed, and the same needs to be communicated. 

 In order to measure the performance for the company, effective timeline has to be drafted. Staffs of the company need to be motivated, as this will improve the performance for the management (Lobo, Cochran, and Duda, 2000). For this, the management need to provide the staffs with enough resources that would help in improving the performance, and introducing corrective steps immediately.

 For example, the company introduce performance oriented tasks for the staffs. Through this process the management evaluate the quality of performance and reward the best performing staffs. Employees with the research and development department are expected to work towards the product improvement and introducing new products for the staffs. 

 In this process, the management of the company has to introduce better methods for encouraging the staffs to work better. Impressive pay structure and recognition method can be introduced for encouraging the staffs to work better and improve the productivity (Cheng, Subramanyam, & Zhang, 2005).