PERFORMANCE MANAGEMENT AND

APPRAISAL
ASSIGNMENT # 3
EVALUATING MISSION & VISION
STATEMENTS
COMPANY: TOYOTA

SUBMITTED TO:
SIR SHAHID MIRZA

SUBMITTED BY:
HOORIYEH ALI
 26/02/2017

TABLE OF CONTENTS

HISTORY OF THE COMPANY........................................................................................ 3

TOYOTA MISSION STATEMENT: ANALYSIS....................................................................4
TOYOTA VISION STATEMENT: ANALYSIS.......................................................................5
OVERALL EVALUATION AND CONCLUSION..................................................................6
 HISTORY OF THE COMPANY

Toyota was founded by Kiichiro Toyoda in 1937, and was a spin-off from his
fathers Toyota Industries, specifically created to manufacture
automobiles. This multinational automotive manufacturer is headquartered
in Toyota, Aichi, Japan. Toyota is the world's market leader in sales of hybrid
electric vehicles, and one of the largest companies to encourage the mass-
market adoption of hybrid vehicles across the globe.

Toyota Motor Corporation produces vehicles under five brands, including the
Toyota brand, Hino, Lexus, Ranz, and Daihatsu. As of February 2016, Toyota
was the 13th-largest company in the world by revenue, and was also the
world's first automobile manufacturer to produce over 10 million vehicles a
year, and it has consecutively held this record since 2012. Cumulative global
sales of Toyota and Lexus hybrid passenger car models achieved the
10 million milestone in January 2017. Its Prius family is the world's top selling
hybrid nameplate with over 6 million units sold worldwide as of January
2017.
 TOYOTA MISSION STATEMENT: ANALYSIS

Toyota Mission: To make maximum long-term profits for its stockholders

and be a good corporate citizen.

Characteristics
1. Basic Products offered. Not fulfilled nowhere is basic
product range mentioned.
2. Primary customers. Not fulfilled customers not outlined
in detail, term stockholders only
used widely to club in all.
3. Unique features/ Not fulfilled No unique features,
benefits/ advantages. benefits or advantages highlighted.
4. Technology to be used in Not fulfilled Technology to be used
production. not mentioned anywhere
5. Fundamental concern for Fulfilled States main gist of mission
growth through statement to make maximum long
profitability. term profits).
6. Managerial philosophy. Somewhat fulfilled managerial
philosophy not discussed directly,
but indirectly discuss it.
7. Public Image sought. Fulfilled Talk about being good
corporate citizens.
8. Self-concept of business Not fulfilled Not mentioned or not
adopted by employees & highlighted in the mission
shareholders. statement.
 TOYOTA VISION STATEMENT: ANALYSIS

Toyota Vision: To become the most successful and respected car company
in each market around the world by offering customers the best purchasing
and ownership experience.

Characteristics
1. Brief so employees can Fulfilled A brief yet comprehensive
remember it. vision statement.
2. Verifiable stands Fulfilled It has delivered and
reality test. achieved what it set out to do and
claimed in the vision statement.
3. Bound by a timeline for Not fulfilled No timeline
all aspirations. highlighted in statement for
successful completion of vision.
4. Current updated on an Not fulfilled Hass already reached
ongoing basis. this stage and mostly fulfilled its
vision, need to update.
5. Focused does not Fulfilled Has one vision in mind,
include everything. while stating how to make it
possible.
6. Understandable clear Fulfilled Not difficult to understand
& straightforward. and make sense of, straightforward.
7. Inspiring Makes Somewhat fulfilled While it is quite
employees feel good motivating to be most successful
about organization's and respected company in the
direction and motivates industry, however not too unique
them to achieve it. and motivational. Also depends on
type of people as employees and
their aspirations
8. Stretch not easily Fulfilled Took years of hard work
 attained. and dedication to realize this vision,
the need to strive remains even
now.

OVERALL EVALUATION AND CONCLUSION

How many of the ideal 8 characteristics of mission statement are

present?

Out of the ideal 8 characteristics of a mission statement, only 2 are fulfilled,

which are those of fundamental concern for growth through profitability, and
public image sought.

How many of the ideal 8 characteristics of vision statement are

present?

Out of the ideal 8 characteristics of a vision statement, a majority of 5 are

fulfilled, these being those of brevity, verifiable, focused, understandable and
stretch.

Do they both serve their purpose?

While the vision statement does fulfill its purpose, the mission statement
does not.

Collectively, are they useful tools to link organizational priorities

with individual and team performance?
Ideally, the mission and vision statement both are important tools to link
organizational goals and priorities to individual/team goals and performance.
Collectively, both the statements are definitely useful for this purpose, but
can do even better at it if the mission statement is improved, and can give
better performance.