Essay: Resource Based View of Toyota
Another important element that needs to be taken into consideration is that is that it is not feasible to analyze the attractive and competitiveness of an industry without taking into account the resources a company brings to the industry. It can thus be said that this be coupled up with “Resource Based View” to allow the company to develop a better strategy.
This is crucial in the case of Toyota as it has further value in terms of successfully applying cost cutting measures through its successful application of Kaizen, leading to development of new techniques and procedures. These and the rapid technological development by Toyota are crucial to its success and allow it to fit into diverse markets and retain cost competitiveness relative to its rivals, as its happened in the US market.