Problem: For decades Toyota has been one of the most admired companies in the world. They were able to turn their image in the 1960's and 70's from cheap Japanese import to the car of choice for millions of consumer's world-wide.
What strategy (or combination of strategies) did Toyota use to make the company into the powerhouse we know today? Has it changed over the years, or been constant? How does this strategy "fit" with the environment of the automobile industry? How does it fit with the internal resources and competencies of the firm?
Consider which strategy (or strategies) Toyota has used over the years. Draw on Porter's four generic strategies.
Explain how this strategy takes fits with the elements you identified in the external environment as well as the internal environment of the firm.
Reference:
Toyota history: Corporate and Automotive (2010) ToyoLand Retrieved from https://www.toyoland.com/history.html