With time it was decided to move Toyota into the car business and in 2008 the company celebrated its 50th anniversary of working in the USA and won a Reputation Institute’s Global Pulse 2008 (Dennis 2008). This award was given to the corporation for respect, trust and positive feelings consumers hold toward the company. Toyota Production System, managerial strategies, changes and innovations employed have become an example of successful and efficient work for companies like Ford, Chrysler, and General Motors (Taylor 1997, 100-108).
Nowadays the company works worldwide and has 53 manufacturing companies in 27 countries and regions, including 9 in the US, and 10 in Japan. The vehicles are sold in more than 170 countries and regions. The company has regional headquarters for Asia, North America, and Europe. (Toyota Motor Corporation 2007).
Among their automotive brands are Toyota, Lexus, Hino, and Daihatsu. Now the company is expanding its operations in Europe and Russia, and this year plans to introduce to the European market low-emission vehicles (Yahoo!Finance 2008). Being the first company to have developed a successful hybrid technology, and having invested into it $800 million, Toyota plans to employ it in the nearest years, and transfer to hydrogen gas fuel sometime around 2020 (Rajagopal 2005, 1). The company has succeeded in the introduction of the new concept due to the high demand for hybrids. Ford and Nissan followed the trend of having being licensed by Toyota. However, the Toyota Group also deals with housing, financial services, GAZOO, marine vehicles, communications, and biotechnology among other areas (Toyota Motor Corporation).
Probably among the reasons of such a success is the fact that Toyota is the company which sets specific and high standards in the processes of manufacturing and product development. They have succeeded in all the aspect of managing production. The effectively used approach tends to clarify and standardise all the parts of both actual manufacturing and managing processes.