Toyota Motor Corporation1. IntroductionToyota, known as Toyota Motor Corporation, is one of the hottest names in the automotive industry today. Toyota is one of the most competitive companies globally and has seen record success in recent years. In more recent years, the global automotive industry has been plagued by high gas prices and stricter environmental protection laws. Like all car manufacturers, Toyota has had its work cut out for it, but to no avail has been one of the most successful companies to date. Toyota has also been one of the industry leaders in developing new and innovative technologies that take advantage of current industry hurdles. One of the most impressive things about this company is the reach and global footprint it currently operates. "...Toyota Motor Corporation is one of the world's most iconic automotive manufacturers, producing vehicles in 26 countries and regions and marketing vehicles in more than 170 countries and regions. In fiscal 2006, on a consolidated basis, Toyota supplied nearly eight million vehicles to customers worldwide. the world under the Toyota, Lexus, Daihatsu and Hino brands Toyota had more than 280,000 employees at the end of fiscal 2006” (Toyota Motor Corporation, 2006). the industry has faced in recent years has been stable and sustainable growth, and Toyota has taken this challenge to heart. Toyota intends to produce "...cars that reflect the needs of customers and society, Toyota will aim for sustainable growth and will contribute to the development of the automotive industry" (Toyota Motor Corporation, 2006). There is no doubt that this company will achieve these goals in the future, and it is expected that it will do so with record success, just as it did in last decade. (Toyota Motor Corporation, 2006).1.1. HistoryToyota Motor Corporation was officially founded in 1937 as Toyota Motor Co, although the company had produced its first vehicle, the G1 truck in 1935 and its first production model, the Model AA passenger car in 1936. (Toyota Motor Corporation, 2006) Toyota dates back to 1918 when "Sakichi Toyoda founded the Toyoda Spinning & Weaving Co" (Toyota Motor Corporation, 2006). The original name was Toyoda, but the name was changed before the company went public, because Toyota was believed to be a luckier name than Toyoda. (Toyota Motor Corporation, 2006) By 1947 Toyota had produced more than 100,000 vehicles nationwide, and production of the second model hit the assembly lines.