org_u10
Last week, in your initial post, you considered the implications of the Fourth IR when developing a company’s strategic plans.
Post your responses to posts written by at least two of your peers. Address the following in your responses:
· In what way(s) do you agree or disagree with their assessments of the impact of their chosen aspects of the Fourth IR on their strategic plans?
· In what way(s) do you agree or disagree with their assessments of the impact of their chosen aspects of the Fourth IR on their companies?
· How might other aspects of the Fourth IR impact their strategic plans, their companies, or both?
Consider the following questions:
· Does your response push the conversation forward?
· Does your response offer your perspective?
· What about your peers’ stories can you relate to?
· What can you learn from your peers’ stories?
· Are your responses clear?
· Have you considered the viewpoints or insights of the original posts?
Peer One:
The company that I choose for this project is Toyota Motor Corp. The company was established in 1937 by Sakichi Toyota. Now, the company is one of the global 500 companies and its headquarters is located in Aichi Japan. Toyota’s operation had separated around the globe from Japan, North America, Latin America, Europe Africa, and Asia Pacific (Global Operation, n.d). Moreover, Toyota offered an abundance of services from the different industries; financial, robots research, and automotive (Other Toyota Business, n.d). Although they invest in numerous industries, their goals are to provide safe products to their customers.
One of Toyota’s well-known investments is the Cartica system, which is the pioneering computer-based perception system for the automotive market (Toyota AI, n.d). Cart products include; automated emergency braking, cruise control, collision warning, and predictive environmental model. It is great for Toyota’s objective because it enhances safety and reduces road accidents (Cartica AI, n.d). For example, their predictive systems provide accuracy on weather, distances, angles, and driving situations (Cartica AI, n.d). Moreover, this system will help reduce accidents because it helps drivers analyze road conditions and provide better suggestions for them. This aspect will play a vital role in the strategic planning of my company because one of our objectives is to reduce accidents and provide safer products. It will help us attract more customers and build a better reputation, which will help us gain our market share. Moreover, investing in this technology will also provide a technological opportunity for us. There are two disadvantages to this technology. First, if the predictive system had failed, it will create chaos in the road because of the unclear road condition and it will put drivers in danger. Also, there are chances of software prone to hacking if someone hacks your software and it will put you in potential danger nor you will be lost all of your personal information. For instance, tracking you down with the GPS or destroying your sensors and put you at risk. Overall, the merits of new technology could put us in a safer environment, but it is used in the wrong way it will be a calamity.
References
Cartex platform. (n.d.). Retrieved April 20, 2021, from https://cartica.ai/cartex-10
Toyota USA. Official Toyota Website. https://www.toyota.com/usa/.
Ventures, T. (n.d.). Toyota AI VENTURES. Retrieved April 20, 2021, from https://toyota-ai.ventures/portfolio.html
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Peer Two:
The company I chose for this project is Toyota Motor Corporation. They are headquartered in Japan and engage in the manufacturing and sale of motor vehicles and parts. The automotive segment of the company designs, manufactures, assembles and sells passenger cars, minivans, trucks, and related vehicle parts and services. They are also involved in the development of intelligent transport systems. Along with this, the financial services segment offers purchase or lease options to customers (Business, n.d.).
An aspect of the Fourth IR I'd like to discuss is artificial intelligence. I think the advancement of this technology could mean great things for Toyota Motor Corp. They are already making huge advances in the autonomous driving industry and are working towards having self-driving vehicles. These growing technologies open the doors for unprecedented processing power, storage capacity, and access to knowledge. This type of technology have made it possible for new products and services that increase the efficiency and pleasure of our personal lives. Technological innovation will also lead to a "supply-side miracle, with long-term gains in efficiency and productivity. Transportation costs will drop, logistics and global supply chains will become more effective, and the cost of trade will diminish" (Schwab, n.d.).
All of these factors would improve strategic planning for Toyota. This type of advancing technology will benefit them and help them to grow even faster. I would say two dangers of the Fourth IR would be competition and speed of expansion. Although the Fourth IR and all of its growing technologies will help Toyota advance, that means that it also helps their competition advance as well. This is also where speed of advancement comes into play. Technology grows rapidly and companies must be able to keep up with such fast paced changes. Toyota will have to constantly reevaluate their strategic plan in order to stay ahead of competition.
Resources
Business, C. (n.d.). Toyota Motor Corp. Retrieved April 20, 2021, from https://money.cnn.com/quote/profile/profile.html?symb=TM#:~:text=Toyota%20Motor%20Corp.,related%20vehicle%20parts%20and%20accessories.
Schwab, K. (n.d.). The fourth industrial Revolution: What it means and how to respond. Retrieved April 20, 2021, from https://www.weforum.org/agenda/2016/01/the-fourth-industrial-revolution-what-it-means-and-how-to-respond/
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