Organizational Planning within Toyota Financial Services
Success in business is earned, not in dollars and cents, but around the quarterly, semi-annually and annually strategic planning. The top fortune 500 companies evaluate and analyze themselves constantly in order to maintain existing markets, and to maximize productions efforts. The way a company handles its strategic, tactical and operational planning will determine how the company progresses over the years; and also the way it handles contingency planning will allow them to overcome any obstacles which may arise. Toyota Financial Services uses all of these types of planning in their day-to-day operations. When it comes to legal issues, ethics and corporate social responsibilities Toyota, analyzes and evaluates all aspects in their planning. And when other factors may impact their goals negatively Toyota will rise to the challenge.
All aspects of planning are important in every organization. Top-level managers within Toyota have regular meetings to discuss losses and delinquency and with the economy the way it is a lot of emphasis has been place on collections, strategic planning has to be done to drive the delinquency rates back down. That is when middle management is brought in to further discuss their plans and break them up into tactical plans. Currently middle manager has set goals for the different areas within collections to raise their promise to pay rates. Promise to pay rate is the percentage of the number of customers we can negotiate payments from divided by the number of right party contacts we have. The goal has been set to 56%, in the past months it has been as low as 45%, which translates into less than half of the customers we get a hold of are actually paying. After this goal has been set it is sent down to the frontline manager, also called Team Leads at Toyota, and then they begin their operational planning. In late stage there are three team leads, they work directly with...