A Multinational Enterprise That Has a History of Doing Business in Europe and Evaluate How It Handled the Euro Crisis.

Introduction

Since the introduction of a singular currency market, it has created a big impact on key price strategies, and marketing investments due to more transparent pricing. (Suder,2011). Before any organization does business in Europe, other factors should be considered also, even though they are considered a single market, there are various factors that would affect doing business in Europe, in terms of culture, language, geographic and social aspects. As they are often similarities on a more macro level, it might show more differences on a more detailed level. As many countries within the European Union would have some differences in terms of socio-cultural differences.

In this assignment I would be using Toyota as a Main example of an MNC doing business in Europe and evaluate how they handled their business before, during and after the Euro Crisis. In the terms of Human Resource, Marketing, Culture.

Toyota

Toyota was founded in Japan in the 1930s as a sub-division of the Toyoda automatic looms production producing low cost cars. Originally introduced in the 1940-1950s as “Toyopet”, its first brand penetration into the United States but did not receive a warm welcome due to its brand name having connections to toys or pets, eventually the name was removed completely in the 1960s.

Sales started to pick up in the United States only during the oil crisis of 1973. When consumers wanted a fuel economic car. Eventually Toyota entered a joint venture in with GM, after the merger of Toyota Motors and Toyota Motor sales two years before. Named as Toyota Motor Corporation. In 1989 Toyota launched their luxury division Lexus.

Presence of Toyota in Europe

Toyota Motors Europe began its sales in 1963 as an official distributor, originally only imported 400 Toyota crowns, and eventually increasing to nearly 6000 units two years later. Eventually opening up its office in Brussels in 1970. They have been responsible for the employment of about 80,000 Europeans...