Toyota recalls 690,000 trucks in US

Toyota recalls 690,000 Tacoma pickup trucks in US

Toyota is recalling 690,000 Tacoma pickup trucks in the US because of a potential vulnerability in the vehicles' suspension systems.

Toyota said that the pickup at the back could fracture and come loose through stress and corrosion. The loose pickup could then hit the fuel tank which could cause a leak. Even fire could break out. They found the build-up mistake before anyone got injured. But this isn't the first mistake of Toyota in the US. Last march, the US justice Department fined the firm $1.2bn for misleading costumers over safety issues. That was the largest criminal penalty imposed on a car maker in the US.

This is related to our course because it is about ethics, strategy and globalisation. Ethics because it is meant good from Toyota to return the cars to them to check on them so no one will get injured, but the owners of the Toyota's won't be happy about it and think that it's unethical. Also strategy, because Toyota is a big firm which need to focus on their strategy. Through the $1.2bn which they need to pay, they will have a very big loss, because it wasn't planned. Maybe their strategy was it to gain profit to start on a new project next year. In addition to that, is't also about globalisation, because Toyota is spread out all over the world. This is not good for their marketing, which is also all around the world. People in the US might now not buy it as often, so they might need to focus more on Europe or Asia.

http://www.bbc.com/news/business-29419253

Tesco inquiry into profit forecast

Tesco says it overstated profit forecast by £250m

Tesco says it has overstated it's expected profit for the half year by £250m.

This happened by mistake, but not a bad mistake. Tesco made £250m profit six months earlier than they expected. Early commercial income was the reason as well as not including some costs.

"I expect Tesco to operate with integrity and transparency and we will take decisive action as the results of the investigation become clear," Mr Lewis said.

Tesco would have made £250m profit by 23 August. Now it's expected they have a profit of £1.1bn. by 29 August

This little article is about change. It shows how quicky things can change and by how much. This happends not a lot, but it can happen. Also strategy is important. Their actual strategy was to have have a profit of £250m by 23 August. But they made already so much profit, so their new strategy is to have a profit of £1.1bn. by 29 August.

 

 http://www.bbc.com/news/business-29306444

Samsung accuses rival LG of damaging its washing machines

The article I chose is called "Samsung accuses rival LG of damaging its washing machines" and is about two big electronic manufactures, one of which acuses the other. Samsung said that LG employees vandalised Samsung washing machines  in Germany earlier this month (September 2014). LG's response was that this damage was merely an accident. "They said the damage occurred because the model's hinges were weak." LG said they wanted to get more information about rival's goods. Samsung wanted LG to pay for four washing machines although they damaged only two.  The police has already questioned the people involved.

This has something to do with SWOT analysis. Especially with threats, because it is external and it happened in public. Also because one business caused another business problems. This could be a strategy of LG to cause problems for samsung. Maybe LG's strategy was not to get caught, so Samsung thought that their new washing machine was a failure and needed to invest in a new project, which costs money. Or the plan was to get caught to create a sort of distraction.

http://www.bbc.com/news/business-29198728

BizMan Hw (September 4, 2014)

Nuclear plants offline until winter

Four nuclear reactors were turned off in the UK because of a crack, which was found only in one nuclear reactor. The other three reactors were then turned off because they were from the same design and could have had the same problem. An accident didn't happen, there is only concern about the shortage of the power for the citizens. Now it depends on the reparation for how long the nuclear reactors will be turned off. Sure is, that the UK can't compensate for long, because a quarter of the nuclear reactors are already turned off and will futher be till the winter. The reparation and the checking of the other three nuclear reactors could be ready between end October and end December. During this period of time, EDF Energy said that they want to work on a new timetable. But first they need to see how they want to compensate this incident. EDF Energy said that they are already working on it.

Christopher Fey

 http://www.bbc.com/news/business-29058644