Introduction: Definition of Concepts Strategic management refers to the methodical examination of the factors related with clients and competitors and the firm to come up with the ground for maintaining maximum management practices. Simply put, it is the process of examining the internal and external environments of an organization (BusinessDictionary.com, Web). Strategic management involves examination, decisions, and actions that a firm carries out to create and maintain competitive advantages (Dess, 2005). Competitive Strategy refers to continual plan of action designed to enable an organization achieve a competitive advantage in a certain market segment or over its competitors (BusinessDictionary.com, Web). Deriving from this, strategic competitiveness is the advantage that one firm has over its competitors. This essay seeks to examine Toyota Corporation on various aspects. Impact of Globalization and Technology on Toyota Corporation There exist different definitions for globalization but for the sake of this essay, globalization is the evident identifiable organization of firms and regulations that enable taking of advantage of communities and states and their resources by international companies (Vogel, 2008). Globalization happens not only in the developing world but also in the developed world. For instance, Toyota has 13 operational manufacturing units in North America (Vogel, 2008). The Toyota Corporation laid claim to the fact that its revenues went up due to ‘lean manufacturing’ but looked at closely, that translates to a myth. Globalization has enabled Toyota Corporation to venture out into regions that have cheap labor. This is what the company has taken advantage of, as well as the drastic slashing of operational costs to boost its revenues (Vogel, 2008). Where technology is concerned, Toyota has engaged in hybrid technology, an idea that saves on fuel consumption. This has lead to a high demand for such cars and more revenues for the company (Vogel, 2008). Industrial Organization Model Industrial organization Model of above Average Returns looks that the external environment influences the strategic plans of an organization. According to the model, the production field that an organization opts to compete in has a greater impact on performance than the options that the management comes up with in the company (Adner & Helfat, 2003). The organizational performance is seen to be influenced by such industry features like economies of scale, penetration barriers, differentiation of products and services, diversifying, and the level of concentration of organizations in the industry (Adner & Helfat, 2003). The model operates on four assumptions. First, external environment exerts force and constraints that will influence the strategies that will lead to above-average returns (Adner & Helfat, 2003). Secondly, majority of the rivals take charge alike strategically relevant inputs and such inputs dictate the companies’ strategies (Adner & Helfat, 2003). The third assumption intimates that inputs used to realize strategies are highly movable across organizations and as such, input gaps between various cannot last long (Adner & Helfat, 2003). Lastly, a company’s management is rational and acts in the best interest of the organization as indicated by their desire to maximize profits (Adner & Helfat, 2003). The model decrees that firms must identify the most appealing ind