A. WHY STUDY TOYOTA?
In 2010, despite the recall crisis in 2009 that struck the Toyota Motor Corporation badly, Toyota managed to make a remarkable recovery to rank first globally with 8.6 million units produced. In this assessment, we will evaluate how Toyota turns its strategy into action, how it translates actions into their desired outcomes, which then articulates to its success. The 4P model: Philosophy, Process, People, and Problem Solving has actually led the Toyota Way and contributed to Toyota becoming the best in the industry on cost, quality and service. B. TOYOTA’S MISSION AND VISION
In Toyota, management decisions are based on a long term philosophy even at the expense of short term financial goals. Aligning this approach with the strategy implementation levers by Hambrick and Canella, it is said goals form the core of the full array of implementation levers: resource commitments, subunit policies and programmes, structure, people and reward. With a clear goal and vision in place, the implementation levers will be steadily fine-tuned, adjusted and responded to no change in the core values. Within Toyota, goals are clearly defined and aligned across the board. The key purpose is not to build on making a quality product that only sells and generates money for the owners but rather, focus to add value to customers and society. Toyota leaders, possess both a charismatic and instrumental style (Nadler & Tushman), which has genuinely led its associates to grow and learn, to invest in long-term technologies and create lasting customer satisfaction with the goal of getting repeated business for life. C. DEVELOPING TEAMS FOR PROBLEM SOLVING
Toyota is a learning organization that literally thrives on its people engaging in identifying and solving problems together and achieving results that will benefit everyone. Toyota’s third principle is built around delivering exceptional teams. It fully recognizes the importance of people,...
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