Toyota

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Assignment One

Country : Sri Lanka Module name and Module code : 6FBS1059 - Contemporary Issues In Business (Sri Lanka On Line) (February - May 2012/13)

Group name : Born Leaders

Student names and student numbers:
- Mafaz Mohideen[12236368]
- Piumi De Alwis [12236369]
- Rixon Soris [12237405]
- Lasitha De Silva [13038814]
- Vidusha Silva [12236367]

Topic :
For a company of your choice and looking at the next 5 to 10 years, discuss. Which do you think will become more important, the management of human element of the organisation or the management of technology?  Which management perspective might best suit your chosen company? Justify why

Company : Toyota Motor Corporation

Accurate Word Count : 1976 words

Which do you think will become more important, the management of human element of the orgnisation or the management of technology?

This report gives out a brief outlook on the Management of Human and Technological elements of Toyota, while justifying the most important element when considering the next five to ten years.

Introduction

Toyota Motor Corporation abbreviated as TMC, is a Japanese multinational organization headquartered in Toyota, Aichi, Japan. TMC was first established in 1937 as a separated company from Toyoda Automobile Loom works. Toyota has employed 300,734 consolidated employees and 69,148 non-consolidated employees worldwide, as of 31/03/2012.( Toyota-global ,2013a) .TMC reclaimed the lead in global car sales over General Motors Co and Volkswagen Group in the first half of 2012 accounting for sales worth ¥ 18583.6 million (Rall.P, 2013). Today, Toyota has 7 factories in the United States, 15 in Japan and in 13 more countries around the world. Toyota is well known for its small cars and SUVs, but it is an industry leader in manufacturing techniques and has been a pioneer since its inception (Toyota ,2011). The Toyota Production System (TPS) is a benchmark for all manufacturing companies. Yet, it is questionable how a renowned company like Toyota could experience the type of quality problems that created numerous media headlines during year 2009 -2010. (Cusumano. M: 2013,p-33).

This report further looks into Toyota’s unique production system and its philosophy, and will go along inspecting the significance of human element and technology while considering the causes of the recent quality issues and thereafter suggesting the most important element that need to be managed in view of its future. Furthermore the report will suggest the most suitable management perspective whilst justifying.

Toyota’s production system

Toyota has been shaped by a distinctive set of principles and values that have their ancestry in the company’s developmental years in Japan. The Toyota way, a management philosophy used by TMC consist 14 key principles including Toyota production system ( TPS ). The Toyota Way has four components: Long-term thinking as a basis for management decisions, a process for problem-solving, Adding value to the organization by developing its people and recognizing that continuously solving root problems drives organizational learning. (1000advices ,2001) The “Toyota production system” (TPS) is the basis of Toyota’s global competitive advantage. It is not a solitary process but a cultural mindset that involve every element to work together ,in other words the system depends in part on a human resources management policy that encourage employee creativity and loyalty but also on a highly efficient network of suppliers and components manufacturers. The critical components of the TPS house are the just-in-time (even workflow) and jidoka (quality through human-controlled automation), Kaizen - Continuous Improvement, they are the pillars that create the structural integrity and protect continuous...
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