The Toyota Way14 Management Principlesfrom the World’s Greatest Manufacturer
Author : Jeffrey K. Liker .
University of Michigan, Ann Arbor
Continuous Improvement(Kaizen)
Creating
anization
Developing/
Nurturing
Respect
for
People
Toyota Way
(DNA)
"The true value of continuous improvement is in creating an atmosphere of continuous learning and an environment that not only accepts, but actually embraces change. Such an environment can only be created where there is respect for people - Liker"
Camry was the top selling . passenger car in 2003 and five of the years prior.
Corolla was the top selling small car in the world
Lexus was introduced in 1989 and in 2002 outsold BMW, Cadillac, and Mercedes-Benz in the . for the third year in a row
Toyota sold more vehicles in North America than one of the “Big 3” automakers (Chrysler), could eventually e a permanent member of the “Big 3” . automakers.
Toyota’s dramatic business ess and world-leading quality
Annual profit in 2003, was $ billion, profitable every year over the last 25 years - larger than bined earnings of GM, Chrysler, and Ford.
Shares price in 2003 had increased 24% over 2002. Market capitalization was $105 billion as of 2003 – higher than bined market capitalization of Ford, General Motors, and Chrysler.
Return of assets is 8 times higher than the industry average.
$20-$30 billion in
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