Summary: How Toyota Became #1 - David Magee

Summary: How Toyota Became #1 - David Magee

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Complete summary of David Magee's book: qHow Toyota Became #1: Leadership Lessons from the Worlda€™s Greatest Car Companyq This summary of the ideas from David Magee's book qHow Toyota Became #1q shows that the criteria and qualities leading to Toyotaa€™s rise to the top had little to do with sales results or profit margins. This summary points out how Toyota has created such a successful corporate environment, and how others can emulate them. In fact, Toyota looks at new products from the perspective of what customers want, rather than what they have capability to make; managers have empowered even bottom-level employees to act for themselves. Factual information is treated as autocratic: it doesna€™t matter whether those facts come from senior management or lower down. Toyota is famous for having a production line that can be halted by anyone, because everyone is responsible for quality control. Executives dona€™t have special parking spots, they are expected to work longer hours, and they walk the manufacturing floor regularly. In other words, Toyotaa€™s philosophy is based on mutual respect of all employees, and the willingness to prioritize the customer over procedural convenience. Ita€™s possible, no matter the market, for others to do the same. Added-value of this summary: a€c Save time a€c Understand the key concepts a€c Increase your business knowledge To learn more, read qHow Toyota Became #1q and create your own successful environment.There is almost an unwritten expectation that at the first hint of trouble, executives will bail out with their bonuses and hand the problems to the next guy ... the Camry is todaya#39;s number one seller while many of the models Ford and GM supported with unprofitable fleet sales no longer exist. ... By 2007, Toyota was selling more than 430, 000 Prius sedans while sales of large SUVs at Ford and GM has fallenanbsp;...

Title:Summary: How Toyota Became #1 - David Magee
Author:BusinessNews Publishing
Publisher:Primento - 2013-02-15


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