CATEGORY

What we can all learn from the strategies that have made Toyota the worlds best car company

Everyone who follows the auto industry knows that Toyota has had an amazing twenty-five-year run, rising from humble Japanese start-up to thriving global giant. But the big puzzle is how Toyota did it while so many other car companies have struggled or failed.

Journalist David Magee dug deeply into Toyotas past and present, interviewing senior executives who rarely talk to the press, along with many other sources. And he found that the companys famous mastery of lean production is only part of the story. Magee explains the surprising power of Toyotas corporate culture, which includes:

Focusing on the long term: While most companies worry about the next quarter, Toyota is thinking about the next quarter century

Jumping beyond the current trend: When Ford was still ramping up its gas-guzzling SUVs, Toyota was very quietly taking a huge lead on hybrids

Making quality everyones responsibility: Toyota expects people at every level to think and act like quality-control inspectors

Managing individual strengths: Toyota is revolutionizing the way people are managed, to maximize their strengths instead of criticizing their weaknesses

The lessons that Magee explains here will be valuable for managers in all disciplines and industries.