The heart of Toyota’s strategy in motor vehicles is to outcompete rivals by manu
ID: 2496110 • Letter: T
Question
The heart of Toyota’s strategy in motor vehicles is to outcompete rivals
by manufacturing world-class, quality vehicles at lower costs and selling
them at competitive price levels. Executing this strategy requires top-notch
manufacturing capability and super-efficient management of people, equipment, and materials. Concepts & Connections 10.1, discusses the principles,
practices, and techniques grounded in Toyota’s famed Toyota Production
System. How does Toyota’s philosophy of dealing with defects, empowering
employees, and developing capabilities impact strategy execution? Why are
its slogans such as “Never be satisfied” and “Ask yourself ‘Why?’ five times”
important?
.
Explanation / Answer
The Toyota’s strategy is the collection of techniques and practices and integrated them into a full-fledged process known as Toyota Production System, have the following principles, practices and techniques. This philosophy is adopted in many areas.
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