Toyota’s Creative Execution Formula

Toyota’s success on the world stage stems from two primary advantages that the Japanese company has nurtured over the past 70 years: one is the Toyota Production System (TPS), which the Toyoda family developed and fine-tuned after its study of Ford’s manufacturing facilities in the United States; the second is Toyota’s deep listening culture, which has allowed the company to make the right choices for customers while retaining a humble, learning attitude. As Hirotaka Takeuchi, Emi Osono, and Norihiko Shimizu wrote in the Harvard Business Review after studying Toyota for six years, “TPS is a ‘hard’ innovation that allows the company to keep improving the way it manufactures vehicles; in addition, Toyota has ...

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