The Toyota Way

14 Management Principles From the World’s Greatest Manufacturer
# 15min reading / 25min listening time
About the summary

Toyota is the world’s most profitable automaker. Its “secret weapon” is lean production — the revolutionary approach to business processes that it invented in the 1950s. Today, businesses around the world are trying to emulate Toyota’s remarkable success by working to implement the company’s radical system for speeding up business and service processes, reducing waste, and improving quality. To help other companies learn to continually improve on what they do, Professor of Industrial and Operations Engineering at the University of Michigan Dr. Jeffrey K. Liker describes the results of his year-long research into Toyota.

In This Summary You’ll Learn:

  • How to foster an atmosphere of continuous improvement and learning.
  • How to satisfy customers and eliminate waste at the same time.
  • How to get quality right the first time.
  • How to groom leaders from within rather than recruit them from the outside.
  • How to teach employees to become problem solvers.
  • How to grow together with suppliers and partners for mutual benefit.
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