Toyota
Toyota’s legendary journey has taken them from a small production company in the 1940s and 50s to the international enterprise they are today, with a market capitalisation greater than General Motors, Ford and DaimlerChrysler combined.
Toyota’s annual profit at the end of its fiscal year in March 2003 was £4.4bn – larger that the combined earnings of GM, Chrysler and Ford. By March 2006 it reached £6.5bn and since the first quarter of 2007 Toyota has overtaken GM as the largest auto manufacturer by volume. Its net profit margin per vehicle is 8.3 times higher that the industry average. Toyota has the fastest product development process in the world: new cars and trucks take 12 months or less to design, while competitors typically require two to three years.
Toyota is benchmarked as the best in class by all of its peers and competitors throughout the world for high quality, high productivity, cycle time and flexibility. Toyota automobiles have consistently been at the top of quality rankings by J.D. Powers consumer reports for many years. And the list goes on… this is a company that we should all know a lot about!
Prof. Dr.
Jeffrey K. Liker
is arguably the world’s greatest expert on the culture and methods behind the phenomenal success of Toyota. He has studied Toyota for over 20 years, gaining unique access to the company’s key people and internal resources.
Jeffrey Liker authored several books, including:
- The Toyota Way
- The Toyota Way Fieldbook
- Toyota Product Development
- Toyota Talent
- Toyota Culture
Prof. Liker has successfully applied his insights in many other organisations, transforming their performance in their own markets. He teaches at the University of Michigan in Ann Arbor.