Toyota: Toyota and Toyota Motor Corporation Essays

Submitted By RuiBaptista
Words: 541
Pages: 3


Toyota is one of the world's largest automobile manufacturers, selling over 8.8 million models in 2006¹ on all five continents. A Top 10 Fortune Global 500² enterprise, Toyota ranks among the world's leading global corporations and is proud to be the most admired automaker³, an achievement the company believes stems from its dedication to customer satisfaction. Toyota has been shaped by a set of values and principles that have their roots in the company's formative years in Japan.
The Toyota story begins in the late 19th century, when Saki chi Toyoda invented
Japan’s first power loom, which was to revolutionize the country’s textile industry. In January 1918, Saki chi founded the Toyoda Spinning & Weaving Company, and with the help of his son, Kiichiro Toyoda, he fulfilled his lifelong dream of building an automatic loom in 1924. Two years later, he established Toyoda Automatic Loom Works.
Like his father, Kiichiro was an innovator, and during his visits to Europe and the U.S. in the 1920s, he became deeply interested in the nascent automotive industry. Making the most of the £100,000 that Sakichi Toyoda received for selling the patent rights of his automatic loom, Kiichiro laid the foundations of Toyota Motor Corporation (TMC), which was established in 1937. From looms to cars, the Toyota experience has been shaped by extending the boundaries of manufacturing. Benchmarking

Every business can use benchmarking. At its simplest, it helps you to compare statistics and control costs. More sophisticated benchmarking looks at process design and business strategy. Benchmarking is a process that compares your business activities to similar companies. It questions what you are doing, identifies opportunities for improvement and often provides the momentum necessary for implementing changes.

Toyota leadership

* CEO commitment , lead TQM, insolent not delegation

* Understanding and expertise in TQM, critical factors principles, techniques

* Develop quality initiatives to suite the organisation-do not rely on packages

* View TQM as a strategic tool

* Emphasize long term investment in education,