Verified Document

Toyota-2 The Chief Process Improvement Essay

If the principles of CCC21 and Value Innovation were based on the concept that production materials could be halved because they amounted to waste, those initiatives should be discarded. Ideally, Toyota should utilize 100% of the materials that it used prior to CCC21, when all of its quality issues began. The cost-benefit analysis of this return to basics approach of Toyota manufacturing is critical. One the one hand, Toyota will probably ensure a significant raise in cost by utilizing the percentage of materials and time that it took to produce automobiles that it once did. Yet the benefits will certainly outweigh those costs. After Toyota succeeded in dethroning General Motors as the top automobile manufacturer in 2008, it posted several negatives in its profit margins during March of 2009 (in areas such as operating income, non-operating income, income before taxes and others) which indicated that due to the economic crisis at the time (Greto, 2010, p. 18), globalization and leading in sales was not necessarily beneficial. With the economy having stabilized somewhat since then, Toyota's utilization of all of...

Stakeholders will benefit from competitive advantages such as a loyal customer base.
References

Belsie, L. (2011). "Toyota recall: final fix for sudden acceleration?" The Christian Science Monitor. Retrieved from http://www.csmonitor.com/Business/2011/0225/Toyota-recall-Final-fix-for-sudden-acceleration

Greto, M., Schotter, a., Teagarden, M. (2010). "Toyota: The accelerator crisis." Thunderbird School of Global Management.

Liker, J. (2004). The 14 Principles of the Toyota Way: An Executive Summary of the Culture Behind TPS. New York: McGraw-Hill.

No author. (2009). "Keiretsu." The Economist. Retrieved from http://www.economist.com/node/14299720

Ohnsman, a., Green, J., Inoue, K. (2010). "The Humbling of Toyota." BusinessWeek. Retrieved from http://www.businessweek.com/magazine/content/10_12/b4171032583967.htm#p2

Yang, C.…

Sources used in this document:
References

Belsie, L. (2011). "Toyota recall: final fix for sudden acceleration?" The Christian Science Monitor. Retrieved from http://www.csmonitor.com/Business/2011/0225/Toyota-recall-Final-fix-for-sudden-acceleration

Greto, M., Schotter, a., Teagarden, M. (2010). "Toyota: The accelerator crisis." Thunderbird School of Global Management.

Liker, J. (2004). The 14 Principles of the Toyota Way: An Executive Summary of the Culture Behind TPS. New York: McGraw-Hill.

No author. (2009). "Keiretsu." The Economist. Retrieved from http://www.economist.com/node/14299720
Ohnsman, a., Green, J., Inoue, K. (2010). "The Humbling of Toyota." BusinessWeek. Retrieved from http://www.businessweek.com/magazine/content/10_12/b4171032583967.htm#p2
Yang, C. (2011). "Toyota sudden acceleration "verdict" is in." CBS News. Retrieved from http://www.cbsnews.com/8301-503544_162-20031069-503544.html
Cite this Document:
Copy Bibliography Citation

Related Documents

Toyota Although There Are a
Words: 2070 Length: 7 Document Type: Essay

This process improvement is implied in the manufacturing and the upper-level management changes, and should be prioritized as such. Another manufacturing process that Toyota needs to address and which is implicit in the previously mentioned manufacturing process is its increasing propensity to utilize parts suppliers outside of its keiretsu, which loosely translates into headless combination (No author, 2009). Keiretsu is a Japanese term for the tiered hierarchy of additional companies

Business Quality Improvement Tools Six
Words: 1603 Length: 5 Document Type: Research Paper

There are a variety of techniques utilized for quality improvement, each with its own characteristic role in the completion of the procedure as a whole (Methods for Quality Improvement, 2010). Product improvement is one of the major methods used. The proposal behind this is that the more goods that are improved, the better they will sell. As time progresses, so do significant features of customer approval. Consumers anticipate the essential

Challenge of Managing All Stakeholders in the Context of a Merger...
Words: 23212 Length: 80 Document Type: Term Paper

Managing All Stakeholders in the Context of a Merger Process Review of the Relevant Literature Types of Mergers Identifying All Stakeholders in a Given Business Strategic Market Factors Driving Merger Activity Selection Process for Merger Candidates Summary, Conclusion, and Recommendations The Challenge of Managing All Stakeholders in the Context of a Merger Process Mergers and acquisitions became central features of organizational life in the last part of the 20th century, particularly as organizations seek to establish and

Organization Financing: Toyota -- Evaluate
Words: 448 Length: 1 Document Type: Term Paper

As a result the "Driving for Higher Performance" campaign (note the play on words of the company's general mission to produce better and better cars every year) Toyota is "now able to zero in on where there are major fluctuations" that deviate from its overall mission of excellence and "drill down on variances that could impact the forecast for the balance of the year," according to Doi. (Ozzimo, 2006)

Communicating and Implementing Change at Toyota Company
Words: 1265 Length: 4 Document Type: Term Paper

Communication and Resistance to Change Reasons for resistance to change It is challenging for Toyota Corporation to avoid change because new ideas promote growth for the organization and its members. There are various reasons for the suggested changes like the acquisition of new technology, decreases or increases in funding, new staff roles new goals, vision or missions and to reach new clients. Though changes could create new opportunities, they are often met

Manufacturing World Class Manufacturing
Words: 15740 Length: 57 Document Type: Term Paper

Manufacturing Seven Key Elements for Successful Implementation Norman Binette, Jr. Biddeford, Maine Manufacturing organizations are built on the premise that they possess the ability to provide a wide variety of quality products for their customers. This reputation is dependent upon the constant review of existing processes and the identification of new and innovative methods of production that will enhance and increase the diversification of product lines. One such process that has proven itself

Sign Up for Unlimited Study Help

Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.

Get Started Now