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Book Review: The Toyota Way  by Mehul Bardia
Book Review: The Toyota Way  by Mehul Bardia
Book Review: The Toyota Way  by Mehul Bardia
Book Review: The Toyota Way  by Mehul Bardia
Book Review: The Toyota Way  by Mehul Bardia
Book Review: The Toyota Way  by Mehul Bardia
Book Review: The Toyota Way  by Mehul Bardia
Book Review: The Toyota Way  by Mehul Bardia
Book Review: The Toyota Way  by Mehul Bardia
Book Review: The Toyota Way  by Mehul Bardia
Book Review: The Toyota Way  by Mehul Bardia
Book Review: The Toyota Way  by Mehul Bardia
Book Review: The Toyota Way  by Mehul Bardia
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Book Review: The Toyota Way by Mehul Bardia

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  • 1. 14 Management Principles from the World’s Greatest Manufacturer1 INDIAN INSTITUTE OF MANAGEMENT RAIPUR
  • 2. Introduction The Toyota Approach – 4P’s Key Learnings Current Performance Applying Toyota Way in our life2 INDIAN INSTITUTE OF MANAGEMENT RAIPUR
  • 3. Introduction3 INDIAN INSTITUTE OF MANAGEMENT RAIPUR Choose a “handwritten” font to make this book more like a notebook or a standard font to look more like a printed book.
  • 4. Long-Term Principle 1 Philosophy The Right Process Will Produce the Principles 2 - 8 Right Results Add Value to the Organization by Developing Your People Principles 9 - 11 and Partners Continuously Solving Root Problems Principles 12 -144 INDIAN INSTITUTE OF MANAGEMENT RAIPUR
  • 5. o Philosophy o Base your management decisions on a long term philosophy, even at the expense of short term financial goals. o Process o Create continuous process flow to bring problems to the surface. o Use “pull” systems to avoid overproduction. o Level out workload (heijunka). o Build a culture of stopping to fix problems, to get quality right the first time. o Standardized tasks are the foundation for continuous improvement and employee empowerment o Use visual control so no problems are hidden. o Use only reliable thoroughly tested technology that serves your people and processes.5 INDIAN INSTITUTE OF MANAGEMENT RAIPUR
  • 6. o People and Partners o Grow leaders who thoroughly understand the work, live the philosophy, and teach it to others o Develop exceptional people and teams who follow your company’s philosophy o Respect you extended network of partners and suppliers by challenging them improve. o Problems o Go and see for yourself to thoroughly understand the situation. o Make decisions slowly by consensus, thoroughly considering all options; implement decisions rapidly o Become a learning organization through relentless reflection (hansei) and continuous improvement (kaizen)6 INDIAN INSTITUTE OF MANAGEMENT RAIPUR
  • 7. o Working Capital Management as a Competitive Advantage o The real meaning of Value o Self-Improvement o Applying the Toyota Way7 INDIAN INSTITUTE OF MANAGEMENT RAIPUR
  • 8. 1.5 Current 1 Ratio Quick 0.5 Ratio 0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 40 30 20 NWC 10 CFO 0 2002 2003 2004 2005 2006 2007 2008 2009 2010 20118 INDIAN INSTITUTE OF MANAGEMENT RAIPUR
  • 9. 140 120 100 80 CCC DSI 60 DSO DPO 40 20 0 2002 2003 2004 2005 2006 2007 2008 2009 2010 20119 INDIAN INSTITUTE OF MANAGEMENT RAIPUR
  • 10. 30.00% 25.00% 20.00% 15.00% NPM GPM 10.00% ROA 5.00% ROE 0.00% 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 -5.00% -10.00%10 INDIAN INSTITUTE OF MANAGEMENT RAIPUR
  • 11. Automaker Overall Make & Model Overall Score ScoreHonda 74 Lexus LS 460L 99Subaru 73 BMW 135i 97Toyota 71 Infiniti G37 (sedan) 95Volvo 68 Toyota Camry Hybrid XLE 93Ford 67 Audi A6 (3.0T) 93Hyundai 66 Infiniti M37 93Mazda 65 Nissan Altima 3.5 SR 93Nissan 65 Chevrolet Corvette Z06 92Volkswagen 63 Hyundai Genesis 3.8 (sedan) 92Mercedes – Benz 57 Toyota Camry XLE (V6) 92BMW 57 Audi A8 L 91General Motors 56 Lexus ES 350 91Chrysler 11 43 Nissan Altima 2.5 S 91 INDIAN INSTITUTE OF MANAGEMENT RAIPUR
  • 12. Start doing Think it and creatively. learn by Map the doing flow using a PDCA. Identify Repetitive processes Customer and the added value.12 INDIAN INSTITUTE OF MANAGEMENT RAIPUR
  • 13. 13 INDIAN INSTITUTE OF MANAGEMENT RAIPUR

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