Toyota Way Principle #14 | Bold Strategy, Large Leaps, and Small Steps

14 Management Principles from the World's Greatest Manufacturer

Source: LIKER, JEFFREY K. TOYOTA WAY: 14 Management Principles (2nd Edition)
Narrated by the great author, Jeffrey Liker, Kaizen Made Easy is THRILLED to introduce to you the summary video of the Toyota Way 14th Principle
#Toyota_Way Principle #14 | Bold Strategy, Large Leaps, and Small Steps
🔴 Every organization needs a strategy for the products and services that will bring in customers.
Each company will need to define its own strategy based on its unique circumstances and work toward this vision with some large leaps and many small steps.
🔴 A strategy consists of a vision, a plan, ideas about the product or service, the target market, the means of delivery, and the service levels; it then needs to be put into action.
🔴 Toyota’s history of growth from start-up to global powerhouse has been a challenging journey filled with turns and twists.
🔴 Robert Quinn illuminated the world of strategy and how it relates to internal culture in the 1980s with his “competing values model.”
🔴 It is a great framework for understanding the relationship between strategy and execution.
Quinn began with two dimensions—control versus flexibility and internal versus external.
🔴 long-term thinking for Toyota includes building a highly-adaptive learning organization internally at all levels.
🔴 The open systems quadrant is the area Akio Toyoda is working hardest to strengthen through a variety of technology partnerships and internal advanced research organizations.
🔴 The author provides insightful tips for strategy development and execution.
⭕First, develop your own strategy based on your products, services, markets, and unique situation.
⭕Second, the competing values framework is a useful way to map your future strategy to strike an appropriate balance between external and internal, flexibility and control.
⭕Third, do not fall into the trap of thinking that just because you have a well-articulated strategy, with informative figures and charts, that you are done. You have only started.