Nobody downloaded yet

14 Principles of the Toyota Way (Toyota Production Systems) - Thesis Example

Comments (0) Cite this document
Summary
Apart from making profits and generating adequate revenue, companies also strive tirelessly towards achieving this through the least effort by cutting down on the time, money and effort spent on…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER97% of users find it useful
14 Principles of the Toyota Way (Toyota Production Systems)
Read TextPreview

Extract of sample "14 Principles of the Toyota Way (Toyota Production Systems)"

Download file to see previous pages Corporation is the world’s largest automaker and the high quality ratings for its vehicles are a result of very few defects found in them in comparison to any other competitors. Across all its production facilities throughout the world, Toyota has been known to raise the bar for maintaining quality and efficiency in a consistent fashion thereby bringing in a sense of excellence into manufacturing, procedures and product development. The result of this management strategy has been its steady rise into amassing a market share and revenue margin to such an extent that saw it making a larger profit than every other major automaker in addition to gaining the respect, admiration and praise of every business leader and management expert around the world (Jeffrey Liker, 2004).
The ‘Toyota way’ is a management philosophy that revolves around a set of management principles followed by Toyota that are known to have contributed to the enhancement of its reputation the world over in terms of reliability and quality. These management principles are collectively used under the ‘Toyota production system’ also known as ‘Lean production’ (Michael Hoseus, 2007). The purpose of such a production system is aimed at improving the speed with which business processes are executed, provide more quality in the product or service, reduce the cost of operation and management and achieve all this irrespective of the industry where such a management system has been adopted.
The Toyota Production System is one of the foundational principles which is a part of the corporate culture within the Toyota group. Over the years, the system has evolved into a paradigm par excellence for the manufacturing world and has transformed the prospects for several industries. The approach has helped foster better involvement from the employees across all levels of the organization and has provided a tangible oversight over the seemingly visible different between the traditional approaches to ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“14 Principles of the Toyota Way (Toyota Production Systems) Thesis”, n.d.)
14 Principles of the Toyota Way (Toyota Production Systems) Thesis. Retrieved from https://studentshare.org/miscellaneous/1556920-14-principles-of-the-toyota-way-toyota-production-systems
(14 Principles of the Toyota Way (Toyota Production Systems) Thesis)
14 Principles of the Toyota Way (Toyota Production Systems) Thesis. https://studentshare.org/miscellaneous/1556920-14-principles-of-the-toyota-way-toyota-production-systems.
“14 Principles of the Toyota Way (Toyota Production Systems) Thesis”, n.d. https://studentshare.org/miscellaneous/1556920-14-principles-of-the-toyota-way-toyota-production-systems.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF 14 Principles of the Toyota Way (Toyota Production Systems)

Toyota

...? (Assignment) Toyota: Current Long-term Objectives The Toyota Motor Corporation (TMC) or simply Toyota is a multinational automaker headquartered at Toyota in Japan. The company was founded by Kiichiro Toyoda on 28th August 1937. By the end of 2010, the Toyota employed 317,734 people globally. The Toyota is the world’s largest automobile manufacturer in terms of sales and production. This paper will discuss the current long term objectives of Toyota Motor Corporation. From the very beginning of its origin, the company’s management philosophy has reflected the concepts of Lean Manufacturing and Just In...
2 Pages(500 words)Essay

The Toyota Production System

...? “The Toyota Production System” 29 June “The Toyota Production System” This paper will review the article “The Toyota Production System” by the Public Affairs Division of the Toyota Motor Corporation (2003). The main issue then is that Toyota needed to become more competitive in producing global cars, but in a more organized manner. As a result, the management developed the TPS or the Toyota Production System. This system aimed to respond to the global demand for quality and...
3 Pages(750 words)Article

Toyota Production System

...?An example of ownership specific advantages is the Toyota Production System (TPS) found in Toyota. TPS embodied management philosophy and practices that included root problem analysis, waste reduction, just-in-time production, continuous improvement, respect and teamwork, developing staff and partners, long-term philosophy even at the expense of short-term financial goals and other factors. TPS formed the “life-blood” or permeated Toyota in a way that competitors could not imitate either locally in Japan or elsewhere – wherever the company moved its production facilities to. In examining location...
3 Pages(750 words)Coursework

Automotive Production Levels - Toyota Motors

...? Automotive Production Levels – Toyota Motors Automotive Production Levels – Toyota Motors The automobile industry has been one of the strongest, most powerful ones in America over the past and has had critical economic impact within the U.S and outside of it. (Berry, Levinsohn and Pakes, 1995). Now this industry has picked up in other parts of the world, especially in Asia. In the first quarter of the fiscal year 2012, Toyota’s sales in number of units were 1,221,374, its consequent sales revenue from the sale of these units was 3,162,347 million yen. In the first quarter of financial year 2013, Toyota’s unit sales had jumped to...
8 Pages(2000 words)Research Paper

Toyota

...with the law and failed to notify the authorities of the technical problem. This led to the failure of Toyota failed in rectifying the manufacturing problem; thus, failed to restore its image as a customer safety oriented company (Rothaermel, 2013). Those held accountable for the crisis was the board for miscommunication and focusing on varying values and goals. The Japanese managers who failed to make quick decisions and confined information to them. However, after the crisis, Toyota initiated an effective way to manage the aftermath. It changed its motto and issued 4 letters to the public apologizing for the problem within a span of one month. These effectively calm the customers down...
3 Pages(750 words)Essay

Toyota

...company into troubles. The US native slogan 'Wake Up America and Buy American'. Challenges the company sales in US market. Toyota, however, has taken great pains to identify itself as an American company by building plants in the south. Toyota had already earned the trust of their existing American customers (Rosen, 2000). Technological Factors Toyota is producing dominant cars from its highly efficient production system led by an efficient assembly line. It has built a reputation for technological leadership as well, most notably with the hybrid and fuel-efficient cars, such as the Corolla and Yaris and gas-electric hybrid Prius, which became big hits...
3 Pages(750 words)Case Study

Toyota

...by the company’s employees. These are, staying faithful to the duties, staying creative and studious, avoiding frivolousness and being practical, having respect for god and being grateful (Toyota. Guiding Principles at Toyota). Toyota is renowned for its efficient and effective production system. The company’s manufacturing system is better known as ‘lean manufacturing system’. The production system of the company is mainly based two major concepts, one is called ‘jidoka’ and the other one is ‘just-in-time’ concept. Proper implementation of the two concepts will ensure...
16 Pages(4000 words)Research Paper

Toyota Production system

...and hence the company deploys the TPS as a tool for meeting customer tastes and preferences. The most fascinating feature of the TPS is that it can accurately identify wastes in production and effectively optimize various scheduling processes. In the view of some experts, the greatest strength of TPS is the way it develops people. Unlike a push system where employees just work according to the instructions they are given, the TPS greatly fosters employee creativity and this situation benefits the company to improve its productivity. In TPS, T stands for ‘Thinking’ as well as ‘Toyota’. The TPS encourages Toyota workers to come up with...
4 Pages(1000 words)Research Paper

Toyota Production System

...Toyota Production System Eight Terms that Apply in the Toyota Production System Kaizen basically refers to the continuous improvement of the whole system through the elimination of waste with due consideration to the minimization of costs. In a car manufacturing company, employees may apply kaizen by coming up with innovative ways of working so that tasks are completed faster than they would through the traditional methods they are used to. Just-in-Time is production or inventory strategy that involves the reduction of in-process inventory and storage costs. Only the right amount of...
3 Pages(750 words)Article

Jit &toyota

...electricians; • provision for advance payment; • the service of test-drive; • cozy cafe and car wash; • childrens corner; • system Trade-in, when the old car is taken to offset the new surcharge. The Toyota Company is characterized with 14 principles of management (Toyota Production System). They are the following: 1. Making management decisions, including the long-term, even if it is detrimental to short-term financial goals. 2. The process as a continuous stream helps to identify problems. 3. Using "pull" scheme to avoid overproduction. Organization of the work of production requires the consumer to...
5 Pages(1250 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Thesis on topic 14 Principles of the Toyota Way (Toyota Production Systems) for FREE!

Contact Us