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Transcript of TOYOTA
Maintenance cost THE TOYOTA WAY Q. Using the four dimensions of the 4P’s of Innovation Space Model. Describe Toyota’s product, process and position, and explain how this is linked to innovation? 4P's MODEL 4P's MODEL- PRODUCT The Toyota Prius- 1997 radical incremental 4P's MODEL-PROCESS Toyota Production system Simplified & Slim Production Equipment Radical Incremental 4P's MODEL- POSITION Targeting different customers preferences and budgets from affordable cars to Luxury one. Incremental RED OCEAN There are more then 300 car manufacturers in the world Blue Ocean Model Q. Using the Blue Ocean Analysis, explain how Toyota has become the world’s number 1 car manufacturer. BLUE OCEAN CREATE Fuel economic
Easy maintenance ELIMINATE Easy maintenance Customer experience Fuel economic Appearance Safety Power Top speed Dimension Interior Price Low High BLUE OCEAN Top speed
Interior Easy maintenance Customer experience Fuel economic Appearance Safety Power Top speed Dimension Interior Price BLUE OCEAN RAISE Brand image
Customer service Low High Q. How has Toyota used its own dynamic capabilities to identify, create, leverage and sustain superior enterprise performance? Teece’s Dynamic Capabilities Model Dynamic capabilities can be disaggregated into the capacity
1-To sense and shape opportunities and threats
2- To seize opportunities
3- To maintain competitiveness through enhancing, combining, protecting, and when necessary, reconfiguring the business enterprise’s intangible and tangible assets. Teece, D. J. (2009) Enterprises with strong dynamic capabilities are intensely entrepreneurial. Teece, D. J. (2009) Process Model of Innovation Q. Does Toyota have a clear innovation Strategy? Search & Select Toyota is always at a lookout for new ideas New concept of saving energy=saving money GO Green Save Energy Save Money The ultimate eco car Hybrid Vehicle Plug in hybrid Vehicle Fuel cell vehicle Implement How does toyota make its innovations work? Its new innovations are introduced in the market when they are needed the most The Ultimate Eco car Countries lacking the most dependant energy reserves Plug in Hybrid Vehicle vehicle which charges battery from house hold electricity- Good for countries with CO2 reduction sanctions Capture How does toyota gets the benefits from its innovations? -Savings on energy -Reductions on harmful gaseous emissions -meeting the demands of the daily activities of the individuals -more comfort at low cost -low maintenance costs -Happy customers mean the ‘’greater and improved’’ future innovations. Robot Product Innovation Capability Model Q.What kind of capability did Toyota use to become the world’s largest car company? Toyota has Strategic Capability Toyota's cost control system Separated budgeting system Toyota’s control structure: matrix of vertical job-specific units and horizontal function–specific controls It has three goals Toyota Production System -To provide the customer with the highest quality vehicles -To provide members with work satisfaction -It gives the company flexibility to respond to the market Toyota has creative capability -Concept cars -Partner Robots - Intelligent Transport System -Environmental Technology 1867 1933 1924 INTRODUCTION Birth of Sakichi Toyoda Sakichi Toyoda invents Toyoda Model G Automatic Loom. Automobile Department is established at Toyoda Automatic Loom Works, Ltd. 1936-1938 Toyota's 1st car,the AA Sedan is completed (1936) Toyota Motor Co., Ltd. is established (1937) Koromo Plant (currently Honsha Plant) starts operations (1938) 1966-1989 -Toyota Corolla is Launched (1966) -Business Partnership with Hino Motors Ltd & Daihatsu Motor Co Ltd begins (1967) -Toyota's production starts in USA (1988) -The LEXUS brand is launched in USA (1989) 1992-2011 -Toyota Motor Manufacturing (United Kingdom) Ltd. begins production (1992) -The Prius is launched as the world's first mass-produced hybrid car (1997) -Sichuan Toyota Motor Co., Ltd. begins production in China. (2000) -The Toyota Partner Robot is publicly unveiled(2004) -Worldwide Hybrid Vehicle sales top 3 Million mark(2011) QUESTIONS??? -cost control through efficiency -TOYOTA production system produce high quality High market share