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Management Practises of Toyota and Its Sustained Growth

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Management Practises of Toyota and Its Sustained Growth
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MANAGEMENT PRACTICES OF TOYOTA CORPORATION AND ITS SUSTAINED GROWTH

SUBJECT: MANAGEMENT 3600
SUBMITTED TO: PROF.RAMA RAO

Presented by: Nikita tatiwar v (09128) Ranjith kumar p(09137) Shashank a(09144) Swetha jakka(09151) Prateeka p(09159)

Since Toyota’s founding we have adhered to the core principle of contributing to society through the practice of manufacturing high-quality products and services. Our business practices and activities based on this core principle created values, beliefs and business methods that over the years have become a source of competitive advantage. These are the managerial values and business methods that are known collectively as the Toyota Way.

—Fujio Cho, President Toyota
(From the Toyota Way document, 2001)

CONTENTS

CONTENTS 3 ABSTRACT 3 INTRODUCTION 5 TOYOTA’S MISSION AND VISION 6 TOYOTA’S PHILOSOPHY 7 GUIDING PRINCIPLS OF TOYOTA 8 FIVE MAIN PRINCIPLES OF TOYOTA 8 THE 14 MANAGEMENT PRINCIPLES OF TOYOTA OR THE TOYOTA WAY 9 MANAGEMENT PRACTISES OF TOYOTA 14 Knowledge management: 14 Lean management: 15 Environmental management: 15 THE TOYOTA PRODUCTION SYSTEMS (TPS) OR LEAN PRODUCTION 16 BENEFITS OF LEAN PRODUCTION: 18 TOYOTA AND ITS SUSTAINED GROWTH: 18 CONCLUSION
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