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Toyota Overhauls Its R&D Efforts
Keywords:
Tags: Current Focus, Automobiles, Japan,
Toyota's changes in its global architecture in 2011-2013. Reorganization to build amore tight knit management structure for better responsiveness and decisionmaking. The focus is on getting rid of bureaucracy after years of growth that led to excessive and sometimes indirect reporting layers. For instance, chief engineers now report directly to top product planning executives to speed decisionmaking and make new product introductions faster. Regional managers are now shrunk to three groups: North America and China; Japan and Europe; Australia, Russia and emerging markets. It is interesting to note that China and the U.S. are put together- the logic is based on the idea that the buyers in each group tend to have similiar buyer behaviour for vehicles, say Toyota managers. Another significant effort focusses on increasing the use of standardized parts to 50% for vehicles that are of similiar size. The Prius C, the redesigned Camry and the Etios subcompact in India, were cited recently by CEO Akio Toyoda as examples of products that have utilized these changes in methods and approach.
Toyota's new management structure and speeded up decisionmaking under CEO Akio Toyoda
04/10/2012
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Toyota's new priorities and strategy under Akio Toyoda.
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The grandson of founder Kiichiro Toyoda takes charge after the global economic crisis of 2008-2009. Toyota enters a new period with different priorities.
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Toyota's International Multipurpose Vehicles (IMV) series
04/07/2012
Production capacity is over 1 million vehicles for the IMV series designed on a single platform for emerging markets to serve minivan, SUV and other needs. Toyota is the first company to do so. The IMV series represents 10% of Toyota sales. Toyota's goal is to secure 50% of its sales from emerging markets, up from 40% today, and the IMV series is part of the strategy to reach that goal. Toyota is moving more of the design development and manufacturing to emerging markets so that the vehicles can be made to suit local conditions and protect against currency fluctuations for the yen.
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Toyota Overhauls Its R&D Efforts
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Toyota under Akio Toyoda, Shoichiro Toyoda's son, and grandson of the founder Kiichiro Toyoda.
05/12/2005
Akio Toyoda becomes CEO of Toyota in 2009, with the support of Shoichiro Toyoda, his father. He spent some years in the American operations, has overseas experience, and got his MBA from Babson College in Massachusetts. Because of tis he brings an outward looking approach to Toyota. By August 2009 about 40% of the senior management hat Toyota had retired or moved to new positions. Toyota suffered a loss of $819 million in the 2nd quarter 2009 with net sales revenue down sharply by 38% over prior year's same quarter. In the last years of the previous CEO Watanabe, Shoichiro had expressed concerns about the complacency at the company. See the links to this including Shoichiro's concern for higher costs, lower quality, and complacency in management.
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Weakening Yen Helps Toyota Double Its Quarterly Profit
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Toyota Management
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Toyota Names First Foreigner to Board
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Toyota's global architecture, reshaped R&D, and efforts to increase standardized parts in 2012-2014
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Reorganization and other efforts at Toyota to recover from the crises of recent years and regain leadership in the auto industry. The response and efforts at Toyota will affect competitors in the U.S. and emerging markets.
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Toyota's strategies in the hybrid, electric, and high fuel efficiency automobile market.
05/18/2005
Toyota's strategy is to license its technology for hybrids, and it has meticulouslp filed patents for moore than 2000 components in the Prius hybrid.
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Toyota Debuts New Compact Hybrid Aqua
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Toyota Says It Plans Eventually to Offer an All-Hybrid Fleet
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Toyota, Honda, and Nissan after the 2011 earthquake and tsunami in Japan
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Parts Shortage Forces Toyota to Cut Production
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Toyota Says No Full Production Until Yearâs End
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Wall Street Journal 04/23/2011
Toyota Panel makes its recommendations for changes in global management structures
03/01/2010
Reforms and restructuring after the 2010 recalls. The Toyota panel said there needs to be one executive responsible for the entire U.S. operation. Before the crisis in vehicle safety Toyota had separate engineering, sales and production operations, but no head of the entire U.S. operation. Honda and Nissan have a head of U.S. operations. Another problem the panel sees is the insularity of the Japanese headquarters management. It recommends foreign directors be appointed to the board. Even after the safety crisis and a change in management structure to a smaller board, the lack of foreign directors remains a serious unaddressed problem.
Grouped Articles
The 40-Year Club: America's Longest-Serving Directors
Wall Street Journal 07/16/2013
Detroit News 03/01/2010
Toyoda Rues Excessive Profit Focus
Wall Street Journal 03/02/2010
Toyota Director Aims to Speed Up Decision Making
Wall Street Journal 07/23/2013
Inside Toyota, Executives Trade Blame Over Debacle
Wall Street Journal 04/13/2010
Toyota Opts to Diversify Senior Posts
Wall Street Journal 03/05/2015
Changes in Toyota's global architecture, management structures and culture under Akio Toyoda
06/02/2010
Linked Articles
Toyota Overhauls Its R&D Efforts
Wall Street Journal 04/10/2012
New York Times 06/02/2010
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