9 Downturn Lessons Toyota Can Teach A Consultant
By alik levin
March 15th, 2009 | Consulting
| Reading Handling a Downturn the Toyota Way got me thinking. How I can apply successful practices and lessons from Toyota to consulting? I found that the lessons are actually very helpful to consultants that struggle recession as anyone else. |
by Shayan (USA) |
| While at first it might look like a losing strategy, I am sure it’ll pay off for the long run. This is my hunch. I also a big believer of modeling the best. Who’s better than Toyota? |
Be Hybrid, Bridge The Worlds
…with gas prices high and the economy slowing, the launch of the new Prius next year and several other gas-sipping hybrids in the next couple of years couldn’t be more timely.
What consultant can learn?
Small But Smart
Toyota will begin selling the iQ ultra-compact car in Japan… Toyota hopes the iQ will create a new demand for attractive, small cars and change the view that smaller cars are low on quality.
What consultant can learn?
Partnership Is King
Toyota will save over $10 billion by working more closely with suppliers earlier in the design of new models.
What consultant can learn?
Feed Your Feeding Hand
Toyota has made over 100 recommendations to five Japanese steelmakers on how they can find savings.
What consultant can learn?
Become Feeding Hand
Toyota’s financing arm (which had nearly $3 billion in cash at the end of June) has money to lend.
What consultant can learn?
Be Adaptable
Toyota opened a large Tundra pickup factory in San Antonio in 2006, just before the market for large trucks lost steam. Now the company is busy reorganizing production.
What consultant can learn?
Make Your Best Even Better
Toyota’s Lexus brand might be the best-selling luxury lineup in North America, but that doesn’t make it recession-proof. Toyota’s response is to add more hybrid Lexus models.
What consultant can learn?
No Cuts
Keeping Full-Time Workers…. Toyota is asking them to keep busy by doing everything from training programs to filling in at assembly lines elsewhere or helping out in local communities.
What consultant can learn?
Recession Does Not Mean No Fun
While sports-car sales are unlikely to surge during a downturn, critics of Toyota complain of a dearth of sporty models… the company plans to roll out a new, rear-wheel-drive sports car in 2011
What consultant can learn?
What downturn lesson can you teach Toyota?
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10 comments ↓
Lets face it, Japan is awesome and they know what they are doing as opposed to the fat cats here in North America.
They put their salaries and bonuses ahead of the business.
Good post and nice take aways.
Being flexible and learning new stuff helps a lot - that is for sure.
tom,
I am nor Japanese neither North American so I will take you word for granted
JD,
Thank you for good words.
My friend has been in Japan and other asian countries and he said that they are so much more efficient, like if the train is late a few seconds, they throw a fit. Talking on a cell phone on the bus is rude.
Look here, you have people talking on their cell phones everywhere and you just want to strangle them for it.
I am honestly interested to hear what you think about Kaizen:
http://practicethis.com/2008/07/26/kaizen-continuous-improvement-the-japanese-way/
You know what, it sounds simple on paper but when I go through the self test I can see I don’t do that well as I first assumed.
I mean sure I cleaned my room this weekend, and its spot clean but how long will it lost?
Sure I paid off my debt but can I stay focused to build my emergency fund and make more income.
What exactly is a life cycle plan?
4 Systematize – Make a schedule for cleaning and for checking that all is in order. This ensures that housekeeping is maintained constantly.
5 Standardize – Make the preceding steps part of a regular process.
This is great
Wonderful lessons we can all learn from. Some of my favorites are “Be Adaptable and Make Your Best Even Better”.
Thank you for this.
Giovanna Garcia
Imperfect Action is better than No Action
Your passion for personal growth inspires me
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