What is The Toyota Way about? What are the main takeaways from the book? In his book The Toyota Way, Jeffrey Liker describes how workers at Toyota problem-solve on the spot and ruthlessly eliminate waste. He also explains how the company supports them by offering job security and constant on-the-job challenges. Keep reading for a brief overview of Liker’s book The Toyota Way.
Are your employees clear about the ethical expectations at your company? Are you consistently upholding behavior boundaries? CEO and venture capitalist Ben Horowitz draws on historical examples to show how you can provide cultural leadership in your organization. For lessons on ethical workplace behavior, Horowitz looks to Haitian revolutionary Toussaint Louverture, who shows us that we must not leave ethical gray areas. Keep reading to learn more about shaping ethical workplace behavior.
What does “kaizen” mean? Why is it one of the pillars of the Toyota Way? In The Toyota Way, kaizen is described as continuous improvement. Author Jeffrey Liker says kaizen improves Toyota’s operations at both the modeling stage and the implementation stage. Here’s more on the concept of kaizen in The Toyota Way.
What is a tactical business plan? How can a tactical plan help you turn your business goals into reality? Identifying your business goals is important, but it doesn’t mean anything if you don’t have a plan to execute those goals. In their book Execution, business leaders Larry Bossidy and Ram Charan teach you how to make a tactical plan to bring your business goals to fruition. Here’s how to create a tactical business plan.
What is multiple segmentation? How does splitting your target market increase growth in business? Market segmentation is when you divide your target market into multiple segments with a different product or message. In The Marketing Plan, William M. Luther encourages multiple segmentation because it offsets market decline. Here’s a more in-depth explanation of why Luther is in favor of multiple segmentation.
When hiring, do you look for particular people or particular skills? When leading, do you give everyone a chance to thrive? In What You Do Is Who You Are, Ben Horowitz looks to Genghis Khan for lessons on cultivating intentional culture. He identifies three tips for how to create an inclusive culture: take the lead, look for specific skills rather than specific people, and give everyone the opportunity to succeed. Keep reading for three ways to create an inclusive culture in the workplace.
Why should companies be owned by their employees? Will employee ownership work for any business? In her book Doughnut Economics, Kate Raworth champions more collective forms of corporate governance, such as cooperatives and employee-owned enterprises. She argues that to deny workers an equity stake in the company to which they provide their valuable labor is to deprive them of what is rightfully theirs. Here’s why employee ownership is the way to go.
What is William M. Luther’s book The Marketing Plan about? What should you take away from the book? In The Marketing Plan, management and marketing expert William M. Luther outlines the variables that impact both the immediate and long-term success of your product or service. He encourages analyzing how these variables impact your business so that you can develop an effective business plan. Read on for a brief overview of The Marketing Plan.
What is Toyota’s company history? How did lean manufacturing become popular? In The Toyota Way, Jeffrey Liker recounts Toyota’s history as a car manufacturing company. He explains the beginning of the Toyota Production System, better known as lean manufacturing. Continue reading to learn more about the history of Toyota.
Do people in your organization feel free to air their concerns? Do they trust each other? In What You Do Is Who You Are, Ben Horowitz draws lessons from samurai warriors on how to develop your organizational virtues. While he believes that you should choose virtues that are customized to your company, he argues that all organizations should have these three virtues: trust, freedom to speak freely, and loyalty. Here are the details on these three essential company virtues.