Hello, thanks for joining us today in today’s video. I want to do a book review about one of my favorite books. It’s called the Toyota way 14 management principles from the world’s most significant manufacturer. Now I’m a real petrol head. I love cars and all different types of cars, sports cars four-by-fours. You know estate cars all different types of cars.
I’m a real petrol head, and over the years, I’ve owned about 30 cars.
In about 15 years and mm-hmm, what am I what but two favorite manufacturers are BMW really from the 1980s and 1990s?
I’m not so keen on modern stuff, and Toyotas is there with one of my favorite manufacturers simply because of their reliability. From the 80s and 90s, I love the better look of Toyotas, so why, but why would talk? Why don’t I talk about this book?
What initially got me interested in this book was that I was looking for cars on you know me into, and I was speaking with friends, and I thought, what is it about Toyota but makes them so much more reliable than other cars so.
For example, you know a Toyota Corolla would probably be more reliable than all choices, and that’s not hyperbole where you can get a two thousand pound Toyota Corolla. It will be more reliable than a Volvo’s phantom, which costs more than two hundred fifty thousand, and I think that’s disgraceful. Still, it’s a reality, so I was thinking about a toy to make some the world’s number one manufacturer.
So I thought, let’s Pete, let’s read this book, and let’s find out you know what it is which makes them such a good kind of manufacturer. So basically, this book is broken down into three parts, looking at the 14 principles of the Toyota management system. So what I want to do now is just basically, first of all, briefly read through the chapters, and then I want to discuss in a bit more depth a couple of the chapters or a couple of segments from which I think the real interesting. All of it’s interesting but just maybe two parts, okay.
So part one chapter one but world-class power of the Toyota way using operational excellence as a strategic weapon.
Chapter two how Toyota became the world’s best manufacturer the story of the Toyota family and the Toyota Production System.
It came as a surprise to me when I read this book that originally Toyota started as a sewing machine making sewing machines, and then they later went on to make cars, but I found that quite interesting.
chapter 3 the heart of the Toyota Production system eliminating waste
but I want to talk about today chapter 4, the 14 principles of the Toyota way, an executive summary of the culture behind TPS
Chapter 5 the Toyota way in action but no compromises development of Lexus. Now the Lexus was a kind of another band made by Toyota in the 1980s. What Toyota did was they set out to compete with Mercedes and BMW because BMW and Mercedes were had a large well they pretty much for market owners.
They had a significant market share ownership of the luxury car market.
Especially you know in America and Europe, so Toyota wanted to build a car that would compete with those two manufacturers. Without going on enough discourse about Mercedes, he was fighting the other car manufacturers, and they got Mercedes.
Mercedes into gear to produce the w140 S-class Mercedes, and they can’t spend lots of money on that car, and it’s considered one of the best-built Mercedes ever.
Lexus increased to the level with the level of standard equipment, which was often double the car’s worth okay, so that was where was that okay.
Yes, about was of a developer Chuck Bass chapter 5 chapter 6 the toy to wane action new century new fuel new design processes the Prius emotive Prius before can’t believe that he came out in 1997 originally.
So this chapter talks about the thinking behind making the Toyota Prius and what toy to have to do to make that into a reality now as you know when you think of hybrid cards that the Toyota Prius is synonymous with hybrid cars. They really kind of where the market leaders and.
I suppose they are the market leaders in making hybrid cars, and I believe BMW wants to team up with Toyota using the hybrid engine, so if they were head of the time in terms of thinking innovatively.
Okay, part two, so the principal the business principles of the Toyota Way section one long term philosophy.
So chapter 7 misses principle one base your management decisions on a long term philosophy even at the expense of specific short term financial goals. This is excellent thinking because they’re talking about basically if you have to make a sacrifice financially in the short term if it’s going to contribute to the long-term vision long-term goals being fulfilled.
It’s worth doing, and I think this also reminds me of a quote by a guy called Brian Tracy who says was it the fewer the Futurity of decisions is the key to measuring the value so in other words, what action you do now what impact will it have on your future and that kind of blinks in very nicely to this thinking long-term.
Chapter 8 principle to create continuous process flow to bring problems to the surface principle three use a pull system to avoid overproduction so tighter they really kind of use something called just-in-time production.
I’ve been having warehouses full of stock like the American car manufacturers did at the time, produce only what is needed and getting the parts just in time to eliminate waste and is more cost-efficient principle four-level out the workload.
Principle five builds a culture of stopping to fix problems to get quality right the first time.
Principle Six is about standardizing tasks of a foundation for continuous improvement and employee empowerment.
So that’s what I was talking about is where kind of systems are standardized, it makes gets rid of ambiguity. Then employees are particular about the tasks we have to do because it’s standardized across the organization.
It’s a great chapter on well if principle seven use visual control – so no problems are hidden.
Principle eight uses only reliable, thoroughly tested technology first serves your people and processes okay so when we go into.
Principle nine what section three add value to the organization by developing your people and partners principle nine grow leaders who firmly understand the work live with philosophy and teach it to others.
So I must learn to teach when I went into a couple of years ago, I went into victory two car dealership I was inquiring about the car and are speaking to be to a salesman. I knew more about the car than he did.
So well this is not good is it you know if I know more as an as a potential customer than the people the salesperson if you if you’re watching missing your toy to the employee you work there read this book.
For goodness sakes, before you start working with files manage of it, read this book before you step forward for your dealership when he kind of really understands the philosophy behind what makes toys tick right.
So, where are we up to now? Yeah, principle 10 develops exceptional people and teams who follow your company’s philosophy.
Principle 11 respect your extended network of partners and supplies by challenging them and helping them to improve.
Okay, so the next one is chapter 18, principle 12. Go and see it for yourself to fully understand the situation now you may have seen a program called Undercover Boss, and this is kind of highlights this point here where because usually at the end of a show, the boss goes undercover as an employee in his company to see what it’s like on the shop floor.
And usually, nine times out of ten, by the end of a program, he can empathize and better relate to his employees because he sees what it’s like on the shop floor seeing the day-to-day problems with difficulties.
Because I think that’s important because it’s one thing to say to employees, let’s do this, but if you don’t see it for yourself, you can’t understand, so that’s an advantageous chapter.
Principle 13th makes decisions slowly by consensus, fully considering all options and then implement decisions not believe, so that’s good in terms of thinking about if you’re making a decision.
The way Apple went for the pros and the cons. You may have seen something like a SWOT analysis.
We put the strengths, weaknesses, opportunities, and France, and basically, you make it take your time to do your due diligence, and then once you come to a decision, implement it quickly.
So I like for thinking their principle 14 become a learning organization through relentless reflection and continuous improvements or to talk a bit of this later on.
Then basically but the last chapter our free last section is talking about how batoid away implemented in the workplace.
Okay, so let’s have a look, so here it talks about it gives it to show you you can pause it and so that is talking but figure three point one is.
I am looking to make a truck chassis and identify all the processes involved in making a tracksuit, the truck chassis, and identifying the three processes where value is added.
So, for example, I’ll read it to you here, positioning the component on this chassis butts value-added, placing four bolts in the components value-added, and then tightening the bolts to the chassis with the power tool, so it a for quite a few steps.
Fan identifies the exact points where value is added, so I think that’s important because if you like.
For example, say your student, and you vent you’ve watched one of my videos about revision techniques by stopping to think either stopping to identify what the problem is and then identify what you have been doing in your revision will help you to realize then will help you to realize what tasks you need to do more of and what tasks you make me do less of.
So, for example, say you’re reading for two hours a night cover to cover your book, but it’s not getting you anywhere, so you need to stop and think like this it’s not kind of really giving me that much information.
I might get a couple of snippets of helpful information by the end of at night, but what would be more effective would be to revise.
Do an exam of the time conditions, identify what but where the gaps in knowledge are and fill those gaps.
So you’re reading selectively with a purpose that would be value-added, so it’s talking about efficiency and identifying where the actions add the most value. So exciting chapter there, and where’s your butt chopped, YUM.
This my favorite chapters, chapter 20, principle 14, become a becoming organization through relentless reflection and continuous improvements.
Now I think this is good because if you bought one of my other videos about critical thinking, the only way we can improve is to kind of think about what we’ve done and how we can improve and but chapter there are talks about the importance of that learning from our mistakes and you know figuring out new strategies which we can use to improve the process of making things more efficient.
And better now this book I highly recommend you read if you would like to purchase it please click on the description there’s a link in there which will take you straight to the website we can buy this book I highly recommend you have a read of this book.
I even used it when I did my post country to talk about working philosophy, and my teacher found it fascinating.
As well as I lent him his copy, so click on the link below, and you know you can get a copy until next time. Take care, and we’ll speak soon. Bye-bye