This solid read is one no Toyota lover should miss, much more fail to share with anyone in the auto realm, client or employee alike: It offers a rich plethora of insightful information, backed by proven strategy, and updated data with real-life analysis. The organizational culture of Toyota, stemmed more than seven decades ago, continues to impress many. And this is a book that primarily talks about Toyota’s current challenges, even in the midst of the current financial and oil crises occurring in many markets across the world today, and is an invaluable addition to the greater Toyota Way Series as a whole.
Toyota Under Fire: Lessons for Turning Crisis Into Opportunity
“Toyota Under Fire: Lessons for Turning Crisis Into Opportunity” contains five solid chapters, entitled as follows:
1. Chapter One – The Most Admired Company in the World
2. Chapter Two – The Oil Crisis and the Great Recession
3. Chapter Three – The Recall Crisis
4. Chapter Four – Response and the Road to Recovery
5. Chapter Five – Lessons
Prior to Chapter One, there’s also a “Foreword” included, by none other than Thunderbird School of Global Management’s President and CEO, Angel Cabrera. In addition, a “Preface” and “Acknowledgements” follow. These set the stage for all the wonderful body content to follow.
Toyota’s Reputation Amidst the Inside Investigation and Recall Recession – And Much More!
“Toyota Under Fire: Lessons for Turning Crisis Into Opportunity” also looks at the past Great Recession, as well as numerous recall scandals across varying auto. suppliers, and gleams numerous key points that anyone can take home from them. In fact, the book claims that any negative experiences of the past, be they significant or minimal, serve as ideal breeding ground for lessons learned. We can always learn something new from even the most drastic mistakes, and that is what the book is all about — purchase it online today.
The book also touches upon the findings of Timothy N. Ogden and his personal conclusions following the inside investigation that took place regarding the 2009-2010 recession recalls and Toyota’s stance in the midst of it. More so, he reveals that the company did — in fact — drop its guard significantly, at certain points, which he ascertains as perhaps the main cause of the challenges faced afterward following the lack of company-standard morale. But there’s much more.
The Book’s Three Core Lessons – A Summarized Review
The three main lessons found within the book, as summarized, follow:
- Crisis response needs to always begin through properly building a strong culture plenty of time before a crisis has a chance to hit — get a solid foundation underway, the “emergency groundwork” set for all that is to follow.
- Culture, in the end, is what matters most — even much more than the decisions often made by top executives.
- Investing in people, even when in the trenches of a major recession, will always yield the surest path to attaining long-term profitability.