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Toyota’s Basic Management Policy

I was looking for some annual financial numbers for Toyota, for comparison to Ford and GM (Toyota’s annual profit is more than the “Big 3” combined). More interesting was this statement in Toyota’s most recent annual report. If you want to understand Toyota’s purpose, it’s good reading. It might sound hokey, but they do seem to have a greater society purpose in mind than solely producing profits. Profits are important, in that they benefit society, create jobs, and reward investors, but that’s not the sole purpose.

1. Toyota’s Basic Management Policy
Toyota Motor Corporation (“TMC”) holds up the “Guiding Principles at Toyota Motor Corporation” as its basic management policy and believes that efforts to achieve the goals set forth in the principles will lead to an increase in shareholder value. The “Guiding Principles at Toyota Motor Corporation” are as follows:
(1) Honor the language and spirit of the law of every nation and undertake open and fair corporate activities to be a good corporate citizen of the world.
(2) Respect the culture and customs of every nation and contribute to economic and social development through corporate activities in the communities.
(3) Dedicate ourselves to providing clean and safe products and to enhancing the quality of life everywhere through all our activities.
(4) Create and develop advanced technologies and provide outstanding products and services that fulfill the needs of customers worldwide.
(5) Foster a corporate culture that enhances individual creativity and teamwork value, while honoring mutual trust and respect between labor and management.
(6) Pursue growth in harmony with the global community through innovative management.
(7) Work with business partners in research and creation to achieve stable, long-term growth and mutual benefits, while keeping ourselves open to new partnerships.

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Mark Graban's passion is creating a better, safer, more cost effective healthcare system for patients and better workplaces for all. Mark is a consultant, author, and speaker in the "Lean healthcare" methodology. He is author of the Shingo Award-winning books Lean Hospitals and Healthcare Kaizen, as well as The Executive Guide to Healthcare Kaizen. His most recent project is an book titled Practicing Lean that benefits the Louise H. Batz Patient Safety Foundation, where Mark is a board member. Mark is also the VP of Improvement & Innovation Services for the technology company KaiNexus.

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