The Elegant Solution: Toyota's Formula for Mastering Innovation

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Published on ● Video Link: https://www.youtube.com/watch?v=z8wcRDqtyRs


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ONE MILLION. That is the number of ideas Toyota implements each year, and those ideas come from every level in the organization, creating an engine of innovation, which is the greatest source of their competitive advantage. Perhaps this is why Toyota is one of the worldΓÇÖs ten most profitable companies, with a market value of 150 billion plus, more than GM, Ford, Honda, and Volkswagen combined. ToyotaΓÇÖs formula for the ΓÇ£elegant solutionΓÇ¥ is driven by three principles: Ingenuity in Craft, Pursuit of Perfection, Fit with Society and driven by ten clear foundational practices. It is a clear plan that can be implemented at any level of a company.



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