Toyota's Production System: Members Involved, Impacts, and Importance

Toyota's Production Scheme
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Toyota's Production Scheme
1a) Toyota's Corporation Model
Toyota is a private business model established as a family corporation by Toyoda and his relatives. Kiichiro Toyoda founded Toyota Motor Organization in 1937. The firm is suited to Toyota City in Japan. Research conducted in 2010 indicates that it has a market capitalization totaling up to $138 billion, placed number ten in the Fortune Global 500. The study suggests that, before Toyoda founded the Toyota Motor Firm, he had been denied an opportunity of heading the family's mechanical loom corporation. However, he began a car building site that attracted Eiji Toyoda, one of his cousins who became his partner in the business.
b) Members involved within the TPS and their Impacts
The Toyota company attracted more relatives who joined Eiji and Kiichiro Toyoda in developing the company. The Toyota Production System currently involves a hierarchical management structure, including Fujio Cho, the company's president. The president engages other members of the management in making decisions. Fujio's leadership has led to increased production of Toyota Company in the global market. In 2002, the president declared that by 2010 the Toyota Company should be producing over 15 percent of motor vehicles on the global market. The increase in the company's production corresponded with good quality, which would mean more customers for Toyota motor vehicles. The TPS also consists of management with individuals such as Taiichi Ohno, Eiji Toyoda, and Shigeo Shingo. The team, over the years, has worked to improve the organization's logistics and the firm's produ...