REWIRING OLD BUSINESS – CORPORATE VALUE CREATION AT THE HEADQUARTERS OF TOYOTA MOTOR CORPORATION

Cristian Vlad, Luiza Gatan, Fumiaki Tajiri and Toru Takahashi

Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE, 2019, vol. 13, issue 1, 310-316

Abstract: One of the world’s largest automotive manufacturers, Toyota Motor Corporation (hereinafter TMC) was starting in 2008 a new journey in innovation, in terms of product, talent and communications through the inauguration of its Corporate Value Development Project (hereinafter CVD). At the dawn of rapid global digitalization and enhanced globalization, CVD was charged by the board of directions with the mission of creating new and meaningful value for the organization to thrive over the next decades. Yet, as of 2008, only 0.2% of TMC’s total full time employee population was non Japanese and were hired mainly for communication purposes such as translations, interpretations, coordination with overseas subsidiaries, distributors and regional headquarters. The TMC Technical Center, the global hub of research and development for the organization, was employing only one non-Japanese director as of January 2008. This paper unveils the process of organizational transformation which TMC embarked on and monitors the change in corporate culture and employee mindset that the business went through from January 2008 until the end of the year. It aims to illustrate the impact of the Corporate Value development initiatives on product development, internal and external communications and corporate culture.

Keywords: creativity; collaboration; corporate; innovation; talent; Toyota; value. (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:rom:mancon:v:13:y:2019:i:1:p:310-316

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