{"id":758,"date":"2007-08-20T01:00:16","date_gmt":"2007-08-20T09:00:16","guid":{"rendered":"https:\/\/systematichr.com\/?p=758"},"modified":"2007-08-20T01:00:16","modified_gmt":"2007-08-20T09:00:16","slug":"the-toyota-way-principle-1","status":"publish","type":"post","link":"https:\/\/systematichr.com\/?p=758","title":{"rendered":"The Toyota Way:  Principle 1"},"content":{"rendered":"<blockquote><p>Base your management decisions on a long-term philosophy, even at the expense of the short term financial goals.<\/p><\/blockquote>\n<p>Basically this is a lesson not in profits, but in behavior.\u00a0 It is the \u201cdo the right thing\u201d lesson, but in Toyota language, that translates into actual actions, not just words.\u00a0 One of the lessons my first manager taught me right out of college (and it stuck) was that there is right and wrong, and perhaps a little less gray than most of us would like to believe.\u00a0 Doing the right thing for employees, customers and even society as a whole will win you business in the future.<\/p>\n<p>The author of \u201cThe Toyota Way\u201d states that in the ever increasing expansion of capitalism and consumerism, we have the overly optimistic hope that if we do what is best for ourselves in the short term, that supply and demand will create innovation in the long tern.\u00a0 However, he presents concrete examples how Toyota outperformed competitors by doing the right thing even when profits were at stake, and even taking losses at times.\u00a0 ((Liker, Jeffrey.\u00a0 2004.\u00a0 \u201cThe Toyota Way.\u201d\u00a0 McGraw-Hill, Madison, WI.\u00a0 Pages 71-84.))<\/p>\n<p>There are many organizations and stock funds that track performance by organizational commitment to social standards whether it be environmental, human rights, charitable giving or other measures.\u00a0 It has never surprised me that these funds always seem to outperform the market.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Base your management decisions on a long-term philosophy, even at the expense of the short term financial goals. Basically this is a lesson not in profits, but in behavior.\u00a0 It is the \u201cdo the right thing\u201d lesson, but in Toyota&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","footnotes":""},"categories":[33,8],"tags":[],"class_list":["post-758","post","type-post","status-publish","format-standard","hentry","category-finance","category-strategies"],"_links":{"self":[{"href":"https:\/\/systematichr.com\/index.php?rest_route=\/wp\/v2\/posts\/758","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/systematichr.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/systematichr.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/systematichr.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/systematichr.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=758"}],"version-history":[{"count":0,"href":"https:\/\/systematichr.com\/index.php?rest_route=\/wp\/v2\/posts\/758\/revisions"}],"wp:attachment":[{"href":"https:\/\/systematichr.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/systematichr.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/systematichr.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}