How Toyota Captured The #1 Market Share . . . Through Solid DecisionMaking!
How Toyota Captured the #1 Market Share . . . Through Solid Decision-Making!
Toyota is arguably one of the most recognizable brand names in the world. Toyota captured the Number 1 spot in automotive sales, by creating high standards for quality, reliability and customer acceptance.
In short, the name Toyota has become synonymous with the standard of excellence to which many aspire.
Reaching this standard didn’t happen by accident. It was accomplished by having a consistent and effective decision-making process at every stage of their marketing and product delivery process.
Toyota recently launched a marketing campaign appealing to buyers’ personal aspirations. The previous campaign, Get the Feeling gives way to Moving Forward, a series of ads proclaiming Toyota vehicles will be there as drivers hit milestones in life. The company felt they needed a change because customer mind-sets have changed, and their business needed to follow the market.
This shift in direction came about because their marketing strategy was able to identify the strategic keys to the company’s future growth and make customer centric decisions. While Toyota may not have used the exact process we are recommending, it is clear by looking at their strategy, they used a concise decision making process.
Seven Keys to Optimal Decision-Making
In the long range goal to achieve a solid market presence, all people in key positions can achieve incredible levels of effectiveness by acting purposefully - by knowing what has to be done - and in getting work done as efficiently and expediently as possible.
Management in most all businesses, lament they have no time to do what they feel they need to do. For example, there are too many emails, priorities that seem to change daily, nano-second reaction to last minute requests, dealing with politics, and much, much more. Guess what? It’s not going away. No silver bullets. No magic spells. This is what you have. Get over it.
We are going to describe what you can to do to get your arms around making decisions that obtain optimal results.
Question. Are you certain your decisions will successfully accomplish your vision in the shortest amount of time?
Here are seven key elements that will give clarity to the many decisions you will want to make, for an effective business growth strategy to emerge.
Rule #1: Define the over all purpose in specific - not conceptual - terms. Why It Is Important:To prevent decision overlap. Ramifications if You Don’t: You can’t measure progress or verify when progress is being made. How To Do It: Develop measurable results in time, dollars and numbers.
Rule #2: Determine specific discussion topics. Why It Is Important:Be certain the decisions made in the session are grounded in reality and moves you toward your long-term purpose. Ramifications if You Don’t: You can go down a wrong path and waste everyone’s time. How To Do It:Determine that each discussion session has clear identifiable expectations.
Rule #3: Identify subjects NOT related to specific discussion topic. Why It Is Important:It keeps the discussion focused on the specific topic. Ramifications if You Don’t:Time and energy is wasted on unrelated issues and are possible landmines upsetting the specific outcome of the session. How To Do It:Prior to meeting, identify important issues and non-issues relating specifically to the topic.
Rule #4: Use permission meter. Why It Is Important:Encourages participants to challenge assumptions, resulting in bold fresh new ideas. Ramifications if You Don’t:Participants are analyzed - not ideas. How To Do It:Establish a new dynamic style of thinking on a 1 - 10 scale from brainstorming to analytical to planning styles.
Rule #5 Invite only essential personnel in strategy discussions. Why It Is Important: Gets issues on the table fast and encourages the cross-functional teams to find solutions at the outset. Ramifications if You Don’t:Avoids silo decision-making as well as loading the session with non-essential personnel. How To Do It:Know how the company works and who is responsible for what.
Rule #6: Compile Background Information. Why It Is Important:Gets all participants on the same page without using valuable meeting time. Ramifications if You Don’t:The stated purpose is not fulfilled because time is wasted bringing everyone up to speed. How To Do It:Before meeting, distribute background information necessary to move discussion forward with velocity.
Rule #7: Develop a well thought-out communication plan. Why It Is Important:It ensures all essential personnel have the information they need to be successful. Ramifications if You Don’t:All personnel not properly informed will not be in sync with the original decisions. How To Do It:Determine what specific messages are delivered to whom; who needs to know; who will tell them; how they will be told; and by when.
Take a careful look at how your company is making decisions!
When effective decision-making flourishes you get on track towards successfully and effectively achieving your company’s vision.
In conclusion, if you follow these 7 golden rules, you will achieve success in ways you never dreamed possible. The key is to instill a reliable and consistent corporate decision-making process to get results like Toyota.
Marney Kaye is a Business Growth Specialist and provides a systematic, step-by-step process designed to develop growth strategies leading clients to take their rightful place in a dynamic and demanding marketplace. Clients who have shown interest in this process include marketers, analysts, heads of start-ups, management consultants, researchers, VCs, journalists, business development directors, trend watchers, and anyone else interested in staying on top of optimal decision-making. With offices outside Toronto, ON and Orlando, FL, Ms. Kaye can be reached at 905-873-6240 or 321-214-9231 http://www.busgrowth.com; mkaye@busgrowth.com
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