How Toyota Captured the #1 Market Share . . . Through SolidDecision-Making!
Toyota is arguably one of the most recognizable brand names inthe world. Toyota captured the Number 1 spot in automotivesales, by creating high standards for quality, reliability andcustomer acceptance.
In short, the name Toyota has become synonymous with thestandard of excellence to which many aspire.
Reaching this standard didn’t happen by accident. It wasaccomplished by having a consistent and effectivedecision-making process at every stage of their marketing andproduct delivery process.
Toyota recently launched a marketing campaign appealing tobuyers’ personal aspirations. The previous campaign, “Get theFeeling” gives way to “Moving Forward”, a series of adsproclaiming Toyota vehicles will be there as drivers hitmilestones in life. The company felt they needed a changebecause customer mind-sets have changed, and their businessneeded to follow the market.
This shift in direction came about because their marketingstrategy was able to identify the strategic keys to thecompany’s future growth and make customer centric decisions.While Toyota may not have used the exact process we arerecommending, it is clear by looking at their strategy, theyused a concise decision making process.
Seven Keys to Optimal Decision-Making
In the long range goal to achieve a solid market presence, allpeople in key positions can achieve incredible levels ofeffectiveness by acting purposefully – by knowing what has to bedone – and in getting work done as efficiently and expedientlyas possible.
Management in most all businesses, lament they have no time todo what they feel they need to do. For example, there are toomany emails, priorities that seem to change daily, nano-secondreaction to last minute requests, dealing with politics, andmuch, much more. Guess what? It’s not going away. No silverbullets. No magic spells. This is what you have. Get over it.
We are going to describe what you can to do to get your armsaround making decisions that obtain optimal results.
Question. Are you certain your decisions will successfullyaccomplish your vision in the shortest amount of time?
Here are seven key elements that will give clarity to the manydecisions you will want to make, for an effective businessgrowth strategy to emerge.
Rule #1: Define the over all purpose in specific – notconceptual – terms. Why It Is Important:To prevent decisionoverlap. Ramifications if You Don’t: You can’t measure progressor verify when progress is being made. How To Do It: Developmeasurable results in time, dollars and numbers.
Rule #2: Determine specific discussion topics. Why It IsImportant:Be certain the decisions made in the session aregrounded in reality and moves you toward your long-term purpose.Ramifications if You Don’t: You can go down a wrong path andwaste everyone’s time. How To Do It:Determine that eachdiscussion session has clear identifiable expectations.
Rule #3: Identify subjects NOT related to specific discussiontopic. Why It Is Important:It keeps the discussion focused onthe specific topic. Ramifications if You Don’t:Time and energyis wasted on unrelated issues and are possible landminesupsetting the specific outcome of the session. How To DoIt:Prior to meeting, identify important issues and non-issuesrelating specifically to the topic.
Rule #4: Use permission meter. Why It Is Important:Encouragesparticipants to challenge assumptions, resulting in bold freshnew ideas. Ramifications if You Don’t:Participants are analyzed- not ideas. How To Do It:Establish a new dynamic style ofthinking on a 1 – 10 scale from brainstorming to analytical toplanning styles.
Rule #5 Invite only essential personnel in strategy discussions.Why It Is Important: Gets issues on the table fast andencourages the cross-functional teams to find solutions at theoutset. Ramifications if You Don’t:Avoids “silo” decision-makingas well as loading the session with non-essential personnel. HowTo Do It:Know how the company works and who is responsible forwhat.
Rule #6: Compile Background Information. Why It IsImportant:Gets all participants on the same page without usingvaluable meeting time. Ramifications if You Don’t:The statedpurpose is not fulfilled because time is wasted bringingeveryone up to speed. How To Do It:Before meeting, distributebackground information necessary to move discussion forward withvelocity.
Rule #7: Develop a well thought-out communication plan. Why ItIs Important:It ensures all essential personnel have theinformation they need to be successful. Ramifications if YouDon’t:All personnel not properly informed will not be in syncwith the original decisions. How To Do It:Determine whatspecific messages are delivered to whom; who needs to know; whowill 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 tracktowards successfully and effectively achieving your company’svision.
In conclusion, if you follow these 7 golden rules, you willachieve success in ways you never dreamed possible. The key isto instill a reliable and consistent corporate decision-makingprocess to get results like Toyota.
Marney Kaye is a Business Growth Specialist and provides asystematic, step-by-step process designed to develop growthstrategies leading clients to take their rightful place in adynamic and demanding marketplace. Clients who have showninterest in this process include marketers, analysts, heads ofstart-ups, management consultants, researchers, VCs,journalists, business development directors, trend watchers, andanyone else interested in staying on top of optimaldecision-making. With offices outside Toronto, ON and Orlando,FL, Ms. Kaye can be reached at 905-873-6240 or 321-214-9231www.busgrowth.com; mkaye@busgrowth.com
About the author:Marney Kaye is a Business Growth Specialist and provides asystematic, step-by-step process designed to develop growthstrategies leading clients to take their rightful place in adynamic and demanding marketplace.
