Innovation of Toyota in Hybrid Free Essays

Toyota Innovation Lecturer: Dr. Barbara Igel Group members: Mr. Nguyen Hoang Hai Ms. We will write a custom essay sample on Innovation of Toyota in Hybrid or any similar topic only for you Order Now Pham Thi Thu Hoai Ms. Kieu Phuong Ly 1 Toyota Introduction †¢ †¢ †¢ †¢ Established: 28 August 1937 Entrepreneur: Mr. Kiichiro Toyoda Total unit sold (up to July 2012): 200mil cars Company achievement: ?Product development motivation ?Extraordinary capability to manage large global product development portfolio ?Launch more new vehicles than competitors ?Consistently deliver winners ?Continuous innovation and development 2 Prius XW10 the first Toyota’s hybrid was given to the market in December 1997 3 Prius XW10 he first Toyota’s hybrid was given to the market in December 1997 The car can run by both the gasoline and electricity 4 Differences Regular Car Hybrid Car Gasoline Gasoline electricity CO2 emissions Less CO2 emissions Noise Silence powering High fuel consumption Low fuel consumption 5 Green Prius Make your gas last longer, Make your save last longer and Make your dream comes true 6 The first generation An Architecture Innovation Product Pr ius XW10 7 What kind of innovation in nth Generations of Toyota Prius? Prius V Prius C Prius Plug -in Incremental innovation products 8 Competitive Advantage Product Development Strategy Process Goals 9 Product development strategy ? Conceiving designing news cars ? Durability Reliability ? Increase capital investment shorter RD cycles ? Reduce market risk 10 Product Development Process ? Fine balance between â€Å"shusa† program leader â€Å"bucho† functional leader ? Parallel-path development, manage design and engineering trade-offs, and ensure flexibility (Apollo 11) ? Good relationship with suppliers 11 Product Development Process (†¦cont) ? Focus on collaboration and process ? Capturing and sharing the knowledge experience ? Monozukuri (â€Å"making products†) coming irectly from hitozukuri (â€Å"making people†) 12 Product Development Goals Focus on product value which perceived by customers Product Value GAP Product Cost 13 PRIUS – THE LEADER OF HYBRID CARS PRIUS Toyota Time of Sales Models Sold units (at the end of september 2012) INSIGHT Honda 1997 1999 5 (with three generation) 2 (wit h two generation) 2,804,900 1,000,000 14 Solution adopted by the company Source: (Dehoff K. Loehr J. , 2007, Innovation Ability) 15 Innovation Framework (Igel B. , 2012, Innovation Techno entrepreneurship course) 16 Source: (Dehoff K. Loehr J. , 2007, Innovation Ability) 17 Reasons ? Thick history development culture ? Toyota Way: â€Å"people is the heart and soul† â€Å"is the determinant of â€Å" best practice† approach† 18 Reasons ? â€Å"Shusa† : program manager ? â€Å"bucho†: functional manger ? Balancing authority ? Culture: the program success goal sharing broadly through the company 19 Reasons ? Forward back up solution are developed simultaneously ? Ensure timeline schedule ? Culture: better product by making innovation everyday 20 Reasons ? Investing the innovative capacities to longterm suppliers ? Culture: collectivism, long-term thinking, uncertain avoidance – HIGH 21 Reasons Capturing sharing knowledge and experience, making it available ? Management by means not by results ? Culture: better product by making innovation everyday 22 Reasons ? â€Å"making product† emanate from â€Å"making people† ? Culture: People is the heart soul of Toyota; the life of employees together with the life of the company. 23 Reasons ? Strong ? Core values: ? Personal accountability ? Continuous improvement ? Collaboration ? Elimination of waste 24 Source: (Dehoff K. Loehr J. , 2007, Innovation Ability) 25 Apply in Vietnam? ?No 26 Source: (Dehoff K. Loehr J. , 2007, Innovation Ability) 27 28 How to cite Innovation of Toyota in Hybrid, Essay examples