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Toyota Announces New Global Vision, Organizational Changes to Speed Decision-Making
Toyota Motor Corporation (TMC) President Akio Toyoda today (March 9th in Japan) unveiled the company’s 2020 Global Vision mission statement.
The Global Vision outlines the ideal form the company should take and what kind of values it should honour. TMC-related operations around the world will define their own missions and concrete steps to fulfill the vision.
The text of the Toyota Global Vision:
“Toyota will lead the way to the future of mobility, enriching lives around the world with the safest and most responsible ways of moving people. Through our commitment to quality, constant innovation and respect for the planet, we aim to exceed expectations and be rewarded with a smile. We will meet challenging goals by engaging the talent and passion of people, who believe there is always a better way.”
TMC also announced changes in the company’s global management structure to
streamline decision-making and actions to provide greater regional self-reliance that will strengthen Toyota’s business in North America.
At TMC, the changes include:
- Reducing the number of members on the TMC Board of Directors from 27 to 11.
- Streamlining the current three-tier executive decision-making system, and reducing the total number of officers from 77 to 60.
- Changing structures to allow local decision-making by overseas affiliates. Regional Chief Officers will, in principle, be assigned locally and the number of local officers will be increased from 13 to 15. Their divisions’ functions, which are presently performed in Japan, will be transferred overseas in stages.
- Establishing outside regional advisors with academic, government and corporate backgrounds to provide insights.
In his speech to members of the media in Tokyo, Mr. Toyoda indicated that “regional operations will have a bigger say than ever in formulating policy.” TMC will “provide overall direction and identify what we need to do. We will invest our regional operations with the authority and the responsibility for determining how to proceed.”
Ultimately, Mr. Toyoda said, TMC’s plan is “for North America to become a global center responsible for R&D and production, as well as exports.”
Further information about the new Global Vision may be found on the TMC website athttp://www2.toyota.co.jp/en/news/11/03/0309_1.html
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