Talk about a challenge to a brand! Think about it — over the last 90 days, how has the Toyota brand changed in the eyes of consumers? Toyota’s competitive advance in the eyes of the consumer has been its reputation for quality. This is a great lesson on how to never lose focus on how you differentiate yourselves with the consumer. Identifying what makes you unique is an important part of what makes strategic thinking come alive for organizations.
Toyota’s production system has long been admired by companies for quality. Ryozo Yoshikawa, a professor of manufacturing Management at the University of Tokyo, indicates forgetting about its consumers has led to Toyota’s problems.
The executives in any organization that does not always think strategically and focus on what is best for the consumer, is not going to win long-term in today’s marketplace.
What do you think?