Today, Toyota is considered the world's most profitable car manufacturer. The giant corporation is known for producing high-quality cars using fewer man hours and less on-hand inventories. Toyota is a company known to raise the bar for manufacturing, product development and process excellence.

But what is Toyota's secret and can other corporations emulate Toyota's success? Jeffrey K. Liker, author of The Toyota Way, believes anyone can adopt the same principles and improve their business processes. In his book, Liker narrates and explains the 14 principles that drive Toyota towards quality and excellence.

The first principle is: "Base your management decision on a long-term philosophy, even at the expense of short-term financial goals." The Toyota message is consistent: Do the right thing for the company, its employees, the customer and the society as a whole. Simply put, Long-term goal should supersede short-term decision making or goals. Develop, work, grow and align the company towards a common goal that is bigger than making money. Your philosophical mission is and should be the foundation of all your other principles.

This is the reason why Toyota is aligned around satisfying the customer. It believes that a satisfied customer comes back and gives more business through referrals. It generates value for the customer, the society and the economy.

Toyota invented Lean Production in the 1940s and 50s. The company focused on eliminating wasted time and material from every step of the production process (from raw materials to finished goods). The result was a fast and flexible process that gives the customers what they want, when they want it, at the highest quality and most affordable cost.

With the principle above and thirteen others found in the book, you now have an idea on how to build or transform your organization into a lean and productive enterprise. Toyota is an example of a fine organization. It is only fitting that you learn from one of the best.

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