Will Toyota's Way Win on the Track_ - WSJ.com

Will Toyota's Way Win on the Track_ - WSJ.com - Will...

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March 14, 2008 DOW JONES REPRINTS This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers, use the Order Reprints tool at the bottom of any article or visit: www.djreprints.com . See a sample reprint in PDF format . Order a reprint of this article now . Will Toyota's Way Win on the Track? Car Maker Is Counting On Its Consensus Style to Break Formula One Losing Streak By JOHN MURPHY March 14, 2008; Page B1 Tokyo When the Formula One racing season starts on Sunday with the Australian Grand Prix, Toyota Motor Corp., which can practically do no wrong in the factory and the showroom, will be out to prove after years of disappointing finishes that it can finally turn things around in the world's top auto-racing circuit. Since joining F1 in 2002, Toyota has never won a race or ended a season in better than fourth place despite spending an estimated $2.5 billion the past six years. Last year, it finished sixth out of 11 teams, causing restlessness among Toyota's top executives. "Money cannot buy success in F1," says Marcel Cordes, executive director of Sport+Markt, a sports- marketing consultancy in Cologne, Germany. "The lack of victories is becoming more and more of a problem. I think 2008 is the key year for them to show that they are not only part of the show but a noteworthy challenger." Lead driver Timo Glock of Germany, right, with Toyota President Katsuaki Watanabe, will be out to show the auto maker can shine in the Australian Grand Prix on Sunday. Now, Toyota is pinning its hopes on fully implementing its vaunted consensus-management style, which is out of step with the rest of the world of grand-prix racing, to breathe life into its half-billion-dollar-a-year F1 team. When Tadashi Yamashina took over as Toyota's F1 boss last year, he began teaching his 650-member team of drivers, engineers, designers, mechanics and support staff that the key to winning can be found in the Toyota way, a set of management principles that helped the company grow from an obscure Japanese auto maker into a global auto giant. "We encourage teamwork and we always have our minds set on
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Will Toyota's Way Win on the Track_ - WSJ.com - Will...

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