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From the very start, Kiichiro Toyoda wanted to build a philosophy of self-reliance and constant improvement into his business. At the center of his philosophy is the idea that businesses should take a long-term perspective. Unlike most companies seeking to maximize each financial quarter, Toyota prioritizes incremental improvement over time. This gives decisions room to breathe instead of being reactive – like avoiding layoffs in an economic downturn to boost short-term profits. Toyota believes its mission transcends profits. By providing ever-better products that enhance mobility, Toyota aims to benefit customers, employees, partners, and society as a whole. This sense of purpose beyond shareholders’ profits guides actions small and large. For example, Toyota elected to open a joint manufacturing plant, NUMMI, with its competitor General Motors in 1984. Toyota dedicated resources to uplift the struggling automaker’s manufacturing capabilities and support a culture shift within GM’s th

From the very start, Kiichiro Toyoda wanted to build a philosophy of self-reliance and constant improvement into his business. At the center of his philosophy is the idea that businesses should take a long-term perspective. Unlike most companies seeking to maximize each financial quarter, Toyota prioritizes incremental improvement over time. This gives decisions room to breathe instead of being reactive – like avoiding layoffs in an economic downturn to boost short-term profits. Toyota believes its mission transcends profits. By providing ever-better products that enhance mobility, Toyota aims