The Elegant Solution: Toyota's Formula for Mastering Innovation

Front Cover
Free Press, 2007 - Business & Economics - 236 pages
12 Reviews
"Toyota is becoming a double threat: the world's finest manufacturer and a truly great innovator . . . that formula, a combination of production prowess and technical innovation, is an unbeatable recipe for success."

-- Fortune, February 2006

For the first time, an insider reveals the formula behind Toyota's unceasing quest to innovate and do more with less, a philosophy that has made it one of the ten most profitable companies in the world (and worth more than GM, Ford, DaimlerChrysler, and Honda combined). In a rare look into Toyota's ability to consistently achieve breakthroughs that outperform the competition, The Elegant Solution explains what Toyota associates have known all along: it's not about the cars. Rather, Toyota's astounding success is just the visible result of a hidden creative process that begins with a seven-digit number.

One million. That's how many new ideas the Toyota organization implements every year. These ideas come from every level of the organization -- from the factory floors to the corporate suites. And organizations all over the world want to learn how it's done. Now senior University of Toyota advisor Matthew May shows how any company can achieve an environment of everyday innovation and discover the kinds of elegant solutions that hold the power to change the game forever. World-class benchmarks like Lexus, Prius, Scion -- even Toyota's vaunted production system -- are simply shining examples of elegant solutions.

A tactical playbook for team-based innovation, The Elegant Solution delivers powerful lessons in breakthrough thinking in a provocative yet practical guide to the three core principles and ten key practices that shape successful business innovation. Innovation isn't just about technology -- it's about value, opportunity, and impact. When a company embeds a real discipline around tapping ingenuity in the pursuit of perfection, the sky is the limit. Dozens of case studies (from Toyota and other companies) illustrate the universal power and applicability of these concepts. A unique "clamshell strategy" prepares managers to successfully lead and sustain the innovation effort.

At once a thought-starter and a taskmaster, The Elegant Solution is a vital prescription for anyone wanting to truly master business innovation.

From inside the book

What people are saying - Write a review

User ratings

5 stars
6
4 stars
3
3 stars
2
2 stars
1
1 star
0

LibraryThing Review

User Review  - asanhendra - LibraryThing

Because it is behind a particular result happens in this life, there is a specific reason that caused it all happen. And if we consider a very unusual company as a result (as an example of this is ... Read full review

Review: The Elegant Solution: Toyota's Formula for Mastering Innovation

User Review  - LG Estrella - Goodreads

The Elegant Solution delves into the processes and culture behind Toyota's success in developing and applying innovative practices in manufacturing and management. The book provides a number of clear ... Read full review

Contents

The Art of Ingenuity
15
The Pursuit of Perfection
35
The Rhythm of Fit
51
Copyright

9 other sections not shown

Common terms and phrases

About the author (2007)

Matthew E. May is a longtime Toyota business partner, holding a key advisory role with the University of Toyota for more than eight years. As a master Toyota instructor and founder of L.A.-based Aevitas, he partners with management teams to achieve excellence in innovation, working with a number of well-known organizations, including Wells Fargo, Sprint Nextel, Quadrant Homes, and the Los Angeles Police Department. A graduate of The Wharton School and Johns Hopkins University, he lives with his wife and daughters in Southern California, where he is an avid cyclist.

Bibliographic information