The Elegant Solution: Toyota’s Formula for Mastering Innovation

November 16, 2006
Matthew May | Senior Advisor, University of Toyota; Director of Aevitas Learning

ONE MILLION. That is the number of ideas Toyota implements each year, and those ideas come from every level in the organization, creating an engine of innovation, which is the greatest source of their competitive advantage. Perhaps this is why Toyota is one of the world’s ten most profitable companies, with a market value of 150 billion plus, more than GM, Ford, Honda, and Volkswagen combined. Toyota’s formula for the “elegant solution” is driven by three principles: Ingenuity in Craft, Pursuit of Perfection, Fit with Society and driven by ten clear foundational practices. It is a clear plan that can be implemented at any level of a company.

Speaker Details

Matthew May is a graduate of Johns Hopkins University and the Wharton School, and is Senior Advisor to the University of Toyota and director of Aevitas Learning, a Los Angeles based consulting firm that works with corporations to guide innovations and turn ideas into action.