Business Intelligence

Improving Strategic Outcomes With Toyota's Example

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Executive Summary

A singular focus on one strategy means you're not paying attention to other key areas. Develop support mechanisms for your strategy that help you continually scan the horizon. Stay focused, but be aware of and able to respond to any peripheral fallout. "Our goal is to be number one in the hearts and minds of our customers," Jim Lentz, president of Toyota USA, told a television interviewer recently. In the wake of massive recalls stemming from what Wharton Professor of Marketing Peter Fader calls a "Perfect storm" of separate engineering problems, Lentz's customers and a worldwide audience have some serious doubts about that goal.

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