(Toyota President, Katsuaki Watanabe) eschews the normal management mantra of shareholder value above all. A company’s purpose, Watanabe insists, is to be useful to society.
W. Edwards Deming described the purpose of an organization in New Economics, on page 51, as:
The aim proposed here for any organization is for everybody to gain -
stockholders, employees, suppliers, customers, community, the environment - over the long term.
stockholders, employees, suppliers, customers, community, the environment - over the long term.
More from our previous post on the purpose of an organization
More lean thinking (Toyota Production System) articles.
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