Empirical Study of Toyota Motor Corporation Relative to the Good to Great Framework

Abstract

Best-selling business book Good to Great was published in 2001 as the result of an effort to understand what characteristics, if any, companies who experience an extended run of greatness have in common compared to companies who do not.  The resulting seven-component framework of Good to Great has brought the book both wild acclaim in management circles and heavy scrutiny in the research arena.  While the book originally studied only American companies, this research will examine Good to Great’s research methodology and definition of “great” in order to compare the framework to Toyota Motor Corporation.  A consistent tenant in Fortune’s Global 500 top 10, Toyota is arguably one of the most successful companies in the world, showing a growth that has been remarkably steady for almost 80 years. This paper examines empirical data and evidence from Toyota research and analyses the degree of fit relative to the Good to Great framework. The outcome of the paper offers evidence to support Good to Great framework by putting it on trial against a large international organization.