High-velocity change is the fundamental challenge facing companies today. Few companies, however, are prepared to continuously innovate-because they focus on the short-term and do not emphasize the wisdom needed.
In The Wise Company, legendary management experts Ikujiro Nonaka and Hirotaka Takeuchi highlight how various companies have confronted the challenge of rapid change. The key: a relentless self-renewal process where companies realize the future they envision, rather than only responding to changes in the environment.
Companies that have resilience, longevity, and sustainability share a number of characteristics, Nonaka and Takeuchi show. Strategies are based on alignment of organizational and societal benefits. Leaders grasp the core of any situation or problem quickly, and intuitively comprehend the nature and meaning of people, things, and events. But wise leadership is not enough: wisdom must infuse the organization through informal as well as formal shared interactions and communications that focus on metaphors and stories that convey the essence and meaning of strategies and actions. Nonaka and Takeuchi demonstrate how continuous innovation results from companies creating new knowledge, disseminating knowledge throughout the organization, and converting that knowledge to action.
To an outsider, Toyota is hard to understand. The company moves forward gradually while also advancing in big leaps. It is frugal with its resources while spending extravagantly on people and projects. It is both efficient and redundant; it cultivates an environment of stability and paranoia; it is hierarchical and bureaucratic, but encourages dissent; it demands that communication be simplified while building complex communication networks. These contradictions are rampant at Toyota because its culture and managers intentionally embrace contradiction, opposites, and paradox. Granted unprecedented access to the inner workings of Toyota, the authors spent six years researching the company and performing more than 220 interviews with Toyota employees, distributors, and car dealers in order to determine what makes Toyota one of the world's best companies. Extreme Toyota offers an inside look at the radical contradictions within the company, created by its own management, and how these help Toyota outperform its competition. By putting a premium on creativity and paradoxical thinking as a corporate resource, Toyota has become the best car manufacturer and one of the most successful companies on earth. This audiobook takes a fascinating inside look at what makes Toyota tick.
