released on November 2003
President of the newly formed Toyota Motor Corporation, 1982
Courage has always been an important element to the survival and success of Toyota. At the brink of bankruptcy in post-war Japan, Toyota Motor Corp., Ltd. was forced to split its sales from its production operations in 1950, by creating Toyota Motor Sales Co., Ltd. (Japan), as a condition for obtaining financial assistance.
For 32 years, these two companies concentrated their managerial resources in their respective areas of responsibility and became leaders in the Japanese automobile industry. However, Toyota was expanding, and the separated system was fast becoming out of date. In order to develop its international operations and continue growing as a company, Toyota needed to join forces and restructure with all its employees under one, new organization. The two companies merged in July 1982 as the new Toyota Motor Corporation.
"Starting June 30th, 1982, the postwar period is over for Toyota Motor Corporation," said newly-selected Chairman Eiji Toyoda. "With July the 1st, a new first step has been made."
Shoichiro Toyoda, who had just been appointed president, explained the new company's philosophy as 3Cs — Creativity, Challenge and Courage. "The third C is for courage. It is most important to take the relevant factors in all situations into careful, close consideration and to have the courage to make clear decisions and carry them out boldly. The more uncertain the future is, the more important it is to have this courage."
With leadership and teamwork, the merger helped make Toyota stronger — with faster decision-making processes, more energetic development of plans and a review of all areas of operations, from the management base of domestic dealers to the export distribution system.
This courageous spirit brought Toyota through this important transition period and helped the company to make the organizational changes which provided the backdrop for Toyota's global expansion. In 1984, only two short years later, Toyota held its first-ever Toyota World Convention. Courage and a united sales and production organization, set Toyota well on its way to becoming global.
Toyota Motor Corp., Ltd. and Toyota Motor Sales, Co., Ltd. merge to form Toyota Motor Corporation in 1982.
The first Toyota World Convention, 1984
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