Running head : Managerial EconomicsName of StudentName of College /UniversityName of ProfessorCourseManagerial EconomicsIn Womack , Jones Roos book , The Machine that Changed the world , the processes in the intersection of automobile have improved at the onset of globalization , as companies develop a personalized manner to accomplish high standards of take at a commence cost . For instance , the success of the Japanese car producer , Toyota , has created waves of changes in terms of its output costs and consumer contentment (Womack , Jones Ross , 1991 p Through the years , Toyota has managed to come up with slipway on how to increase and diversify production mobility while trim the travail and the costs . Womack et al calls this strategy lean production which makes implement of a band of multi-skilled workers that ar e cascaded into the different aims of geological formation in to generate large volumes of automobiles and auto parts in an considerable quantity .
In correlation with this , Toyota had re-established its relationship with its workers by whirl them a lifetime career in the federation and basing their allowance on seniority rather than being skill-dependent . This created more(prenominal) opportunities for its workers to attain personal growth and development since they have been authorise to invoke their knowledge and skills for the betterment of the company . Toyota s flexible arise to production system allowed the company to maintain a level of actualize fr! om its workers and consumers (Womack , Jones Ross , 1991It was noted that during the 1980 s , Toyota s...If you want to get a expert essay, bless it on our website:
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