$2.5b Investment For Toyota In F1 Since 2002

$2.5b Investment For Toyota In F1 Since 2002

$2.5b Investment For Toyota In F1 Since 2002


Now, Toyota is pinning its hopes on fully implementing its vaunted consensus-management style, which is out of step with the rest of the world of grand-prix racing, to breathe life into its half-billion-dollar-a-year F1 team.

When Tadashi Yamashina took over as Toyota’s F1 boss last year, he began teaching his 650-member team of drivers, engineers, designers, mechanics and support staff that the key to winning can be found in the Toyota way, a set of management principles that helped the company grow from an obscure Japanese auto maker into a global auto giant.

“We encourage teamwork and we always have our minds set on kaizen,” which in Japanese means continuous improvement, says Mr. Yamashina, who manages the team at its headquarters in Cologne.

While governments, hospitals and manufacturers world-wide have successfully copied Toyota’s celebrated philosophy, many racing analysts question whether it is suited to the competitive world of F1. In F1, much of the drama occurs off the racetrack as teams spend millions of dollars researching and building what they hope will be the fastest car. Historically, the most successful teams have been led by strong personalities who function like field generals in battle, calling all the shots not only during the race but also during the design phase.

“To shine in F1, you have to be reactive, very quick in everything,” says Patrick Camus, an F1 analyst and commentator for the French motor-sport magazine Auto Hebdo. The Toyota team, by comparison, is “very heavy to drive, like a boat that’s too large.”

Read the full story

You could get van insurance for as little as £276 (based on quotes provided to 10% of callers. (Source: MORE TH>N BUSINESS October 2009) when you buy online as well as other great offers when you buy a business insurance product.

With our home insurance policy, when you buy buildings insurance, we'll give you contents insurance up to £75,000 absolutely free! or for contents worth more, try our high value home insurance cover

Buy pet insurance online and benefit from a 20% discount! From 8 weeks old onwards, your pet cat or dog will be covered regardless of its age (covers each new injury or illness up to £7000).

Free helplines for legal advice, medical advice and post-accident counselling, and discounts on our breakdown cover with our car insurance UK based personal customer manager.

Apply at MORE TH>N and we'll give you the best quote from our panel of leading insurers to help find you the cheapest life insurance policy. Prices start from only £5 a month.

Choose a Newsfeed
use the newsfeed below to search the full Auto Racing Daily story archive