NCERT Book Class 12 Business Studies Chapter 2 Principles of Management

PRINCIPLES OF
MANAGEMENT

Guiding Principles of Toyota Motor Corporation
2
CHAPTER
L E A R N I N G
Toyota follows certain well-defined business principles guiding
its functioning. These are: OBJECTIVES
1. Honour the language and spirit of law of every nation and
After studying this
undertake open and fair corporate activities to be a good
corporate citizen around the world. chapter, you should
2. Respect the culture and customs of every nation and be able to:
contribute to economic and social development through
corporate activities in local communities. n State the
3. To provide clean and safe products and to enhance the meaning, nature
quality of life everywhere. and significance
4. Create and develop advanced technologies and provide
outstanding products and services that fulfil the needs of of principles of
customers worldwide. management;
5. Foster a corporate culture that enhances individual creativity
and teamwork value, while honouring mutual trust and n Explain Taylor’s
respect between management and labour. principles and
6. Pursue growth and harmony with global community through techniques
innovative management.
7. Work with business partners in research and creativity to
of Scientific
achieve stable, long-term growth and mutual benefits and be Management; and
open to new partnerships. These principles, will guide the
company in its global vision 2010. This global vision envisages
n Explain Fayol’s
continuous innovations in future, use of environment friendly principles of
technologies, respecting and working with different sections of management.
society and establishing an interactive relationship with society.

of toyota/
75years/data/conditions/philosophy/guiding principles.html/

It is clear from the foregoing case that stating the vision as well as the ways
managerial pursuits at Toyota Motor to achieve it. Similarly, many other
Corporation are driven by principles business enterprises have followed
that serve as broad guidelines for various principles in their working