PRINCIPLES OF MANAGEMENT CHAPTER

2 PRINCIPLES OF MANAGEMENTCHAPTERLEARNING OBJECTIVEST oyota follows certain well-defined business PRINCIPLES guiding its functioning. These are:1. Honour the language and spirit of law of every nation and undertake open and fair corporate activities to be a good corporate citizen around the Respect the culture and customs of every nation and contribute to economic and social development through corporate activities in local To provide clean and safe products and to enhance the quality of life Create and develop advanced technologies and provide outstanding products and services that fulfil the needs of customers Foster a corporate culture that enhances individual creativity and teamwork value.

Principles of Management 31 over a period of time. A number of management thinkers, and writers have also studied principles of management from time-to-time. In fact, there is a long history of management thought. Management principles have evolved and are in the continuous process of evolution. (see box.) You can see that the evolution of

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