When you have a project, pour in the necessary resources
Whether a small or an ambitious one, projects which do not have enough ressources allocated are bound to fail
Ten years after the first introduction the premium Lexus line on the US market, the Toyota-owned Japanese premium brand was leading the luxury market with greater sales than Cadillac, Lincoln, BMW and Mercedes-Benz.
The combination of brilliant marketing decisions and implementation had a lot to do with that success; but it is the daring boldness of Toyota’s top Management that had made everything else possible :
For its first Lexus, Toyota gave their 1,400 engineers and 2,300 technicians and blank check. To give some perspective, that was about over a half of number of people assigned to work on the first Boeing 777 jumbo line in the 1990’s.
The first Lexus took six years and one billion dollars to build.
Source : The secrets of Lexus’ success: how Toyota motor went- From zero to sixty in the luxury car market, Columbia Business School, 2005
Any goal can be pursued in a variety of ways. It is the job of strategy to choose the most effective course of action for attaining objectives.
I wanted my team to understand that strategy is disciplined thinking that requires tough choices and is all about winning. Grow or grow faster is not a strategy. Build market share is not a strategy. Ten percent or greater earnings-per-share growth is not a strategy. Beat XYZ competitor is not a strategy. A strategy is a coordinated and integrated set of where-to-play, how-to-win, core capability, and management system choices that uniquely meet a consumer’s needs, thereby creating competitive advantage and superior value for a business.
Strategy is a way to win—and nothing less.
I consider the most important job of someone like myself recruiting.