Driving ahead

Purpose – The purpose of this paper is to review the latest management developments across the globe and pinpoint practical implications from cutting‐edge research and case studies. Design/methodology/approach – This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings – As success stories go, Toyota's is up there with the best of them. The company has posted record annual earnings for almost a decade and has become the most profitable car manufacturer on the planet. And in the market that matters most, the USA, its unbroken sequence of record sales stretches back even further. The Japanese automaker's success is even more remarkable given the problems elsewhere in the industry. While witnessing major players like Nissan and Fiat teetering on the brink has been sobering enough, it hardly compares to the plight of mighty GM, Ford and DaimlerChrysler where job cuts, factory closures and huge losses have become a way of life in recent years. Ford in particular has found the going tough and a $12.7 billion deficit in 2006 coupled with significant losses among its subsidiaries signals the most miserable year of the company's existence. Performance in Europe has been its only saving grace. So how has Toyota managed to buck the trend so dramatically? Practical implications – Provides strategic insights and practical thinking that have influenced some of the world's leading organizations. Originality/value – The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy‐to‐digest format.