Professor Elam

Weekend Sept  11, 2021

Amy Plemmons tests the latest Corolla Hybrid.

She notes Toyota introduced the Corolla in the  1960s and has sold over 50 M world wide.

The Japanese have a word for evolution – Kaizen, meaning small changes.

I recall seeing my first Corolla in about 1970. It had an AM FM radio, reclining seats, tinted glass, all standard, back when American makes charged extra for all those things. The Americans did everything but benchmark the obvious asking for import quotas from other countries and certainly not re engineering their products.   The Americans lave lost market share ever since.

Notice hos American manufacturers have to change the name oftheir small cars with every model change, no one wants the last model.Toyota though has stuck with Corolla and Camry from the get go. Like Ford's Model T they fill a niche.

This is what managerial accounting is all about. Getting it right the first time and staying on point building in quaality.