The Economics of Integrity: Why Toyota Will Ultimately Triumph

By • Feb 10th, 2010 • Category: 26th Story

I was blown away by this brave Toyota ad and it immediately made me think of Anna Bernasek’s book The Economics of Integrity which shows how integrity is our greatest economic asset (there’s a whole chapter on Toyota). Anna spoke to the recently about Toyota’s mess, and why they will get out of it.

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  • Dan Schawbel

    Julia, good video, and I think in the long-term is might help, but there are major issues here. I got a Facebook chat message the other day from a woman who told me that her son burned to death because of his Toyota. When people start dying and getting injured, a brand is severely hurt. If you watch any of the late night shows with Jay Leno and Kimmel, you'll see what they think of Toyota. I think this example shows that as great as a brand that Toyota was (best in class), one major mistake can really make a negative impact.

    I do believe they can recover long-term though. Even Chris Brown had a chance to recover from beating up Rihanna, but he failed to do so because of carelessness.

  • IvanaSendecka

    Indeed, attention worth video. Thanks for sharing Julia!
    Integrity and transparency will rule our world. Relationships based on TRUST are the future of any business. And this may cause troubles for many giants, sooner they might think.
    Toyota certainly did a great just with publicly announcing : “we screw up”, which is perfectly normal to happen when you do things. Only those who are idle don't do any mistakes;-)
    Keep on rocking guys,
    cheers from Slovakia;-)

  • Anna Bernasek

    I certainly agree that questions of trust in Toyota's brand are the key issue. Whether those questions prove well founded, and I'm not yet convinced they are well founded, is a secondary issue. Toyota didn't get where it is by taking shortcuts; they earned the confidence of millions of customers by doing many, many things right. My bet is that as the current frenzy of speculation cools off the facts may not be all that damaging and Toyota will do the hard work necessary to come out even stronger. But of course we'll have to wait and see. It's showtime for Toyota.

  • bron2k9

    Toyota owners must seek justice. The company has run afoul of the law and shown absolutely no regard for the safety of their customers.

    Toyota led a dizzying array of misdirections and lies and despite all the recalls and public apologies, must answer for its actions in court.

    If you own a Toyota, you have a right to be there. Please visit this site to learn more about the company's lies and denials spanning nearly a decade and what you can do as an owner:

  • redsnow rc15

    i cant say anything about all this .. why this all happened …..?