In light of Toyota’s unprecedented decision to recall and stop selling eight car models, this New York Times excerpt caught my attention: “In its drive to become No. 1 in worldwide sales, Toyota may have left its reputation vulnerable.” The Tokyo Shimbun went so far as to say, “[t]he discrediting of Toyota could even destroy the world’s trust in Japanese manufacturing, which relies on its reputation for high quality.” Time will tell what the full consequences will be.
In negotiating and in life, trust is hard to build, easy to destroy and difficult to restore. Toyota’s plight is a useful reminder that we should always value and protect our reputation.