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Abstract ▼ AI-Helper

Under Ford system, corporations sought to maximize the economies of scale by raising the production efficiency. It aims to lower the production cost by increasing the quantity of output. But in the era of market flux and uncertainty, however, such strategies can no longer be sustained. Replacing the...

Under Ford system, corporations sought to maximize the economies of scale by raising the production efficiency. It aims to lower the production cost by increasing the quantity of output. But in the era of market flux and uncertainty, however, such strategies can no longer be sustained. Replacing the structures of Ford system, Toyota was able to accelerate the pace of process innovation and product innovation. Related to this innovation is JIT, new model development, modularization. The firm's reliance on flexible production technology provides opportunities to expand her production basis to foreign countries successfully. The main objective of this paper is to explore the contribution of process innovation to profit-capital ratio. The model is estimated using a time-series data of 18 years from 1990 to 2007 of auto production industry in korea. An Implication of this estimation shows that process innovation explains a significant portion of profit-capital ratio.

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