Final answer:
Toyota's President, Akio Toyoda, hopes that a transfer of tacit knowledge will occur through its equity alliance with Tesla Motors. Tacit knowledge refers to knowledge that is difficult to articulate or codify, and is often gained through personal experience and interactions. Through this alliance, Toyota and Tesla aim to learn from each other's expertise and drive innovation in the automotive industry.
Step-by-step explanation:
Akio Toyoda, the President of Toyota, hopes that a transfer of tacit knowledge will occur through its equity alliance with Tesla Motors. Tacit knowledge refers to knowledge that is difficult to articulate or codify, and is often gained through personal experience and interactions. In the context of Toyota's alliance with Tesla, it means that Toyota expects to learn valuable insights and expertise in electric vehicle technology and manufacturing processes from Tesla.
Through the alliance, Toyota aims to benefit from Tesla's expertise in electric vehicle technology, while Tesla benefits from Toyota's extensive experience in automobile production and global market presence. The transfer of tacit knowledge is crucial for both companies to enhance their competitive advantage and drive innovation in the automotive industry.
For example, Tesla's electric vehicle technology and manufacturing techniques could help Toyota improve its own electric vehicle offerings and production processes. Through collaboration and sharing of knowledge, both companies can leverage each other's strengths and accelerate their progress in the rapidly evolving electric vehicle market.