The collected Body Of Knowledge of the Operational Excellence Society.
ByTED
Social science researcher Michael Norton spends his time dedicated to learning more about how we feel about what we buy and spend. In this universally applicable TED Talk Cambridge, Norton refutes the age-old saying “money can’t buy happiness”. Only, he throws in a twist. In his research, Norton has discovered that it is indeed possible…
Would you get on an airplane if it you knew the flight would fail 25-70% of the time? What if it was only 1% of the time? Would you get on an airplane if you knew one out of every hundred (1:100) flights would fail? That would be a failure rate of approximately one flight per hour, every hour,…
Budget business insanity in government, public and private sectors is said to be the practice of management trying to reduce cost this year while still using last year’s processes.
Over the last twenty years, organizations have adopted many different improvement programs – TQM, Re-engineering, Lean, Six Sigma, etc. Despite working hard to adopt/apply the particular improvement methodology, very few organizations actually experience a true transformation and radically improve their competitive position. The competitive position typically stays the same since competitors also advance by adopting…
As China economy growth slows to a near three-year-low, large U.S. and European-based companies are growing increasingly nervous – as this means the loss of what had been one of their surest growth bets. Most Western chief executives remain optimistic with regard to China’s economy, and predict a return to rapid growth, considering this nothing…
Paul Krugman, a Nobel prize-winning economist-cum-polemicist, argues that it is difficult to think of any noteworthy financial breakthroughs that have benefited society in the past 25 years. Joseph Stiglitz, another Nobel laureate, has highlighted the fact that most financial innovation in the build-up to the financial crisis “was not directed at enhancing the ability of…
