Competition should not be for a share of the market-but to expand the market.
W. Edwards DemingRead
If you don't understand how to run an efficient operation, new machinery will just give you new problems of operation and maintenance. The sure way to increase productivity is to better administrate man and machine.
Interpretation
Understanding operations is key to maximizing productivity; new tools won't solve issues without effective management.
W. Edwards Deming emphasizes the importance of efficient operation management in any organization. He argues that simply introducing advanced technology or machinery does not guarantee higher productivity; rather, it's crucial to have a solid understanding of operational processes and proper management of both human and mechanical resources to truly enhance productivity and reduce problems.
In practice
In a business seminar focused on operational excellence.
Competition should not be for a share of the market-but to expand the market.
The job can't be finished only improved to please the customer.
Don't expect smart people to listen to you without proof.
Quality begins with the intent, which is fixed by management.
Learn the basics of analytics and people will love you. If you don't have time to learn, hire someone.
Just because you can measure everything doesn't mean that you should.
The speed at which a business success is recognized, furthermore, is not that important as long as the company's intrinsic value is increasing at a satisfactory rate. In fact, delayed recognition can be an advantage: It may give us the chance to buy more of a good thing at a bargain price.
We must create economic opportunity, build a culture of entrepreneurship, get people to take responsibility for improving their lives, rather than putting them in a position where they sit back in their poverty and blame others for it.
Reward worthy failure - Experimentation.
Failure is not the opposite of success; it's part of success.
By the time a player becomes a Grandmaster, almost all of his training time is dedicated to work on this first phase. The opening is the only phase that holds out the potential for true creativity and doing something entirely new.
The single most important thing to remember about any enterprise is that there are no results inside its walls. The result of a business is a satisfied customer.
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