Margin squeezing is easy; real cost-reduction is hard. So argue Daniel Jones and James Womack, introducing a new edition of their seminal Lean Thinking. Lean thinkers pulverise costs by mapping value streams (which convey products from first stages to final delivery), and cutting out all waste. Six years on, the pair have found new paths to the low-cost lean nirvana, such as 'When you've fixed something, fix it again'. Every Future State for your value streams becomes a Current State as achieved. At sealing specialist Freudenberg-NOK, five successive Future States have been achieved, each of which moved the operation decisively ahead. If you think you can, you really can manage towards perfection. Wow!
ONE MINUTE BRIEFING: Rod Aldridge, founder and former CEO of Capita, explains his rules for working with the public sector.
ONE MINUTE BRIEFING: CEO Nicholas Anderson on the essence of FTSE 250 engineering firm Spirax Sarco's M&A strategy.
ONE MINUTE BRIEFING: Julian Richer's thriving hi-fi empire is proof that ethical business pays dividends.
FROM THE ARCHIVE: Big data is so yesterday, says Ryan Smith of billion-dollar data firm Qualtrics.
New products, branding and stores help, but changing culture is key when it comes to a successful turnaround.
There are more opportunities for women to progress within organisations says Alison Rose (pictured above) after speaking at the Inspiring Women in Business Conference...