The W. Edwards Deming Institute Blog

Posts Tagged ‘short term thinking’

Minimize Total Cost

End the practice of awarding business on the basis of price tag. Instead, minimize total cost. Move toward a single supplier for any one item, on a long-term relationship of loyalty and trust. Point 4 in Dr. W. Edwards Deming’s 14 Points for Management This point is one of the less controversial points (at least […]

Clayton Christensen on Innovation and Macro Economics

Clayton Christen takes look at the macro-economic impacts of innovation in this lecture at Oxford University. He discusses disruption innovation (creating new markets for complex expensive products: for example, from mainframe computer to personal computer to smart phone), sustaining innovation and efficiency innovation. He explains that disruption innovation increases employment as the market expands and […]