Tag: Business
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DIFFERENCE BETWEEN RESPONSE AND REACTION
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Story of a Meditating Monk and an Empty Boat A monk decides to meditate alone, away from his monastery. He takes his boat out to the middle of the lake, moors it there, closes his eyes and begins his meditation. After a few hours of undisturbed silence, he suddenly feels the bump of another boat…
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OEE (Overall Equipment Effectiveness)
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“Efficiency is doing things right; effectiveness is doing the right things.” – Peter Drucker Introduction For the connoisseurs of Cricket, both ‘Run rate’ and ‘playing for complete 50 overs’ is important. The run rate helps the team to build the pressure on the other team while playing for the full 50 overs not only tires the…
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SIPOC Diagram
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“If you define the problem correctly, you almost have the solution.” – Steve Jobs Introduction The term ‘Life Skills’ refers to the skills you need to make the most out of life. Any skill that is useful in your life can be considered a life skill. There are five key life skills which include communication, interpersonal…
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TURTLE Diagram
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“All we are doing is looking at the timeline from the moment a customer gives us an order to the point we collect the cash. And we are reducing that timeline in the value stream by removing non-value-added wastes.” – Taiichi Ohno Introduction When we plan to go for a vacation, we plan everything in detail.…
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PESTLE Analysis (Political, Economic, Social, Technological, Legal, Environmental)
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“When you feel like hope is gone, look inside you and be strong and you will finally see the truth that hero lies in you.” – Mariah Carey, Singer Introduction When India got freedom from the Britishers in 1947, on one side the entire country was beaming with happiness & ecstasy and on the other hand,…