Tag Archives: tradeoffs

We Too Often Ignore The Tradeoff Between Innovation And Optimization

For decades, managers have been focused on efficiency. From Frederick Winslow Taylor and his Principles of Scientific Management early in the 20th century to more modern practices like Six Sigma, executives continually honed their operations to achieve maximum productivity at minimal cost. For the most part, this type of approach can be amazingly effective. Even a relatively small improvement of ...

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