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Entrepreneurship is the creation or extraction of economic value in ways that generally entail beyond the minimal amount of risk (assumed by a traditional business), and potentially involving values besides simply economic ones. An entrepreneur (French: [ɑ̃tʁəpʁənœʁ]) is an individual who creates and/or invests in one or more businesses ...
Lean startup. Lean startup is a methodology for developing businesses and products that aims to shorten product development cycles and rapidly discover if a proposed business model is viable; this is achieved by adopting a combination of business- hypothesis -driven experimentation, iterative product releases, and validated learning.
As a process of designing. An iterative, non-linear process, design thinking includes activities such as context analysis, user testing, problem finding and framing, ideation and solution generating, creative thinking, sketching and drawing, prototyping, and evaluating. Core features of design thinking include the abilities to: employ non ...
The basic concept is to identify and quickly remove waste. Another approach is that of the kaizen burst, a specific kaizen activity on a particular process in the value stream. [27] In the 1990s, Professor Iwao Kobayashi published his book 20 Keys to Workplace Improvement and created a practical, step-by-step improvement framework called "the ...
Business process discovery (BPD) related to business process management and process mining is a set of techniques that manually or automatically construct a representation of an organisations' current business processes and their major process variations. These techniques use data recorded in the existing organisational methods of work ...
The engineering design process, also known as the engineering method, is a common series of steps that engineers use in creating functional products and processes. The process is highly iterative – parts of the process often need to be repeated many times before another can be entered – though the part(s) that get iterated and the number of such cycles in any given project may vary.
Business process re-engineering (BPR) is a business management strategy originally pioneered in the early 1990s, focusing on the analysis and design of workflows and business processes within an organization. BPR aims to help organizations fundamentally rethink how they do their work in order to improve customer service, cut operational costs ...
5S (methodology) 5S (Five S) is a workplace organization method that uses a list of five Japanese words: seiri (整理), seiton (整頓), seisō (清掃), seiketsu (清潔), and shitsuke (躾). These have been translated [by whom?] as 'sort', 'set in order', 'shine', 'standardize', and 'sustain'. [1] The list describes how to organize a work ...