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Lean enterprise is a practice focused on value creation for the end customer with minimal waste and processes. [4] The term has historically been associated with lean manufacturing and Six Sigma (or Lean Six Sigma) due to lean principles being popularized by Toyota in the automobile manufacturing industry and subsequently the electronics and internet software industries.
Lean thinking is a management framework made up of a philosophy, practices and principles which aim to help practitioners improve efficiency and the quality of work. Lean thinking encourages whole organisation participation. The goal is to organise human activities to deliver more benefits to society and value to individuals while eliminating ...
The term Lean was coined in 1988 by American businessman John Krafcik in his article "Triumph of the Lean Production System," and defined in 1996 by American researchers James Womack and Daniel Jones to consist of five key principles: "Precisely specify value by specific product, identify the value stream for each product, make value flow ...
The principles of the Toyota Way are divided into the two broad categories of continuous improvement and respect for human resources. [7] [8] [9] The standards for constant improvement include directives to set up a long-term vision, to engage in a step-by-step approach to challenges, to search for the root causes of problems, and to engage in ongoing innovation.
Lean Project Management applies the five principles of lean thinking to project management. [4] "Lean" is a systematic method for the elimination of waste ("Muda") within a manufacturing system. Lean also takes into account waste created through overburden ("Muri") and waste created through unevenness in work loads ("Mura"). Working from the ...
Business ethics operates on the premise, for example, that the ethical operation of a private business is possible—those who dispute that premise, such as libertarian socialists (who contend that "business ethics" is an oxymoron) do so by definition outside of the domain of business ethics proper. [citation needed]
The term "lean" was first coined by a researcher at MIT and later popularized by the best-selling book, The Machine that Changed the World (1990). [9] Those implementing lean principles generally focus on applying lean tools which have been described in a number of references over the past two decades [10] [11] [12] with the focus of seeking out and directly targeting "waste" (its seven forms ...
Lean product development (LPD) is an approach to product development that specializes in minimizing waste. Other core principles include putting people over the product and creating new values in services and physical products. [1] This method of product development has been adopted by companies such as Toyota