One Minute Summaries: 1996 – Lean Thinking – Womack and Jones

One Minute Summaries: 1996 – Lean Thinking – Womack and Jones

Blue Ocean Strategy builds on and fuses together the collective wisdom of some of the greatest ideas, concepts and frameworks throughout history on the topic of business strategy, human motivation, and leadership. Every few days, we present to you a One Minute Summary of a single influential work in chronological order. After a work is featured, it will be posted to the 'One Minute Summaries' section, where you can reference the whole collection of concepts leading up to the present. And now we present our next installment in the OMS series:

One Minute Summaries: 1996 – Lean Thinking – Womack and Jones

Banish waste and create wealth in your corporation
Lean thinking versus waste (muda)
Value – product / service that meets customer needs
The value stream – set of tasks to deliver to the customer
Flow – mapping the flow of the value stream
Pull – the pull of product / service through the value stream
Perfection – the ultimate eliminate of waste

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