Occam’s Razor

The common interpretation of Occam’s Razor is that when all other things are equal, the simplest solution is probably right. More accurately, but in less common use, Occam’s Razor says that one should choose the hypothesis that makes the fewest new assumptions. In either case, Occam’s Razor is a tool Read more…

Objective vs. Subjective

Being able to recognize objective vs. subjective information is an important skill for individuals in Lean companies. Objective vs. Subjective Definitions Objective: Information or data that is based in fact. Often numerical. Can be verified by an independent third party. Example: Math tests. Subjective: Information or opinions that are open Read more…

Negotiation

Negotiation is simply the process of discussing something of mutual interest and agreeing to terms. Negotiations typically involve tradeoffs. One side gives something of value to the other site to get something of value in return. Negotiations may be conducted for a one-time transaction, or for an ongoing relationship. The Read more…

Predictability

At the heart of standardization is predictability. Standardization provides a predictable pace, predictable quality, and a predictable lead time. This predictability allows managers to make better plans. It allows marketers to make more accurate promises. And it allows employees to have a steady, reasonable pace throughout the day. Core Lean Read more…