Asset

In accounting terms, an asset is an economic resource owned by a company or individual. Assets hold value because of the future benefit they can bring. An asset may fall into two categories—tangible and intangible. Tangible assets are what you would expect. Stuff you can touch—buildings, vehicles, machines, etc. Tangible Read more…

Patterns

A pattern is essentially a recurring “thing”. It could be behaviors, defects, markings, traffic, or anything else that can be observed or monitored. The relevance to Lean is that the pattern is caused by something. Pure randomness is actually surprisingly uncommon in nature, and even less common in the workplace. Read more…

Groupthink

Groupthink is the condition in which individuals set aside their beliefs and concerns to conform to group opinion. This is most commonly done because people value the cohesion of the group more than the risk of a poor outcome. While the term was first coined by William H. Whyte in Read more…