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Is Investment a Justification for Price Hikes?
There is an increasingly common trend for businesses to blame price increases on their investments in new equipment, systems, or facilities. But is this an acceptable reason to adjust pricing? No, not in the past, not in the future, and most definitely not today (more on that later). This shallow pricing justification places an undue…
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A Meaningful Goal
Embarking on the Theory of Constraints begins with the identification of a Meaningful Goal or the recognition of an Existential Crisis . When setting the starting point, prioritizing the overall long-term objective is crucial. Look at aspirations that align with the sustained success and growth of your business. Whether it’s achieving market leadership, fostering innovation,…
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The Theory of Constraints
Exploring the Theory of Constraints (TOC), a management philosophy developed by Eliyahu M. Goldratt, offers a systematic approach to identify and exploit constraints in production and business processes. Essential to TOC are the Thinking Processes, a set of tools designed for solving and decision-making. These processes, comprising the Current Reality Tree, the Evaporating Cloud, and…
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