Economies are measured by their output and outputs are measured using production functions. There are two ways to increase an economies’ output. First, try to increase the inputs (labour or capital) to the production cycle, thereby ascending up the same production function. …


And the rise of Toyota Motor Corporation

“1942 Pontiac on Assembly Line” by aldenjewell is licensed under CC BY 2.0

By the early 1980s, the world had realized there was something special about Japanese management practices, particularly in manufacturing. Their products lasted longer and required much less maintenance. Japanese manufacturers were able to produce more at better quality while remaining cost competitive to their counterparts across the Pacific.

At that…


Bain Management Tools & Trends survey, 2017

“Shop” by Kamil Porembiński is licensed under CC BY-SA 2.0

Business management tools are methods used by organizations to improve their performance. There are a plethora of tools for each aspect of management. Planning tools such as scenario planning, process tools such as six sigma, and decision-making tools such as decision trees.

Since 1993, Bain & Company has surveyed business…


Business and Marketing

IBM in 1976 occupied 80% market share in the mainframe computer segment of the commercial computer business, which was a $20 billion industry. Its offerings spanned the complete range of commercial and scientific applications from large to small. In its entire history, IBM never had more than two senior executives…


In May 1865 a 27-year-old engineer obtained a permit and started a small pulp mill in a remote corner of his country. After a successful exhibition at the 1867 Paris World Fair, the young company started receiving orders from across Europe. Sensing an opportunity during World War 1, the company…


Source

Punjab in August of 1947 was the most violent place on the surface of the earth. Under the burden of partition, communal passions had been let loose. Viceroy Mountbatten’s task force of 55,000 heavily armed professional soldiers was unable to maintain peace. Twelve of Punjab districts were aflame covering an…


Source

From its inception by George Eastman in 1888, Kodak followed the razor and blades business model of selling inexpensive cameras and making large margins from consumables. As of 1976, Kodak commanded 90% of film sales and 85% of camera sales in the US. …


Business and entrepreneurship

Tokyo Tsushin Kogyo in its early days

In 1946, Masaru Ibuka left his position at a photochemical laboratory to start a radio repair shop in a bombed-out building in Tokyo. Soon after, he co-founded Tokyo Tsushin Kogyo with his friend Akio Morita and a total of eight employees involved in the business of magnetic recording tape. In…


The East India House in Leadenhall Street, London, c. 1817

A business is any activity entered into for-profit, and humans have engaged as such since time immemorial with artifacts of trade and commerce found at Ebla dating back to 3000 BC. The story of business is the story of inventors, entrepreneurs, and visionaries. It is the story of ideas such…

Manav Dhiman

MBA — Mechanical Engineer, curious !

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