On a daily basis organizations strive to achieve maximum output with minimum input for greater levels of efficiency and profitability. However, in our dynamic modern world and economy the variables have changed dramatically and the time when business was simply about the ‘bottom line’ and all else was subordinate to the objective of profit, has come and gone. In the contemporary world of business today the variables are much broader and more dynamic, as people are no longer just employees, and suppliers are no longer people whose payment should be delayed for as long as possible. In addition, the environment is no longer to be plundered at all costs. Today Lean as an all-encompassing management philosophy with its emphasis on adding value, is more relevant in business than at any other point in business history. At a time when the global economy is facing some of its greatest challenges, it is ultimately business and its networks that, through effective management, can restore the global economy and provide livelihoods to millions of people. The Lean management philosophy is about constantly searching for the best possible way of doing things and eliminating waste in pursuit of value. If Lean is in pursuit of eliminating waste and turning it into value, and the customer, irrespective of required product, is in constant pursuit of finding value, then Lean is surely the management philosophy that can deliver the greatest level of customer satisfaction. This means satisfied customers returning to an organization for repeat sales as long as they perceive that the value they derive meets their expectations.
| Identifer | oai:union.ndltd.org:netd.ac.za/oai:union.ndltd.org:nmmu/vital:8781 |
| Date | January 2013 |
| Creators | Andrews, Ferderico Recardo |
| Publisher | Nelson Mandela Metropolitan University, Faculty of Business and Economic Sciences |
| Source Sets | South African National ETD Portal |
| Language | English |
| Detected Language | English |
| Type | Thesis, Masters, MBA |
| Format | x, 139 leaves, pdf |
| Rights | Nelson Mandela Metropolitan University |
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