The essential complement to the path breaking book Competitive Strategy, Michael E. Porter's Competitive Advantage explores the underpinnings of competitive advantage in the individual firm.
Competitive Advantage introduces a whole new way of understanding what a firm does. Porter's groundbreaking concept of the value chain disaggregates a company into "activities," or the discrete functions or processes that represent the elemental building blocks of competitive advantage.
Businesses worldwide are successfully implementing the Toyota Production System to speed up processes, reduce waste, improve quality, and cut costs. While there is widespread adoption of TPS, there is still much to be learned about its fundamental principles.
From the brilliant mind of a legend in the Lean Manufacturing world comes the reasoning behind the importance of using your intellect, challenging your workers and why continuous improvement is not only a helpful tool but a necessity on the shop floor.
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It's easy to imagine a nightmare scenario in which computers simply take over most of the tasks that people now get paid to do. The unavoidable question—will millions of people lose out, unable to best the machine?—is increasingly dominating business, education, economics, and policy.