Dec 13, 2018
In episode 116 of Financially Simple, Justin looks at the history of Operations Management.
Business and Industry has come a long way since the Industrial Revolution in the early 20th Century, with advancements in technology as well as the Operational Processes that manage them. Justin gives a brief history of the development of Operations Management over the last 100 years - looking at the key points of the evolution of Operations, and where it’s headed next.
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ARTICLE TRANSCRIPT: BLOG: The Evolution of Business Operations Management
00:43 - The History of Operations Management
01:32 - The Principles of Scientific Management
02:34 - Assembly Line/Parts Standardization
03:41 - Method-Time Measurement
05:52 - Toyota Production System
06:58 - Six Sigma
08:10 - ISO 9000
08:39 - Lean Operations
10:03 - The 5 Key Principles of Lean
10;46 - 8 Waste Obstacles of the Lean Process
13:26 - Business Process Re-Engineering
13:49 - 7 Components of Business Process Re-Engineering
18:44 - Next Generation Risk Management
22:08 - Summary
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Justin A. Goodbread, CFP®, CEPA,
CVGA, is a nationally recognized financial planner, business
educator, wealth manager, author, speaker, and entrepreneur. He has
20+ years of experience teaching small business owners how to
start, buy, grow, and sell businesses. He is a multi-year recipient
of the Investopedia Top 100 Advisor and 2018 Exit Planning
Institute’s Exit Planner Leader of the Year.
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