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One of the most important business concepts of the late 20th century was Six Sigma as promoted by General Electric CEO Jack Welch. Six Sigma at many organizations simply means a measure of quality that strives for near perfection. Six Sigma is a disciplined methodology for eliminating defects in any process ' from manufacturing to transactional law. Six Sigma training and practices are still commonplace in many Fortune 500 corporations. Following this efficiency explosion, LEAN Processing, as developed by Toyota, is without question the most important approach to business process of our times. Toyota lives this approach every day, which is why it will soon be the largest, most successful car company in the world.
Two Magic Words
LEAN Processing essentially comes down to two words: “Kachi” and “Muda.” For those who don't speak Japanese, kachi means value, and muda means waste. To simplify this even further, your job as a well-paid professional in your firm is twofold. It is to use your time, intelligence, and experience to simultaneously increase value and eliminate waste for both your clients and your firm. By increasing value and eliminating waste, you instantly increase your firm's profits and your client's satisfaction.
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