Currently viewing the tag: "Errors"

Problem Restatement: A Key to Problem Solving

On April 17, 2011 By Byron

All of us regularly make mistakes of judgment based on faulty analysis – mistakes as minor as buying the wrong brand of cereal to as major as investing a million dollars in a losing enterprise.  While some of these errors can be blamed on lack of information or education, most occur because of the way [...]

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Is Being Right 99.9% of the Time Good Enough?

On April 9, 2011 By Byron

Being right only 99.9% of the time would result in: –       2,000,000 Documents Lost by IRS –       16,000 Pieces of Mail Lost Every Day –       22,000 Wrongly Debited / Credited Checks Per Hour –       1,314 Wrongly Connected Phone Calls Per Minute –       20,000 Incorrect Drug Prescriptions Per Year –       12 Newborn Babies Given to Wrong [...]

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Take a Waste Walk!

On March 13, 2011 By Byron

Wasteful activity can be found in almost any business process.  These activities cost you and your business valuable time, energy, and money.  The first step to reducing such wasteful activities is to be able to identify them.  There are eight common wastes found in most businesses.  These are:  Extra Work – Work that the customer [...]

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