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Seven wastes of negotiation: Difference between revisions
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{{a|design| | {{a|design|<youtube height = "200"; width="300">https://www.youtube.com/watch?v=FU-tuY0Z7nQ</youtube> | ||
{{image|1968 Toyota Corolla 1100 Deluxe|jpg|A cross-border, multi-currency [[Toyota Corolla|Corolla]] yesterday.}}}}What do you get the [[legal eagle]] who has everything? A spirited comparison of [[ISDA negotiator|ISDA negotiation]] car manufacturing, of course. | |||
Now it is well-known that the ISDA negotiation process works like a production line at British Leyland in 1978. | |||
The [[Toyota Production System]] (TPS) was created by Toyota’s chief engineer [[Taiichi Ohno]] to eliminate [[waste]], called “muda.” [[Waste]] — as opposed to ''{{wasteprov|cost}}'', is the enemy on any production line: a process that is ''inherently necessary'' must add value, even if it is expensive<ref>If you can’t configure it so it costs less than the value it adds, consider why you are running the process ''at all'': you have a loser of a business.</ref> so you should be cool about paying a fair value for it. | |||
Processes which do ''not'' add value are inherently wasteful. The job is to eliminate waste, not {{wasteprov|cost}} ''[[per se]]''. To get rid of waste, you have to know exactly what waste is and where it exists. Ohno-sensei categorised [[seven wastes|seven types of waste]] and for each one, suggested reduction strategies. | Processes which do ''not'' add value are inherently wasteful. The job is to eliminate waste, not {{wasteprov|cost}} ''[[per se]]''. To get rid of waste, you have to know exactly what waste is and where it exists. Ohno-sensei categorised [[seven wastes|seven types of waste]] and for each one, suggested reduction strategies. | ||