One method of deciding or not a firm should accept an investment project is to determine the net present value of the project. The net present value (NPV) of a project is equal to the present value of the expected stream of net cash flows from the project, discounted at the firm’s cost of capital, [...]

Lean Production is a system of production developed in the production of automobiles. Originally developed for Toyota and by Toyota, it is also known as the Toyota Production System (TPS), and also the ‘just-in-time’ production system. This system of production owes its conception to an engineer Taiichi Ohno who was working with Toyota. He focused [...]

Value stream mapping is a ‘lean manufacturing’ system utilized to understand the flow of information and products to the customer. The system originated in the Toyota factory where it was termed as ‘material and information flow mapping’. This terminology is used in the process/processes that need improvement. This is a helpful method that can be [...]

Assertiveness is the ability to honestly share your beliefs, opinions, feelings, and rights without anxiety. This means that you should be able to share your thoughts without feeling worried, nervous, or guilty. If you sense that you are not in a job setting that values honesty, you need to consider whether you want to commit [...]

There is only one way to attain engaged employees: make them feel important. That should be easy because they are important! After all, if an employee is not important, it means they are not contributing to the success of the company and then, by definition, they should not be an employee. It therefore makes sense [...]