Henry Ford was an American industrialist and the founder of the Ford Motor Company. His innovative approach to manufacturing made cars accessible to ordinary people, revolutionized industry and caused the explosion of mass production. He doubled his workers’ salaries, introduced the division of labor and indirectly caused the development of mass consumption. In just 50 minutes, you will find out how...
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Understand the essentials of Kaizen (also known as continuous improvement or incremental improvement) in just 50 minutes with this practical and concise book. The Japanese concept of Kaizen is used in business to improve output quality in the production line. It has proven to be an extremely effective approach, as it allows companies to improve productivity and product quality by optimizing the production...
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Understand the essentials of the law of diminishing returns (also known as the law of variable proportions, principle of diminishing marginal productivity or diminishing marginal returns) in just 50 minutes with this practical and concise book. Developed by the influential British economist David Ricardo, this fundamental economic law demonstrates that, if the quantity of a given factor of production is increased, the marginal...
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Understand the essentials of the theory of comparative advantage (also known as the law of comparative advantage or the law of relative advantage) in just 50 minutes with this practical and concise book. This theory, which was developed by the renowned economist David Ricardo, illustrates that specialization and trade benefit both parties in the exchange and generate wealth. It maintains that comparative...
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