About this Presentation
This presentation is an interview by Alex Knight of Dr. Goldratt about measurement. How is a goal defined? How might we measure success towards moving to the goal? How might we define the goal and measures for a for-profit versus a for-purpose environment? Never ever put certainty on uncertainty. Story of Lamore Winter: What is your goal in life? Lamore: To make sure that people do not need illness. If you keep asking: What for? And you keep getting the higher objective you think it will go on indefinitely but you get to the different identicals. Here you are back in a circle each leading to another in the circle. In some cases it is three identicals in some cases it is more. Here all there are identicals in achieving the goal. For-profit organizations, make money now and in the future; provide satisfaction to customers now and in the future and provide satisfaction and security for employees now and in the future. Many things in life cannot be quantified. In this set of identicals there is one maybe two that cannot be quantified. What is quantified takes precedence over non-quantified identicals. People are using measurements instead of thinking. People prefer quantitative over qualitative measures. When uncertainty is involved in decision making, probabilities must be associated with outcomes.
What Will You Learn
To help you get the most value from this session, we’ve highlighted a few key points. These takeaways capture the main ideas and practical insights from the presentation, making it easier for you to review, reflect, and apply what you’ve learned.
IBM's services division has evolved significantly over the years, with more than half of IBM's revenue today coming from services.
Goldratt's Theory of Constraints can be applied to improve services business, particularly in resource and project management.
Critical Chain Project Management can be used in conjunction with replenishment for services to manage multiple projects while accommodating customer's desired dates.
Instructor(s)
Eliyahu M. Goldratt
Ms Alka Wadhwa
Alka Wadhwa is an experienced consultant and process improvement expert with over 24 years of expertise in the Theory of Constraints (TOC), Lean Six Sigma, and organizational performance optimization. She has successfully led projects in healthcare, financial services, and manufacturing, driving significant improvements such as a 67% boost in hospital operations and a 140% increase in outpatient visits.
Previously, Alka Wadhwa spent 17+ years at GE Global Research Center, where she led initiatives to enhance various GE businesses through advanced technologies, process redesign, and system optimization. Founder of Better Solutions Consulting, LLC, she specializes in using TOC, Six Sigma, and data analytics to streamline operations and build high-performance teams.
Her work has earned her multiple accolades, including the Empire State Award of Excellence in healthcare.
Dr Gary Wadhwa
Dr. Gary Wadhwa is a Board Certified Oral & Maxillofacial Surgeon with extensive experience in the field. He completed his Oral & Maxillofacial Surgery training at Montefiore Hospital, Albert Einstein College of Medicine in Bronx, NY, and has served as an Attending at prestigious institutions like St. Peters Hospitals, Ellis Hospital, and Beth Israel Hospital in NY. With a career spanning over two decades, he was the former CEO and President of a group specialty practice in NY from 1994 to 2015. Dr. Wadhwa holds an MBA from UT at Knoxville, TN, and has undergone additional training in System Dynamics at MIT, Health System Management at Harvard Business School, and Entrepreneurship and healthcare innovations at Columbia Business School. Committed to expanding access to Oral & Maxillofacial Surgery care, he is currently engaged in a meaningful project to provide healthcare services to underserved populations in inner city and rural areas through non-profit Community Health Centers.