The book makes one thing very clear - When you are in manufacturing, you ought to 'make money' (we at ITC have the goal of 'creating value'). Its a nice guide for new kid-managers like me. The terms are defined and explained very clearly. And concepts put across very vividly. And all this is wrapped in a nice fiction story of a Plant Manager who has to turn around his plant to save it from the axe.
Here are some quick learnings to be grabbed from the book. Throughput is the rate at which the system generates money through sales. Inventory is all the money that the system has invested in purchasing things which it intends to sell. Operational Expense is all the money the system spends in order to turn inventory into throughput. And if you are in a manufacturing plant, this is all you should worry about - increasing throughput, decreasing inventory and decreasing operational expense. All this, simultaneously.
And once you have got your basics clear, here is a quick process to be followed that Goldratt feels he should emphasise.
1. Identify the system's constraints
2. Decide how to Exploit the system's constraints
3. Subordinate everything else to the above decision
4. Elevate the system's constraints
5. Warning! If in the previous steps, a constraint has been broken, go back to step 1, but do not allow Inertia to cause a system's constraint.
The book ends on a thoughtful note. He suggests what a Manager ought to do. What to change? What to change to? And how to cause the change?
A very nice first person narration that I came across. Its about this depressed teen, Holden Caulfield, who almost hates everybody around him (dont all of us do that at some point of time in our teens?). There are a lot of instances in the book which you would relate to from your daily life. Especially all those phoneys Holden keeps meeting. Its fun to read and connect. I wish I read this book 6-7 years ago.
I will remember the book for some very witty statements like I dont know what I mean, but I really mean it. And of course, a very deep statement that should be helpful to all youngsters - The mark of the immature man is that he wants to die nobly for a cause, while the mark of a mature man is that he wants to live humbly for one.
Biographies of eight Indian businessmen who changed lives of hundreds of men, including their own. Featured in this book are inspiring stories from the lives of Dhirubhai Ambani, Rahul Bajaj, Aditya Vikram Birla, Ram Prasad Goenka, Brij Mohan Khaitan, Bharat and Vijay Shah, Ratan Tata. Must read for that wanna-be-entrepreneur to light up the fire in his/her belly.
Frankly, I never got a chance to read this book earlier. So on one of my visits to Bangalore Blossoms, I decided to pick it up. It was not a bad decision. Brilliant in its tight story and climaxes, it is definitely a page turner. And I am happy I saw the movie after reading the book. I don't think I would have enjoyed the movie so much if I did not read the book before watching it. Movie or book? Book, anyday.
Its a french classic translated into several languages including English. A 100-page book in large font, it will take you weeks to read it and soak it in. Simply beautiful. Some of the lines from this book go like this:
Now here is my secret. It is very simple. It is only with one's heart that one can see clearly. What is essential is invisible to the eye ... It is the time you lavished on your rose which makes your rose so important ... Men have forgotten this basic truth, but you must not forget it ... Grown-ups are really very very odd.
William Dalrymple teaches you see things with a new eye and mind - even if it's your own backyard. He teaches you to travel. And while doing this, he converts the most staunch haters of Delhi to it's new lovers.