The New Economics for Industry, Government, Education (MIT Press) 2nd Edition, Kindle Edition
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What intrigues me greatly is that a book that was written 30 years ago still make sense now even though we have an exponential advancement in technology and manufacturing. This just means that we have not improve at all since 30 years ago. For a leader, this book does not only guide you along to achieve good management skills but also enlighten you on to be more attentive towards value of teamwork and continuous improvement. Not everyone will be a leader but this book can/will make you better one. Even if you are not, it will make you a better person.
This book taught me to see businesses, government and education different. One of his main points is to cooperate and with cooperation we can grow and improve in a better and more positive rate. I like this book because it teaches a person a challenging thought of going against the norm. What I think is interesting is when Deming challenges the concept of competition and instead encourages cooperation. Ever since we began school at the age of four or five, we were always rewarded for doing good and “sticking out” amongst our other peers and it’s been tailored like that ever since. Even now when we are applying for jobs, our resumes are in competition with our peers. I do agree with Deming’s belief in cooperation however, I also think that this only applies to the people that are willing to cooperate. In my opinion, the audience that Deming speaks to are those that are willing to learn and grow together as a society. And this is actually mentioned in the book where he discusses that the desire to learn is what can contribute to the growth of our society and advancement.
In this book Deming lays out what management needs to improve on, they need to make a transformation and standardize in a new way of understanding Profound Knowledge. There has to be an appreciation for the system: what their system is, all the system’s components and how these components of the system affect one another. Knowledge about the different types of variation from common to special causes and what it means for a system to be stable. Most of all Profound Knowledge requires that management understand that not all people are the same. People vary from one another and knowledge has the ability to optimize people’s abilities and capabilities but only if it is learned and applied correctly.
Throughout the rest of the book Deming goes over many examples, experiments and systems to further emphasize his argument on how management is capable of being the turning point of a business’ future but his explanation on knowledge and its significance is the most important and first initial lesson any prospective student should know. And that’s what I feel Deming’s purpose of writing this book was, it’s more a guide or preparation text for students and those who want to join the industry so that they come in with the right knowledge and perspective to bring this era to the future.