Creating Sustainable Wealth in Your Life and in Your Business

Posted on Leave a commentPosted in Human Capital, Innovation Capital, Social Capital, Spiritual Capital, The New Capitalism

Wealth Founded on Values and Worthy Purpose Over the past several years I have been working on a book analyzing the process of creating genuine and sustainable wealth. I have just turned this into a course on Udemy titled Creating Wealth in Your Life and Your Business. This is no “get rich quick” course and it does not tell you how to make money in any specific business. Rather, it presents the real personal qualities and capabilities demonstrated by those who […]

Social Capital: Families and Teams Form the Social Capital of Our Culture

Posted on 10 CommentsPosted in Corporate Culture, Lean Culture, Lean Management, Social Capital, Team Development, Toyota Production System

Healthy families in which there is high trust result in high academic performance. This is “family social capital.” Similarly, the team at the first level is the foundation of social capital in the organization. This social capital is a key factor in generating continuous improvement and achieving high job satisfaction and retention of employees.

George Washington, Unity and the Spirit of Party

Posted on 3 CommentsPosted in Corporate Culture, Leadership, Lean Management, Managing Change, Social Capital

We need to have a serious conversation, not simply about the budget or the healthcare law, all of which can be improved, but about the unity of the country and the spirit of party about which we were well warned in the infancy of this nation. Washington was passionate about this one principle of unity and he could see that the greatest threat to our country was not external forces, but internal division. He could see that division would lead to “parties” and those parties would develop a spirit that would be a cancer to the country.

Fast Cycle Lean and the Rebirth of American Manufacturing at GE’s Appliance Park

Posted on 5 CommentsPosted in Corporate Culture, Human Capital, Leadership, Lean Culture, Lean Management, Lean Manufacturing, Organization Design and Process Improvement

The return of jobs by GE to its Louisville Appliance Park is the best evidence yet of a new trend and it is important that every company engaged in manufacturing consider the key elements that make this a sound business decision. It is an example of “macro-lean”, the creation of processes that unite major functions in the organization.

Goldman Sachs and the Money vs. Morality Debate

Posted on 14 CommentsPosted in Corporate Culture, Corporate ethics, Corporate Social Responsibility, Leadership, Lean Culture, Lean Management, Social Capital, The New Capitalism

Yesterday, a young executive at Goldman Sachs, Greg Smith, resigned in a very public way. He wrote an op-ed in the New York Times titled “Why I am Leaving Goldman Sachs.” In essence he accused the leadership of Goldman Sachs of destroying the internal moral fiber of the firm, putting profit before meeting the needs of customers, and he cited the open contempt that Goldman personnel feel toward their clients. It is a sad commentary. The readers of this blog […]

Goldman Sachs and the Need for Hangings in the Village Square

Posted on 8 CommentsPosted in Corporate Culture, Corporate ethics, Corporate Social Responsibility, Leadership, Spiritual Capital

The child like and pseudo religious belief that the free market will, by itself, right all wrongs in time, a belief adhered to by Alan Greenspan and other groupies of Ayn Rand, is at the heart of our financial crisis and the crisis of capitalism. This Greek tragedy was played out at Enron, Lehman Brothers, and now Goldman Sachs and BP. The question is whether corporate executives are capable of adhering to principled behavior in the absence of punishment of significant severity to balance out the significance of potential rewards for unprincipled behavior.

Lean Politics: Give Up Ideological Waste

Posted on 8 CommentsPosted in Corporate ethics, Corporate Social Responsibility, Lean Management, The New Capitalism

The environmental disaster in the Gulf of Mexico is in part the result of political/ideological waste. Lean management focuses on the elimination of waste from manufacturing and other processes. Lean managers develop a keen sense for what adds value and everything else is waste. There is some mass schizophrenia when it comes to the role of government and the private sector. This madness is a complete waste of resources and is itself responsible for many of our problems. It is past time to get beyond this madness.

Morgan Stanley and the Global Financial Village

Posted on Leave a commentPosted in The New Capitalism

If you doubt that we are decisively entering the age of a global financial village note the following from the WSJ weekly summary: So, now the great Morgan Stanly is largely owned by a Japanese bank and by the U.S. government. But, the CEO of Morgan Stanley was also quoted this week as saying (to the horror of some): “What we don’t have and what we need is a global financial regulator. These problems cannot be solved by any nation […]