...Lean Start-Ups and Creating an Entrepreneurial, Innovating Economy Missouri Southern State University Abstract Whenever a new venture creation business starts, whether it be a brand new company to a previously established business looking to expand its horizons, failure is almost inevitable. But, thanks to the lean start-up business model, success rates have been increasing and showing great results. The lean business model provides, in a way, a safety net during the testing the hypotheses stages of a new venture to where if failure is detected, corrective action can be taken immediately with minimal risk involved due to testing. In today’s economy, employment can be tricky, thus creating an environment where new venture creation along with a lean business model can help to create an entrepreneurial, innovating economy. Lean Start-Ups and Creating an Entrepreneurial, Innovating Lean start-ups are becoming more popular, spreading from just young tech ventures to big, already established companies due to better rates of success compared to traditional business models. When companies use lean business models, they lead the way for an economy that becomes based off of innovation. This paper will discuss lean start-ups and the process of creating an entrepreneurial, innovating economy. Schemerhorn and Bachrach (2015) states three stages to the life cycles of entrepreneurial firms that all entrepreneurs encounter. Those stages being the birth, breakthrough and maturity...
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...needed for combustion. It has several adjustments. A rotating throttle arm controls the AMOUNT of fuel and air that enters the combustion chamber. The high- speed needle valve controls the MIX or proportions of fuel vs. air at mid- to high-speeds. The idle mixture screw is similar to the high-speed needle valve, except that it controls the mix of fuel and air when the engine is only idling. When you've adjusted the highspeed and idle mixtures properly, your engine should operate smooth and steady throughout its speed range. Glow plugs A gasoline combustion engine uses a spark plug to ignite the fuel- air mixture within the compression chamber, so a glow or nitro engine uses a small glow plug. Although the plug needs to be heated up using a glow plug igniter initially, once the engine is running, the heat generated within the combustion chamber keeps the plug glowing constantly and is thus able to ignite the fuel-air mixture on each revolution. Precaution: Glow plugs can fail at any time, so it's always better to have a selection of spare ones with you. Fuel Glow engines cannot be operated with the same gasoline you'd get at a filling station pump. They require a special fuel, called "glow fuel." It contains methanol as the base, with varying amounts of nitro methane...
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...Supply Chain Management Workshop Series: Milk Run Delivery Nowadays, Supply Chain Management becomes a concern of many companies to success their improvement as there are several waste coming from these chains. By reducing all waste in these chains, company will get more benefit. These benefits are speed and responsiveness to customers, reducing inventories, reducing costs, improving customer satisfaction, and also Supply Chain as a competitive weapon. Supply chains that want to grow and continue to improve must adopt lean. Lean is a cooperative process for survival and for success. Lean concepts require an attitude of continuous improvement with a bias for action. A lean supply chain is proactive and plans for the unexpected by positioning all resources for effectiveness. Downturns in demand can be addressed without layoffs or significant productivity losses. A lean supply chain is one that produces just what and how much is needed, when it is needed, and where it is needed. Gaining visibility into your transportation operations all the way from raw materials vendors to your end customers will open the door for communication, process development, and management skills that can be leveraged in other areas like inventory management and procurement. A bonus is that many of the more advanced supply chain visibility tools gaining rapid acceptance in the marketplace are either part of a suite of applications that combines Warehouse Management System (WMS) and Transportation Management...
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...builder, but I honestly do not compete, but I am in physical shape and pretty healthy. Over the years I have defined a perfect diet for my health, and has not changed in about three years, but if I do compare diets from seven weeks ago, it has changed quite drastically. During the first week of the course I had explained how during the next few months I am in the stage of the year where we as body builders call it, lean time. Lean time is where I cut down on my ingestion levels for the sacrifice of losing weight. With dropping the intake level it makes or forces the body to feed off the excess and storage the body absorbed during the bulk months. In my lean months I focus on cutting the calorie intake and including excess amounts of repetitions during my workout and lessen the weight. This means more exercises with less weight, which leans the muscle out and burns the fat around it. The more weight less repetitions during a workout will increase muscle size. The first week of the course I was ingesting roughly 900 calories a day, including my typical lean out diet. My lean out diet focuses on ingesting one cup of yogurt a morning for breakfast. For lunch I eat two rice cakes with peanut butter and banana slices over top. Finally for dinner I eat one whole cup of rice and four ounce skinless...
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...Assembly Automation Emerald Article: Fundamental mindset that drives improvements towards lean production Yuji Yamamoto, Monica Bellgran Article information: To cite this document: Yuji Yamamoto, Monica Bellgran, (2010),"Fundamental mindset that drives improvements towards lean production", Assembly Automation, Vol. 30 Iss: 2 pp. 124 - 130 Permanent link to this document: http://dx.doi.org/10.1108/01445151011029754 Downloaded on: 01-12-2012 References: This document contains references to 13 other documents Citations: This document has been cited by 4 other documents To copy this document: permissions@emeraldinsight.com Access to this document was granted through an Emerald subscription provided by JOMO KENYATTA UNIVERSITY OF AGRICULTURE A TECHNOLOGY For Authors: If you would like to write for this, or any other Emerald publication, then please use our Emerald for Authors service. Information about how to choose which publication to write for and submission guidelines are available for all. Please visit www.emeraldinsight.com/authors for more information. About Emerald www.emeraldinsight.com With over forty years' experience, Emerald Group Publishing is a leading independent publisher of global research with impact in business, society, public policy and education. In total, Emerald publishes over 275 journals and more than 130 book series, as well as an extensive range of online products and services. Emerald is both COUNTER 3 and TRANSFER compliant. The organization is a partner...
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...that is designed in this project is lean/rich MEA heat exchanger E-114. This heat exchanger is a counter flow shell and tube heat exchanger and is designed to heat up the rich MEA stream flowing from the CO2 absorber to the stripper. The principle that is applied is heat exchange between cold stream and hot stream which in this case the heat energy is transferred from the lean MEA stream to the rich MEA stream. Apart from this, the chemical engineering design for this heat exchanger includes the determination of its dimensions and heat exchange coefficient as well as pressure drop. The mechanical design covers the design of pressure vessel, head, supports and piping. In addition, the operating design which includes the commissioning, start-up, shutdown and maintenance procedures, process control, and HAZOP study is considered. 2.0 Process Description Figure 2.1 Schematic of rich/lean MEA heat exchange process flow sheet The lean/rich MEA heat exchange process is presented in Figure 2.1. The MEA-2 stream containing rich CO2 is flowing from CO2 absorber and enters the heat exchanger to be heated up from 61°C to 80°C by MEA-7 before entering the stripper. The MEA-7 is then cooled down from 105°C to 84°C when pass through the heat exchanger and recycle back to the CO2 absorber. The cold stream in this case is MEA-2 and MEA-3 while the hot stream is MEA-7 and MEA-8. 3.0 Chemical Engineering Design 3.1 Design Methodology The rich/lean MEA heat exchanger is a counter flow...
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...processes and tools, the project can results in different profits. Due to the intense competition of market, an emerging system has been created, called the Lean Production Delivery System. In the report, it investigates, analyzes and discusses the methods, processes and tools in current project management approaches and LPDS. Through the comparison of them, the report concludes that the traditional project management is steady and reliable, still the main stream for the current environment. Furthermore, the LPDS is modern and excellent, but it is open to question. Introduction In recent decades, project management plays an essential role in various areas, from the architecture, national defense, and aerospace to the computer, telecommunications, financial industry and even government agencies. Project management developed after the Second World War as one of the new management technologies, organized in the United States. It is defined as that the project managers use the systematic views, methods and theories to effectively manage and operate all the works involved the project, under the condition of limited resource. In other words, project management is planning, organizing, conducting, coordinating, controlling and evaluating from the start of invested decision to the end of project, in order to achieve the project objectives. The contents of project management involve a serious of aspects; for...
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...Lean is a logical approach to minimize gap between customer’s expectation and actual outcome at the best speed with the lowest cost. Lean.org defines Lean by a succinct definition “Lean is to maximize customer value while minimizing waste. Simply, lean means creating more value for customers with fewer resources”.1 LEAN addresses new reality: 1 What is Lean? Ref: http://www.lean.org/WhatsLean/ The advent of Lean can be traced to after World War II, when Kiichiro Toyoda and other from the Japanese car manufacturer, Toyota, studied Henry Ford’s car manufacturing Production process to develop its own efficient Toyota Production System, using processes that maximized the value for the customer with lesser resources. Ford was the pioneer in bringing together an entire production process in what he termed Flow production. He was able to revolutionize sequential development, in the form of the moving assembly line systems, use standardized parts, develop fabricated components in the manufacturing process which could be assembled to the vehicle in a matter of minutes, to produce Model T vehicles of one variety only. Using what eventually came to be known as principles of Lean production, Toyota and especially its senior executive Taiichi Ohno was able to dramatically produce automobiles at one third the number of engineering hours, in half the amount of time, with higher quality and lesser cost, than the American and European car manufacturers. When Jim Womack...
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...BUILDING RESEARCH & INFORMATION (2003) 31(2), 119–133 Lean project management Glenn Ballard1,2 and Gregory A. Howell1 1 Lean Construction Institute, 4536 Fieldbrook Road, Oakland, CA 94619, USA 2 University of California at Berkeley, Berkeley, CA, USA E-mail: gballard@leanconstruction.org Projects are temporary production systems. When those systems are structured to deliver the product while maximizing value and minimizing waste, they are said to be ‘lean’ projects. Lean project management differs from traditional project management not only in the goals it pursues, but also in the structure of its phases, the relationship between phases and the participants in each phase. This paper presents a model of lean project management and contrasts lean and traditional approaches. Four tools or interventions are presented as illustrations of lean concepts in action. Keywords: construction management, Lean Project Delivery System (LPDS), lean project management, project management, value, waste Les projets sont des systemes de production temporaires. Lorsque ces systemes sont organise pour fournir le produit tout ` ` ´s en optimisant la valeur et en minimisant les gaspillages, on dit qu’il s’agit de projets au plus juste . La gestion de ce type de projet differe de celle des projets classiques non seulement au niveau des objectifs vise mais aussi a celui de la ` ´s ` structure des phases, des relations entre les phases et des participants a chaque phase. Cet article propose...
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...LEAN HOSPITALS “Mark Graban’s book has documented what is now happening in hospitals all across America as we learn to apply the Toyota Production System methodology to healthcare. This book lays out the nuts and bolts of the lean methodology and also describes the more difficult challenges, which have to do with managing change. Graban’s book is full of wins—these are the same type of wins that are happening at ThedaCare every day. I wish I could have read this book six years ago, as it might have prevented some of the mistakes we made in our lean transformation journey.” — John S. Toussaint, MD, President/CEO ThedaCare Center for Healthcare Value “Coupled with a foundation of alignment and accountability, the ideas in this book provide a powerful tool to help hospitals get closer to the goal we want – perfect care.” — Quint Studer, CEO, The Studer Group, author of Results that Last “Mark Graban is the consummate translator of the vernacular of the Toyota Production System into the everyday parlance of healthcare. With each concept and its application, the reader is challenged to consider what is truly possible in the delivery of healthcare if standardized systems borrowed from reliable industries were implemented. Graban provides those trade secrets in an understandable and transparent fashion.” — Richard P. Shannon, MD, Frank Wister Thomas Professor of Medicine, Chairman, Department of Medicine, University of Pennsylvania School of Medicine “There is an...
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...managers seek to determine the most effective method of graphical process representation. This paper will first introduce the two forms of network diagram: Activity on the Arc and Activity on the Nodes. Following which, comparison and contrast based on their flexibility and effectiveness are carried out to determined the optimal method for project managers. 2. The Network Diagrams The network diagram is a useful tool for graphical representation of precedence association between the activities in a project (Larson & Gray, 2011:158). In an activity on the arc network diagram, an arrow is used to represent each activity, which is referred to as an arc (Anderson et. al, 2012:585). A circle called node is used to indicate the start and end of each activity (ibid). The node is often referred to in conjunction with the term event, which represents the finishing of the activity which result in a node (ibid). In an example, “modifying the machine” can be an activity. Upon completion of this activity, the event “machine modified” occurs. An example of activity on the arc network diagram can be shown in Figure 1 below where numbers refer to events while letters refer to activities. Dummy activity is used to accommodate more complicated relationship...
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...Lean is the concept which starts from removing waste [1]. Lean Production is the practice of mass production in which work is completed in minimum time, in a smaller space, with very few workers, with less equipment, and yet achieves highest level of quality in final product [2]. Since the evolution of Toyota Production System in 1950s [2], the lean movement has been widely accepted in automobile industry. However, acceptance of lean technology in the process industries (steel sector) have been much slower [3]-[4]. For removing the obstacles like resource complexity, the idea of the point of discretization for the process industry has been explained by Abdulmalek et al. (2006). This notion is based on the fact that in production flow route...
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...MSRSAS - Postgraduate Engineering and Management Programme - PEMP
Module Code Module Name Course Department
EMM515 Lean Operations and Management of Lean Organizations M.Sc. in Engineering and Manufacturing Management Mechanical and Manufacturing Engg .
Name of the Student Reg. No Batch Module Leader
Liju G BUB0912004 Full-Time 2012. SANDEEP. N
M.S.Ramaiah School of Advanced Studies
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... Prepared for Name CFO, Department of Finance July 30, 2013 Table of Contents LIST OF ILLUSTRATIONS 4 ABSTRACT 5 INTRODUCTION 6 Background 6 Business Process Improvement…………….….6 Types of Process Improvement………………… 7 Problem…………………………………………………………………7 Purpose…………………………………………………………………7 Scope…………………………………………………………………..7 DISCUSSION…………………………………………………………………8 Types of process improvement………………………….8 Six Sigma………………………………………………….8 Lean………………………………………………………….9 Barriers to Business process improvement…….10 Implementing Business process improvement in the public sector…………………………………………..11 Requirements………………………………………….11 Where to Implement……….……………………..12 Results……………………………………………………..13 Conclusion……………………………………………………………………13 Recommendations……………………………………………………..14 References………………………………………………………………….15 List of Illustrations Figure 1 Five Steps of Lean………………………………………………………….9 Abstract This report investigates how business process improvement can successfully enhance the State Bar as an organization by reducing waste, increasing efficiency, improving compliance and boosting staff satisfaction. Achieving the benefits of this process improvement will allow the State Bar to continue its level of service without increases in revenue. Additionally, using business process improvement will help the State Bar avoid past risks that have affected...
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...Value Stream Map for MIA Mobility Current State. The value stream map (Figure 1.) for MIA Mobility, a retailer of medical supplies directed at people over 65, details the process for inventory items from purchase, through in-store storage and display, to final sale and delivery. Inventory purchase orders are placed with a lead time of three days, as MIA Mobility expects to keep only one week of inventory on shelves and in shortage stock. This time frame allows delivery of orders three days to receive items. Once the goods are received, verifying the delivery takes 2 hrs and move into the in-store stock room takes 45 minutes. Store shelves are replenished each day, with items being pulled from the stock room and placed on display shelves during times when employees are not directly providing service to customers. Estimated time for customer purchase is based on the time to enter, seek, find, select, and transact for the desired item in-store (Guidon Performance Solutions, 2009). The estimated time for customer purchase in the current state is a lead time of 15 minutes prior to the checkout process and 5 minutes to complete the checkout process. The replenishment process is also shown in Fig.1 with utilization of the inventory management system. Inventory data is entered and stored at the following points: receiving, which enters the total items received during the last shipment; storing, which tracks volumes in the stock room for in-store...
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