Fifty years after Milton Freedman wrote that the only purpose of a business is to make money for shareholders, society cheered. His philosophy has been taught to students for years as a fundamental tenant of business. As a society, we have finally re-evaluated and largely rejected that notion, recognizing business must promote an economy that serves all Americans. More than 100 years after the death of another business school icon, Frederick Taylor, it’s time to re-evaluate his perspectives on standardization and process.
I have previously written about anti-fragile entrepreneurship, and how to manage meetings by saying less rather than more. There’s a natural correlation to these ideas related to how companies scale, and how to manage that scale in a more sustainable way, that managers rarely think about. Optimizing factories was all about standardization and process, but to achieve operational excellence at scale with knowledge workers, managers should be thinking