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Ron and Ed discuss the Cult of Efficiency beginning with an explanation of Frederick Winslow Taylor the father of so called Scientific Management.
Business aren’t paid to be efficient. There's nothing more useless than being efficient at doing the wrong things. Industries at peak efficiency are destined for obsolescence, think buggy whip manufacturers. Effectiveness trumps efficiency and creates true competitive advantage. Would you want an efficient or effective heart surgeon? This is why Walt Disney didn’t produce Snow White and Three Dwarfs.
The McKinsey Maxim of What you can measure
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