Homework 1
The Strategy is one of the most important aspect of any organization aiming for continuous
improvement and growth. It is nothing but creating and implementing a plan for achieving
desired goals of the organization and also to create the competitive advantage in the market in
order to grow and thrive. For achieving these goals, the strategy of an organization should be
different from the strategies followed by the competitors. Strategy is the thing, which can make
the customer believe that you can deliver more value to them. For customers to believe this, it is
important that your strategies must show continuous improvement in terms of the product and
services. The idea of increasing the customer value by reducing the waste associated with it is
called as ‘Lean’. For increasing the customer value, we need to improve the process
continuously. Increasing the process continuously can be done by deciding the strategy that is to
be followed. The strategy followed for the continuous improvement by reducing the waste
associated with the process is nothing but ‘Lean Strategy’.
The concept of the Lean Manufacturing was introduced by the Toyota in the 50’s. Toyota has
introduced new techniques like ‘Just In Time’ into the industry which was one of the most
