Indore: The Theory of Constraints (ToC), which is a commonsense way of managing companies, discusses about radically different approach of doing business with global objectives in mind. Companies of the country must apply ToC to have a global perspective while doing business.”
Visweswaran Sundararaman, principal consultant, Chennai Goldratt Consulting, Israel, was addressing a webinar on Tuesday organised by the Indore Management Association (IMA) on the topic, ‘Theory of Constraints Methodology—an Introduction’. The session was moderated by Sushil Dubey, IMA executive committee member.
Sundararaman spoke about modern business models and ways to adopt them. He said the goal of any business which is ‘for profit’ is to make money now and in future. He said people, generally, confuse ways and means of achieving a goal as the goal, itself. Commonly, while managing companies, managers take decisions according to conventional thinking and a localised approach. Most of the time, these approaches lead to disastrous results and frustrations. The Theory of Constraints (ToC) discusses about a radically different approach with a global objective in mind. When managers apply these approaches, they are able to favourably influence the output of the system.
Sundararaman said there were simple, well-developed and time-tested steps to implement the principles of ToC. Globally, there are more than 1,500 companies which continue to enjoy breakthrough performance using thinking and execution within the framework of ToC.
(To receive our E-paper on whatsapp daily, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)