ABSTRACT
Simple ideas can often have a huge impact in the business world, particularly when established analytic approaches are made accessible through intuitive new frameworks. The Total Quality Movement (TQM), started by W.E. Deming and advanced by others, took existing statistical methods and made them business friendly through easy-to-use tools. Michael Porter took principles from industrial organization and made them accessible using an intuitive, actionable framework. Even Wall Street’s focus on shareholder value stems from the work of Alfred Rappaport and others to bring economic principles to the world of finance in a usable way.
