Changes in Organizations and Management Practices
Some corporations have had to make significant strategic changes. For example, General Electric has created a leaner, faster, more customer-focused company since September II. The company has done this by having fewer, more efficient and higher-value jobs, and annual savings of $400 million a year in costs over the past three years. Some of this has been attributed to their using "Six Sigma," which is a statistical measure of how close a product comes to its quality goal of 99.9 percent perfect at 3.4 defects per million parts and digitalization, which is the simplification of workflow, facilitated by the Internet.s
For business executives schooled in focusing on the bottom line, a tragedy of this proportion upends their priorities. Profits defer to the physical and emotional well-being of their employees, the management of a business becomes the management of people in ways that are far more personal and intimate then ever before.