Friendly Finances & Loans

Work processes are how the strategies will be implemented. They are the actions that fulfill the strategy and meet the specific needs of the customer. The most successful organizations use process management—a business science that documents, measures, analyzes, and improves its processes. The sandwich chain, for instance, has an order-taking process, a sandwich-making process, a [...]

Levy (1992) points out that lower partial moments of first order are consistent with second-order stochastic dominance. The concept of stochastic dominance has several important advantages. It requires no distributional assumptions, takes all the moments of the return distributions into account and requires only very mild assumptions about investor behavior. With respect to the comparison [...]

For decades, leading Japanese companies have directed much of their cost-management efforts towards muda or waste elimination. This involves techniques such as process analysis, mapping and re-engineering, which are important parts of operational decision-making. The value of process analysis is that it enables waste to be identified and eliminated and costs to be reduced by [...]