West Words

Lean production is the name given to a group of highly efficient manufacturing techniques developed (mainly by large Japanese companies) in the 1980s and early 1990s. Lean production was seen as the third step in an historical progression, which took industry from the age of the craftsman through the methods of mass production and into an era that combined the best of both. It has been described as “the most fundamental change to occur since mass production was brought to full development by Henry Ford early in the 20th century”.

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The growth share matrix is a framework developed by the Boston Consulting Group (bcg) in the 1960s to help companies think about the priority (and resources) that they should give to the different businesses in their portfolio. Commonly known as the Bostonmatrix, it puts these businesses individually into one of four categories, each with a memorable name.

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