Hayes and Wheelwright Argued That It Is Profitable for Firms

question 21

Essay

Hayes and Wheelwright argued that it is profitable for firms to operate along the diagonal of the product-process matrix.Justify the reason surrounding their argument.Can you think of situations wherein firms could move away from the diagonal and yet remain profitable?

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Definitions:

Altruism

The selfless concern for the well-being of others without expecting anything in return.

Hegel

A German philosopher known for his dialectical method and the concept of the Absolute Spirit, emphasizing the historical development of consciousness and reality.

Spirit

In Hegel, the all-embracing idea that includes the entire universe and all of humanity. More generally, spirit means enthusiasm (as in “team spirit” or “when the spirit moves me”); in religion, spirit usually refers to an intangible being, such as God or, sometimes, the human soul.

Nirvana

In Buddhism, it refers to an exalted condition where there is an absence of pain, craving, or self-identity, and the individual is liberated from karma's influence and the continual cycle of mortality and rebirth.