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The New Economics, Third Edition
- For Industry, Government, Education
- Narrated by: David Stifel
- Length: 8 hrs and 15 mins
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Summary
In this book, W. Edwards Deming details the system of transformation that underlies the "14 Points for Management" presented in Out of the Crisis. The "Deming System of Profound Knowledge", as it is called, consists of four parts: appreciation for a system, knowledge about variation, theory of knowledge, and psychology. Describing the prevailing management style as a prison, Deming reveals how applying the System of Profound Knowledge increases productivity, quality, and people's joy in work and joy in learning. Another outcome is short-term and long-term success in the market. Indicative of Deming's philosophy is his advice to abolish performance reviews on the job, to look deeper than spreadsheets for opportunities, and even to rethink how we teach and manage our schools. Moreover, Deming's method enables organizations to make accurate predictions, which is a valuable tool in today's uncertain economic climate.
This third edition features a new chapter (contributed by business consultant and Deming expert Kelly L. Allan) that explains the relevance of Deming's management method, case studies from organizations that have adopted Deming's System of Profound Knowledge, and offers guidance on how organizations can effectively "do Deming".
PLEASE NOTE: When you purchase this title, the accompanying PDF will be available in your Audible Library along with the audio.
What listeners say about The New Economics, Third Edition
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- Michael Walsh
- 13-11-21
Very relevant 30 years on - eye opening
really enjoyed it. it's amazing how the principles continue to apply today, decades later. will read Demings other titles.
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- Mr Nick McIvor
- 26-01-22
Essential Reading
Definitely a must read for anyone trying to change organisations.
Timeless knowledge that is always relevant, though rarely followed.
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- MR D Shukla
- 07-04-23
Interesting book - alot of theory
Perhaps might be that this book was too difficult for me to fully grasp - definitely an interesting book - definitely not a casual read
Will try read other books to get a better understanding of Deming
I feel like I missed out alot
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