
A Process-Driven Life
In last week’s column, I discussed the importance of processes in how firms compete in their markets. As a quick review, a process is a series of steps or actions to achieve a specific result, typically a transformation or major change. Therefore, processes are required for a firm to produce its goods and deliver its services in such a way that they are attractive to potential customers. To enable my students to grasp this fundamental lesson and lay the foundation for the remainder of the course, their first assignment is







