Inspiring Champions In Advanced Manufacturing Student Edition

Growing up, we are often taught never to question the value of a good education. From the moment they “graduate” from making castles in sandboxes, the actions and interests of young adolescents are measured by how enticing they will appear on the almighty “college application.” But if you stop to consider that the total student debt in the United States is estimated to be $1.3 trillion (more than credit card and auto loan debt combined), you may begin to wonder what the true “value” of a college education actually is. In Inspiring Champions in Manufacturing, the indomitable Terry M. Iverson challenges our culture’s axiom that sustainable careers may only be achieved through a college education. Through his own love, heritage, and mastery of the fine art of manufacturing, Iverson contends that careers in manufacturing offer stability, security, and prosperity for our entire nation. Iverson illustrates the power of manufacturing through in-depth research, personal stories, and over forty interviews with some of the most remarkable authors, CEOs, sports figures, and other influencers. While half of the book speaks directly to parents, the latter half shepherds inquisitive youth curious about the options available to them. Inspiring Champions in Manufacturing teaches parents and students: Why cultural pressure steers parents and high school students toward college How college pathways leave even the brightest students in debt, deferring home purchases and more The untold potential of a career in manufacturing How the US has a skill shortage that rewards fulfillment with impressive salaries and advancement opportunities How technological advances have made manufacturing into a digital ecosystem versus an industrial complex Action plans for both parents and youth to get involved in manufacturing Inspiring Champions in Manufacturing provides parents and students a roadmap for career success, self-fulfillment, and a zero-debt foundation. With their eyes wide open, students will be free to envision the monumental potential that awaits them in a manufacturing career.

Growing up, we are often taught never to question the value of a good education. From the moment they “graduate” from making castles in sandboxes, the actions and interests of young adolescents are measured by how enticing they will appear on the almighty “college application.” But if you stop to consider that the total student debt in the United States is estimated to be $1.3 trillion (more than credit card and auto loan debt combined), you may begin to wonder what the true “value” of a college education actually is. In Inspiring Champions in Manufacturing, the indomitable Terry M. Iverson challenges our culture’s axiom that sustainable careers may only be achieved through a college education. Through his own love, heritage, and mastery of the fine art of manufacturing, Iverson contends that careers in manufacturing offer stability, security, and prosperity for our entire nation. Iverson illustrates the power of manufacturing through in-depth research, personal stories, and over forty interviews with some of the most remarkable authors, CEOs, sports figures, and other influencers. While half of the book speaks directly to parents, the latter half shepherds inquisitive youth curious about the options available to them. Inspiring Champions in Manufacturing teaches parents and students: Why cultural pressure steers parents and high school students toward college How college pathways leave even the brightest students in debt, deferring home purchases and more The untold potential of a career in manufacturing How the US has a skill shortage that rewards fulfillment with impressive salaries and advancement opportunities How technological advances have made manufacturing into a digital ecosystem versus an industrial complex Action plans for both parents and youth to get involved in manufacturing Inspiring Champions in Manufacturing provides parents and students a roadmap for career success, self-fulfillment, and a zero-debt foundation. With their eyes wide open, students will be free to envision the monumental potential that awaits them in a manufacturing career.

Chapter 5: Customers, Products, Services . . . . . . . . . . . . . 129 Close Customer Relations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 130 Customer Requirements. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 134 Dependence on the Customer and Risk Aspects . . . . . . . . . . . . . . . . . 135 Achieving Closeness to Customer . . . . . . . . . . . . . . . . . . . . . . . . . . . . 139 Product and Service Spectrum . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 144 Summary. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 156 Chapter 6: Innovation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 159 What Does Innovation Mean?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 159 High Level of Innovativeness . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 163 Driving Forces of Innovation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 172 The Origin of Innovations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 176 Leadership and Organizational Aspects of Innovation . . . . . . . . . . . . 179 Summary. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 187 Chapter 7: Competition . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 191 Competitive Structure and Conduct . . . . . . . . . . . . . . . . . . . . . . . . . . 191 The Hidden Champions in the Light of Porter’s “Five Forces” . . . . . 195 Competitive Advantages. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 197 Sustainability of Competitive Advantages . . . . . . . . . . . . . . . . . . . . . . 203 Demonstration of Competitive Superiority . . . . . . . . . . . . . . . . . . . . 205 Competitive Edge and Costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 207 Sparring Partners for Competitive Fitness . . . . . . . . . . . . . . . . . . . . . . 214 Excessive Competitive Orientation . . . . . . . . . . . . . . . . . . . . . . . . . . . 217 Summary. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 218 Chapter 8: Financing, Organization, and Business Environment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 223 Financing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 224 Organization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 228 Contents ix Organization of the Value Chain . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 237 Business Environment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 249 Entrepreneurial Clusters. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 251 Summary. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 253 Chapter 9: Employees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 257 Job Creation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 257 Corporate Culture . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 260 Quali?cations and Learning . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 274 Creativity of Employees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 278 Recruiting . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 279 Summary. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 282 Chapter 10: The Leaders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 285 Structures of Ownership and Leadership . . . . . . . . . . . . . . . . . . . . . . 286 How Crucial Is Leadership? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 289 Leadership Continuity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 289 Young to the Top . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 293 Powerful Women . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 294 Internationalization of Management . . . . . . . . . . . . . . . . . . . . . . . . . . 298 Personalities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 300 Leadership Styles . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 305 Management Succession . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 306 Summary. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 310 Chapter 11: Hidden Champions: Audit and Strategy Development . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 315 What Is Strategy? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 316 Hidden Champion Strategy: For Whom? . . . . . . . . . . . . . . . . . . . . . . 316 Hidden Champions – Audits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 317 Strategy Development . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 325 Strategies for Value Propositions and Pricing . . . . . . . . . . . . . . . . . . . 335 Organization and Implementation . . . . . . . . . . . . . . . . . . . . . . . . . . .

Management of Research and Development Organizations Managing the Unmanageable R. K. Jain and H. C. Triandis Written by the manager of a large research and development organization and a leading behavioral scientist, this book explores some of the essential topics in R&D management while providing hands-on guidance for putting specific techniques to work. 1990 (0 471-50791-1) 268 pp. Managing Technology in the Decentralized Firm Albert H. Rubenstein Technology has traditionally advanced faster than our ability to manage it. Here is a book designed to assist the professional in furthering the corporate technology program through its effective management. Based on studies of over 200 decentralized firms spanning a period of thirty years, Managing Technology in the Decentralized Firm addresses crucial aspects of the research and development and innovation processes, and suggests how to make them pay off. 1989 (0 471-61024-0) 476 pp. Statistical Quality Control for Manufacturing Managers William S. Messina In today’s competitive environment, the responsibility of the manufacturing manager has expanded to include ownership of the quality of the products coming off the line. The author uses real-life business situations to demonstrate how a manager can incorporate statistical quality control (SQC) into virtually any manufacturing line. He also offers practical advice on techniques managers can use to improve quality, increase productivity, and enhance the competitive position of the line. 1987 (0 471-85774-2) 331 pp. Management of Technological Change Yassin Sankar Technology produces changes within the organization that must be considered for effective implementation of innovations. This book focuses on the dynamics of technological change, especially the human aspects. The author examines the impact of technological change on job design, work flow, job stress, the elements of corporate culture, the organizational system, the information technology of the organization, the leadership style and strategic premises, the organizational design, and the value systems of managers and the organization. 1991 (0 471-63147-7) 374 pp.