Slack

This is a preview of a concept contained in The Personal MBA by Josh Kaufman, a book that will help you master the fundamentals of business, hone your business instincts, and save a fortune in tuition. The Personal MBA distills the most powerful principles of business and delivers them quickly and concisely. Order your copy now…

What is “Slack”?

“A man with a surplus can control circumstances, but a man without a surplus is controlled by them, and often has no opportunity to exercise judgment.” —Harvey S. Firestone, founder of the Firestone Tire and Rubber Company

Key Points:

• Slack is the amount of resources present in a Stock.
• For a system to operate efficiently, the Slack should be just right: not too big, not too small.
• Slack is tricky: too much and you’re wasting money, too little and you face the risk of running out of Stock.

Questions for Consideration:

• How much slack is there in your system?
• Is there any danger of a stock running empty when a resource is needed to produce an outflow?
• How can you change the system to ensure there’s always just enough slack to keep the system running?

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