Continual Improvement Process

Glossary

1. Accuracy and bias: Accuracy is the difference between measured value and the known standard value. This is usually assessed by (i) computing the average of repeated measurement taken on a standard item and (ii) finding the difference between the standard value and average value. This difference is called the ‘bias’. It needs to be ‘zero’. (308)
2. Adaptive management: The commonly found practice of management is to ‘stay-on-course’ dictated by the past knowledge, experience, data and information. This conservative approach gives a sense of comfort and stability. But, in the present context where change is the order of the day, ‘staying-on-course’ is more likely to cause bruises and worst still, fracture a business itself. Hence, one has ...