1Why Pricing Operations and Six Sigma Pricing
The superior man, when resting in safety, does not forget that danger may come. When secure, he does not forget the possibility of ruin. When all is orderly, he does not forget that disorder may come.—Confucius (551 BC–479 BC)
1.1 Introduction
If sales is the life blood of a company, then price is the oxygen in that blood. Yet in a 2006 interview with Harvard Business Review,1 the statements of Jeffrey Immelt, CEO of General Electric (GE), are quite revealing about pricing in his company. He said, "When it comes to prices we pay, we study them, we map them, we work them. But with the prices we charge, we're too sloppy."
If the CEO of one of the most admired and process-oriented companies perceives ...
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