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Essay / What is the theory of constraints
According to Sergio Rattner of the Lean Enterprise Institute (2006), as stated by Eliyahu M. Goldratt, a constraint is any factor that prevents an organization from obtaining more of what it seeks, which is usually profit. This theory states that every organization must have one or more constraints that prevent it from achieving its objectives. It is a methodology for identifying the most limiting factor that prevents an organization from achieving its goals. This theory takes a scientific approach to improvement. It takes into consideration the ultimate goal of an organization and helps the organization achieve its goals by providing a set of powerful tools. Tools include the five stages of focus (methodology for identifying and eliminating constraints), process thinking (tool for analyzing and solving problems), performance accounting (a method for measuring performance and guiding management decisions) . The best thing about this theory is that it prioritizes improvements by eliminating the challenges that an organization faces. The central concept according to Eliyahu M Goldratt published by Sergio Rattner, Lean Enterprise Institute (2006) of this theory is that every activity has a constraint and it can only be improved when the constraints are improved. The five-step process as defined by Goldratt in his book The Goal and published by Sergio Rattner, Lean Enterprise Institute (2006) as a process that the change agent can use to strengthen the weakest link or link. And it is as follows Identify the constraints itself ·Say no to plagiarism. Get a tailor-made essay on 'Why violent video games should not be banned'? Get the original essay Decide how to exploit the constraint - Goldratt asks the change agent to obtain as many capabilities as possible from a constraining component without undergoing costly changes or upgrade Subordinate everything else - The unconstrained component of the system must be adjusted to a parameter that will allow the constraints to operate with maximum efficiency. An evaluation is performed once everything is settled to determine if the constraint has been moved to another component. If it has been eliminated, the change agent moves to step five. Elevate Constraints – Take necessary action to remove the constraint. · Go back to step one and be careful. It is evident in this theory that in any activity there must be a challenge, just like in poultry farming the project faces challenges. 2.1.2 The theory of marketing strategy According to Drucker cited by Jorge Mongay (2012) “Strategic marketing is considered a process of analyzing environmental, market competitive and business factors affecting the company and its business units, identifying market opportunities and threats and forecast future trends in business areas of interest to the company and participate in setting goals and formulating corporate and business unit strategies. Select target market strategies for product markets in each business unit, establish marketing objectives as well as develop, implement and manage the objectives. strategies for positioning marketing programs to meet the needs of market targets.” As part of this theory, we will examine segmentation and the marketing mix as they are the key elements of our research. 2.1.2.1 Segmentation The immense importance of market segmentation results from virtual reality. differences between consumers (Howaldt and Mitchell, 2007). THE.