Manage episode 298133925 series 2951310
I talked earlier in the week about when to use systems thinking in business. One of the outcomes you can achieve by paying systems thinking is to increase profits. I want to dive deeper into that today.
Profits is a word that is used in different ways, so let's start by defining profit. Profit is the amount of money your business is bringing in after you subtract the expenses of your business.
To understand how systems thinking can help you increase your business's profits, you need to understand the role of efficiency in systems thinking.
In this episode, I go through understanding how the role of efficiency ties into systems thinking and increasing the profits of your business.