Q Thesis Example | Topics and Well Written Essays - 1250 words

Q - Thesis Example This can be because agility is still new in the world of manufacturing. Nevertheless, it has existed since the 1980s (Garbie, Parsaei, and Leep 2) and has been practiced by manufacturing firms. Agile manufacturing system is similar to value management in the context of concept and purpose. Agile focuses on decreasing time, achieving customer’s satisfaction through fast and quick delivery of products and services, and minimizing surplus inventory. Businesses and organizations of the age of globalization employ many strategies to improve their agility level. Improving organizational strategies, business concepts and innovations, value management and value engineering in construction, are just a few of these innovations. Value management addresses problems which are still unknown but can be addressed to properly when the time comes. It is being conducted by a value management team composed of the stakeholders of the project who use materials and procedures that would provide optimum benefits. All stakeholders have to work together as a team to enforce the necessary measures to minimize unnecessary cost and optimize value for the project. Petroleum companies need innovations as the industry is labor-intensive and requires a great amount of capital in running the business. Reducing operating costs is one of the strategies of petroleum companies. In the corporate world, they have almost the same concept of agility, which is cutting costs and then lowering the operating expenses, and adding the saved money to expenses for the sales force and research and development, or for other important activities in the business. (Graham, Ware, and Williamson 31) Humans create knowledge in social interactions. Petroleum companies create knowledge structures, places and mechanisms for the creation of knowledge, whether this is through the interaction of employees and