Igniting Innovation by Ravi Arora

Author:Ravi Arora
Language: eng
Format: epub
Tags: Harper Business
Publisher: HarperCollins Publishers India
Published: 2019-05-26T16:00:00+00:00

Figure 5.1: Assessment of lots of diamonds produced in a week

Let’s also assume that using these two factors, he has found a way to assign a number in a range of 1–100 to every diamond. The number indicates the worth of a diamond – a higher number indicates a better price for the diamond in the market. The chart (Figure 5.1) shows the valuation of fifteen diamonds that were processed in a given week; it has been prepared by putting the diamonds in descending order of their expected value.

Next week he does the same assessment for the diamonds processed by his people. Data of Week #2 clearly shows that not only did his people produce two extra diamonds, but the overall quality also improved and hence this lot is likely to fetch better realization (Figure 5.2).

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