This is a great study on the data behind the minimum wage. As we know, the President’s statement of people living on $15,000 a year if applied the minimum wage...
It is truly fun to strive to learn something new each day. As I was watching CNBC Squawk on the Street morning business program, the round table discussion was based on modern strategy theories that hold true. One of them is the McPeace theory derived by American author Thomas Friedman in 1996. The theory is based on the premise that in mankind’s history there has not been a war between two countries that have an established McDonald’s franchise, leading one to believe that modern countries (ones that have McDonald restaurants) do not need to go to war and can settle their disputes with diplomacy. Thus, Democracies are less likely to go to war with other democracies, link between peace and capitalism or the capitalist peace theory. At first I didn’t believe it. After some quick research it does appear to be true until the Russia-Georgia conflict in the summer of 2008 and the current Russia-Ukraine conflict. Still, this is something worth reviewing due to the scope of the issue.
LEAN SIX SIGMA TEACHING POINT: When establishing metrics, verify that the metrics are true drivers of the results. Validate and document the connection to use in your business case. You can see in this assumption the error that can be easily made, and what a costly one it would be for a country to depend on the McDonald’s defense. I would put my ketchup behind either In & Out Burger or Culvers!!
Article Link: http://www.romeconomics.com/the-mcdonalds-peace-theory/
Gary Kapanowski – Lean Six Sigma Master Black Belt – Excelsior
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