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The economic dynamics of work

M. Ryan Haley

Vanderbilt University

Abstract Only by developing management systems based on appropriate standards can a business successfully learn how to improve the technology of work. As a result, a new economics of work is created where the evolution of large organizations makes economic sense. But economies of scale no longer require rigid mass production of a limited product line. Flexibility can be introduced to produce product diversity without losing the efficiencies of standardization. Thus manufacturing can operate more flexibly like a service by learning to apply industrial robots and other smart machines. Service businesses can also learn how to manage more systematically by designing standard menus of operations.

DOI

10.1002/smj.4250070506

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