Yesterday news came out that Rio Tinto had sold off it’s purchase of Riversdale Mining for $50 million taking a $3 billion dollar hit.
The CEO lost his job over this, but was this avoidable? The simple answer of course is yes.
What has been the hidden costs? What sort of cost cutting has ensued afterwards. How many thousands of people are let go or will be let go.
Sure the money will flow again somewhere else in the economy but where and when and will those left stranded through no fault of their own be able to come back into the fold somewhere or anywhere.
The ideas around Lean Thinking can help mitigate this and cause less long term pain and smooth out the dips or remove the boom and bust nature of our economy.
Perhaps we can also get past “It’s just the way it is”
Just a thought.