What is Income Reengineering

First, consider the following:

 

  • Michael Hammer and James Champy, in their 1993 book Reengineering The Corporation, defined the word Reengineering as the “Fundamental rethinking and radical redesign of business processes to achieve dramatic improvements in critical measures of performance such as cost, service, and speed;

 

  • This lead to a popular corporate restructuring process called Business Process Reengineering (BPR). BPR started the trend of corporations using information technology to downsize jobs, outsource jobs and eliminate middle management positions all in an effort to cut cost and improve efficiency. This was great for corporations, but horrible for employees and workers and it continues to day.

 

With this in mind, Income Reengineering is positioned as the counterbalance to Business process reengineering. In other words:

 

  • Business process reengineering is the fundamental rethinking and radical redesign of business processes to achieve dramatic improvements in critical measures of performance such as cost, service, and speed;

 

  • Income reengineering is the fundamental rethinking and radical redesign of business processes to achieve dramatic improvements in the income earning and wealth building ability of the average worker while he or she is on the job.

 

You will see this definition of Income Reengineering come alive by reviewing the following supporting documents: