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.
So, to address this issue and provide solutions for the average worker, we introduce Income Reengineering as a counterbalance initiative to Business process reengineering. Income reengineering is defined as 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.