How bad is the labor problem in China? We have been aware, of course, of the steady hikes in wages, which have annually risen by at least double-digits for over a decade.

Reengineering—sometimes called business process reengineering, or BPR—originated in a 1990 article in the Harvard Business Review by former MIT professor Michael Hammer, who followed up in 1993 with the seminal book Reengineering the Corporation.

The core of reengineering is a change in organizational structure, in which people who were formerly organized by function (“functional silos”) are instead organized by process or product.