The document discusses the Theory of Constraints (TOC), which was developed by Eliyahu Goldratt to identify the constraint, or limiting factor, that prevents a system from achieving its goals. The TOC views the organization as a chain and focuses on improving the constraint to improve the system as a whole. It outlines five steps to identify and elevate constraints, which can be managerial, behavioral, logistical, or capacity-related. The TOC provides advantages like improved productivity and process understanding, but also has disadvantages like difficulty in implementation and potential to divert from long-term strategy.