Six Sigma in Business Functions
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Six Sigma is a methodology that can be applied across all business functions to improve processes and reduce errors. The Six Sigma equation, Y=f(X), represents the relationship between inputs (X) and outputs (Y) in any process. This equation can be applied in functions like finance, purchasing, HR, sales, marketing, and IT. Key factors that ensure Six Sigma's success across functions include selecting projects tied to business goals, using a structured methodology, and defining clear roles for executives, project managers, and Belts. Students trained in Six Sigma gain knowledge of various business functions and quantitative methods, allowing them to understand how classroom lessons apply to real-world business issues.
Six Sigma in Business Functions
- 1. Six Sigma in Business FunctionsPresentation by Benchmark Six Sigma
- 2. Remember: Does Six Sigma apply to you?
- 3. f (X)Y=Further, Six Sigma Equation is:Y
- 4. Dependent
- 5. Output
- 6. Effect
- 7. Symptom
- 8. Monitor
- 9. Response
- 10. X1 . . . XN
- 11. Independent
- 12. Input-Process
- 13. Cause
- 14. Problem
- 15. Control
- 16. FactorThis equation is valid across any business process or even any general process. This is the inherent strength of Six Sigma which makes its applicability feasible across any business domain
- 17. Six Sigma ApplicabilityGiven the Universal applicability of Y=f(X)Six Sigma Is applicable across all business functions like:
- 18. Finance
- 20. HR
- 22. ITSix Sigma Application: Finance
- 23. Six Sigma Application: Manufacturing Operations
- 24. Six Sigma Application: Customer Care Operations
- 25. Six Sigma Application: Purchasing
- 26. Six Sigma Application: Sales
- 27. Six Sigma Application: Marketing
- 28. Six Sigma Application: HR
- 29. Six Sigma Application: IT
- 30. Six Sigma Application: IT
- 31. Six Sigma Success Factors: MethodologyFollowing Inherent strengths of Six Sigma Methodology ensure success across any Business functions:Each Project has a strong tie to business deliverables
- 32. This enhances customer satisfaction and loyalty
- 33. Gives the Project a Strategic importance
- 34. Ensures impact on profit (hard and soft benefits)
- 35. All results link to a key metric, which ensures
- 36. Goals can be quantified and measured
- 37. It is ensured that project selected is feasible, which ensures
- 38. Team can commit time to project
- 39. Potential solutions are relatively low costSix Sigma Success Factors: PeopleClear roles defined for People working on a Six Sigma Project also ensures success across functions:Executive sponsorshipClear link between project and critical business goal
- 40. Executive is visible and supportive of team efforts
- 41. Executive breaks down barriers to improvementDedicated project managerBlack Belt for large or difficult projects, or projects that require statistical analysis
- 42. Green Belt for a smaller project within her/his teamSix Sigma Trained Student’s AdvantageGains knowledge about the Business Functions from the course books
- 43. This means learning about HR, IT, Finance, Sales &Marketing, Operations from text books and discussions
- 44. Also learning Statistics & Quantitative methods as part of course
- 45. After undergoing Six Sigma training:
- 46. Understands the interlinkage between various subjects studied in MBA with reference to actual industrial environment.
- 47. Practically understand how their learnings in Project Management, Quantitative Methods, Finance, Human Resource Management, Operations and Organizational Behavior are applied to address real business issues
- 48. Can take up Summer Internship Project as a Six Sigma Project