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  1. 1. Quality ManualApproved By Issue No. 01 Revision No. 0Document No : Issue Date : Page |1QM-201103-01 20th March’2011 CONTENTS INTRODUCTION ------------------------------------------- PAGE 1 BRIEF DESCRIPTION --------------------------------------PAGES 2-4 1.SCOPE AND EXCLUSION ------------------------------PAGES 5-6 1.1.1 Purpose of Quality Management System 1.1.2 Scope & Exclusion 1.1.3 Policy 2.NORMATIVE REFERENCES -------------------------- PAGE 7 3.TERMS AND DEFINTIONS ---------------------------PAGE 7 4.QUALITY MANAGEMENT SYSTEMS ---------------PAGES 8-10 4.1 Documentation Structure 4.2 Control of Documents 4.3 Control of Records 5.MANAGEMENT RESPONSIBILITY ------------------ PAGES 11-25 5.1 Management Commitment 5.2 Customer Focus 5.3 Quality Policy 5.3.1 Policy Segmentation 5.3.2 Quality Policy Accounting 5.3.3 Implementation Procedures 5.3.4 Acceptable Lot Sizes 5.4Planning 5.4.1 The Quality Assurance Plan 5.4.2 The Quality Control Plan 5.4.3 Quality Control Plan Components 5.5 Responsibility, Authority & Communication 5.5.1 Responsibility and Authority 5.5.2 Management Representative 5.5.3 List of Processes 5.6 Management Review 5.6.1 General 5.6.2 Review Input 5.6.3 Review Output 6. Resource management……………………………………………..PAGES 26-27 6.1 Provision of resources 6.2 Human resources 6.3 Infrastructure 6.4 Work environment
  2. 2. Quality ManualApproved By Issue No. 01 Revision No. 0Document No : Issue Date : Page |2QM-201103-01 20th March’2011 7. Product realization…………...............................................PAGES 27-28 7.1 Planning of product realization 7.2 Customer-related processes 7.3 Design and development 7.4 Purchasing 7.5 Production and service provision 7.6 Control of monitoring and measuring equipment 8. Measurement, analysis and improvement…………………….PAGES 28-41 8.1 General 8.2 Monitoring and measurement 8.3 Control of nonconforming product 8.4 Analysis of data 8.5 Improvement
  3. 3. Quality Manual Approved By Issue No. 01 Revision No. 0 Document No : Issue Date : Page |3 QM-201103-01 20th March’2011 I. IntroductionThis document constitutes the highest level of quality documentation in the company. Asupplementary compliance package may be attached to provide supporting detail for asite or laboratory. The information presented here takes precedence over any supportingdocuments.The company’s Standard Operating Procedures (SOPs) document additional details on howpolicies are implemented. Locally maintained work instructions provide further detail tosupport the SOPs. The scope and revision of each document is held in Lehman Brothersdocument control system.The quality manual defines Lehman Brothers policies regarding: 1. Description of the company 2. Scope and Exclusions, if any 3. Organisational Chart with Responsibilities 4. List of Processes 5. Process Maps 6. Other ISO requirements
  4. 4. Quality Manual Approved By Issue No. 01 Revision No. 0 Document No : Issue Date : Page |4 QM-201103-01 20th March’2011 II. DescriptionII.IHistoryLehman Brothers was an American company that operated in the investment servicesindustry. Prior to their declaration of bankruptcy, the firm took part in investment banking,equity, fixed income sales, research and trading, investment management, private equityand private banking. Lehman was the fourth largest investment bank in the USA (behindGoldman Sachs, Morgan Stanley, and Merrill Lynch).In 1844, Henry Lehman immigrated from Rimpar, Germany, to Montgomery, Alabamawhere he established a small shop selling groceries, dry goods, and utensils to the localcotton farmers. By 1850, his two brothers, Emanuel and Mayer, had joined him in thebusiness, and they named it Lehman Brothers. After Henry Lehmans death in 1855 at theage of 33, the two younger brothers headed the firm for the next four decades. A New Yorkoffice was opened in 1858, giving the firm a stronger presence in the commodities tradingbusiness as well as a foothold in the financial community. After facing the threat of the ‘civilwar’ in 1870, they engaged themselves into the business of cotton as well as their previouscommodities. The company also helped to establish the Coffee Exchange and thePetroleum Exchange. While the firm prospered over the following decades as the U.S.economy grew into an international powerhouse, Lehman had to contend with plenty ofchallenges over the years. Lehman survived them all – the railroad bankruptcies of the1800s, the Great Depression of the 1930s, two world wars, a capital shortage when it wasspun off by American Express in 1994, and the Long Term Capital Management collapse andRussian debt default of 1998. However, despite its ability to survive past disasters, thecollapse of the U.S. housing market ultimately brought Lehman Brothers to its knees, as itsheadlong rush into the subprime mortgage market proved to be a disastrous step.II.II Bankruptcy On September 15, 2008, Lehman Brothers filed for bankruptcy. With $639 billion inassets and $619 billion in debt, Lehmans bankruptcy filing was the largest in history, as itsassets far surpassed those of previous bankrupt giants such as WorldCom and Enron.Lehman was the fourth-largest U.S. investment bank at the time of its collapse, with 25,000employees worldwide. Lehmans demise also made it the largest victim, of the U.S.
  5. 5. Quality Manual Approved By Issue No. 01 Revision No. 0 Document No : Issue Date : Page |5 QM-201103-01 20th March’2011subprime mortgage-induced financial crisis that swept through global financial markets in2008. Lehmans collapse was a seminal event that greatly intensified the 2008 crisis andcontributed to the erosion of close to $10 trillion in market capitalization from global equitymarkets in October 2008, the biggest monthly decline on record at the time.II.IIIProducts and ServicesIn 1984, American Express acquired the investment banking and trading firm, LehmanBrothers Kuhn Loeb, and added it to the Shearson family, creating ShearsonLehman/American Express.Lehman Brothers Kuhn Loeb, which itself was the merger ofLehman Brothers and Kuhn Loeb in 1977 was led by Pete Peterson, a former UnitedStates Secretary of Commerce and future founder of the Blackstone Group.II.III.aBanking ServicesThe primary operations of banks include: Keeping money safe while also allowing withdrawals when needed Issuance of checkbooks so that bills can be paid and other kinds of payments can be delivered by post Provide personal loans, commercial loans, and mortgage loans (typically loans to purchase a home, property or business) Issuance of credit cards and processing of credit card transactions and billing Issuance of debit cards for use as a substitute for checks Facilitation of standing orders and direct debits, so payments for bills can be made automatically Provide overdraft agreements for the temporary advancement of the Banks own money to meet monthly spending commitments of a customer in their current account. Provide internet banking system to facilitate the customers to view and operate their respective accounts through internet.
  6. 6. Quality Manual Approved By Issue No. 01 Revision No. 0 Document No : Issue Date : Page |6 QM-201103-01 20th March’2011 Provide Charge card advances of the Banks own money for customers wishing to settle credit advances monthly. Provide a check guaranteed by the Bank itself and prepaid by the customer, such as a cashiers check or certified check. Notary service for financial and other documentsII.III.bOther Types of Bank Services Private banking- thisbanking services exclusively to high net worth individuals. Capital market bank - underwrite debt and equity, assist company deals (advisory services, underwriting and advisory fees), and restructure debt into structured finance products. Bank cards - include both credit cards and debit cards. Credit card machine services and networksII.III.cForeign Exchange ServicesForeign exchange services are provided by many banks around the world. Foreign exchangeservices include: Currency exchange - clients can purchase and sell foreign currency banknotes. Foreign Currency Banking - banking transactions are done in foreign currency. Wire transfer - clients can send funds to international banks abroad.II.III.dInvestment Services Asset management Hedge fund management Custody services - the safe-keeping and processing of the worlds securities trades and servicing the associated portfolios. Assets under custody in the world are approximately $1.25 billion.
  7. 7. Quality Manual Approved By Issue No. 01 Revision No. 0 Document No : Issue Date : Page |7 QM-201103-01 20th March’2011 1. Scope and Exclusion1.1 Purpose of Quality Management SystemThe purpose of this quality system is to assure that all products and services provided willmeet or exceed the requirements specified by our customers, thereby contributing to thecontinued growth and prosperity of the company and its stake holders.A quality management system has two interrelated aspects:1. The customer’s needs and expectations for the customer, there is a need for confidencein the ability of the organisation to deliver the desired quality as well as the consistentmaintenance of that quality.2. The organisation’s needs and interests. For the organisation, there is a business need toattain and to maintain the desired quality at an optimum cost; the fulfilment of this aspectis related to the planned and efficient utilization of the technological, human and materialresources available to the organisation.1.2 Scope & ExclusionThe scope of the quality management system is to demonstrate the capability of LehmanBrothers Ltd. to provide financial services to personals as well as any company. Followingthe ISO 9001: 2008 standards does this, but with an exclusion for section 7.3 Design andDevelopment.The policies specified are primarily aimed at achieving customersatisfaction. Confidence infinancial and banking servicesconformance can be attained by adequate demonstration ofourcapabilities in investment, liquidity of money and faith of our stake holders.We are justifying an exemption from design because wemanufacture all products based oncustomer requirements: • Design is not required and the services requirements are stated by our market survey team and customer interaction team.
  8. 8. Quality Manual Approved By Issue No. 01 Revision No. 0 Document No : Issue Date : Page |8 QM-201103-01 20th March’20111.3 Policy1. Lehman Brothers Ltd. will establish, document, implement, and maintain a qualitymanagement system and continually improve its effectiveness in accordance with therequirements of ISO 9001:2008.2. Lehman Brothers Ltd. will: 2.1 Identify the processes needed for the Quality Management System and their application throughout the organization; 2.2 Determine the sequence and interaction of these processes; 2.3 Determine criteria and methods needed to ensure that both the operation and control of these processes are effective; 2.4 Ensure the availability of resources and information necessary to support the operation and monitoring of these processes; 2.5 Monitor, measure, and analyze these processes, and; 2.6 Implement actions necessary to achieve planned results and continual improvement of these processes.3. These processes will be managed by Lehman Brothers Ltd. in accordance with therequirements of ISO 9001:2008.4. If Lehman Brothers Ltd. chooses to outsource any process that affects product conformitywith requirements; Lehman Brothers Ltd. will ensure control over these processes. Controlof these processes will be identified within the Quality Management System.
  9. 9. Quality Manual Approved By Issue No. 01 Revision No. 0 Document No : Issue Date : Page |9 QM-201103-01 20th March’2011 2. Normative referencesThe following referenced documents are indispensable for the application of this document.For datedreferences, only the edition cited applies. For undated references, the latestedition of the referenced document (including any amendments) applies. 3. Terms and definitionsThe following terms and definitions are provided to assure a uniform understanding ofselected terms as they are used in these requirements.Company Lehman Brothers Ltd. Fund provides financing to small and mid-sized companies.Supplier Targeted investments are used to finance buyouts, recapitalizations, strategic acquisitions, and later stage growth. Assists individuals, corporations and governments in raisingCustomer capital by underwriting and/or acting as the clients agent in the issuance of securities Product Foreign Exchange, Eommodities, and Equity SecuritiesServices Investment banking,Sales and trading
  10. 10. Quality Manual Approved By Issue No. 01 Revision No. 0 Document No : Issue Date : P a g e | 10 QM-201103-01 20th March’2011 4. Quality management systemQuality is how good a product is and it is synonymous with the high expectations ofcustomers towards a product or a service (Garvin,1988). Also, quality is the plenitudeof characteristics andattributes of service which satisfy given needs of customers(ANSI,1978). Moreover, quality is the ability of an enterprise to focus onthe existingand expected needs of its customers, to improve itslabour culture with thecooperation and development of its workers, tocreate relations of confidence withexterior collaborators andcustomers, to self-assess the systems of administration,tostrengthen learning and innovation and finally, to evaluate theresults of all theabove (EFQM).4.1 Documentation Structure Documentation is structured in two levels. The Lehman Brothers Ltd quality of thedocumentation is defined as Lehman Brothers Ltd Quality Manual, which provides allnecessary and relevant information relating to Quality Management System,established and implemented in the organization. The second level of thedocumentation provides detailed procedures along with SOPs (StandardOperating Procedures) and work instructions. The documentation structure isdiagrammatically represented as below: Lehman Brothers Ltd. Quality Manual Standard Operating Procedure,Work Instructions and Procedure for Implementation
  11. 11. Quality Manual Approved By Issue No. 01 Revision No. 0 Document No : Issue Date : P a g e | 11 QM-201103-01 20th March’20114.2 Control of Documents All of the QMS documents are controlled according to the Document ControlProcedure (QP-1023-01). This procedure defines the process for:  Approving documents for adequacy prior to issue  Reviewing and updating as necessary and re-approving documents  Ensuring that changes and current revision status of documents are identified  Ensuring that relevant versions of applicable documents are available at points of use  Ensuring that documents remain legible and readily identifiable  Ensuring that documents of external origin are identified and their distribution controlled,  Preventing the unintended use of obsolete documents and to apply suitable identification to them if they are retained for any purposeDepartmental managers should always be responsible for promoting good document andrecord management practices in their area whilst supporting overall compliance to thedocument control procedure.Individuals and their line managers should be responsible for the documents and recordsthat they create, as well as being responsible for their retention and disposal in line withlegislative requirements and organizational procedures and practices.If you don’t want to control external documents, you must specifically state this in theprocedure and on the documents themselves, which are ‘For Reference Only’ and are notupdated.
  12. 12. Quality Manual Approved By Issue No. 01 Revision No. 0 Document No : Issue Date : P a g e | 12 QM-201103-01 20th March’20114.3 Control of RecordsQuality records are maintained to provide evidence of conformity torequirements and of the effective operation of the QMS. The records aremaintained according to the Control of Quality Records Procedure (QP-1024-01).This procedure requires that quality records remain legible, readily identifiableand retrievable. The procedure defines the controls needed for identification,storage, protection, retrieval, retention time and disposition of quality records.This because records are an important organizational asset; they provide the primaryroute for evidence based verification and traceability since they demonstratecompliance with customer requirements. Records also prove the efficacy of the QMS.  Records are used to prove compliance against requirements  Develop and implement the control of records procedure  Maintain the legibility and accessibility of QMS documents and recordsImplementing a document management system could mean keeping certain recordsthat your organization might not be already keeping. Some of these records mayseem a little confusing until you become more familiar with the quality standard.Of course, you are free to keep more records than those listed below, if you feel yourorganization needs them, but as we always preach; keep your system simple. Thefewer documents and records you keep, the fewer things that will be audited, andthe more time you will have to actually run your business.Keep in mind that you are free to combine some of these records where it makessense, for example, you could combine the corrective and preventive action requestlog with a simple checkbox to note which one it is. You could also combine bothcorrective and preventive action requests onto one form, again with a simple checkbox to designate its purpose.
  13. 13. Quality Manual Approved By Issue No. 01 Revision No. 0 Document No : Issue Date : P a g e | 13 QM-201103-01 20th March’2011 5. Management ResponsibilityTop management must: Communicate to the organisation the importance of meeting customer requirements Communicate to the organisation the importance of meeting regulatory requirements Ensure that quality objectives are created Ensure that quality measurements are taken and recorded Ensure that quality measurements are compared against quality objectives Conduct periodic management reviews Review the quality system and make changes where necessary Provide evidence of management reviews
  14. 14. Quality Manual Approved By Issue No. 01 Revision No. 0 Document No : Issue Date : P a g e | 14 QM-201103-01 20th March’20115.1 Management CommitmentManagement Commitment is direct participation by the highest level executives in aspecific and critically important aspect or program of an organization. In qualitymanagement it includes: 1. Setting up and serving on a quality committee 2. Formulating and establishing quality policies and objectives 3. Providing resources and training 4. Overseeing implementation at all levels of the organization 5. Evaluating and revising the policy in light of results achieved.5.2 Customer FocusEvery organization depends on its customers. Without satisfied customers, theorganization cannot exist. Therefore, this requirement of ISO 9001:2000 is the core ofthe quality management system.There should be some method of establishing how customer requirements aredetermined. Methods could include: 1. Carrying out market / customer survey 2. Access to industry reports 3. Identification of niche marketing opportunities Benefits: Increased revenue and market share obtained through flexible and fast responses to market opportunities. Increased effectiveness in the use of the organizations resources to enhance customer satisfaction. Improved customer loyalty leading to repeat business.
  15. 15. Quality Manual Approved By Issue No. 01 Revision No. 0 Document No : Issue Date : P a g e | 15 QM-201103-01 20th March’2011 Application: Researching and understanding customer needs and expectations. Ensuring that the objectives of the organization are linked to customer needs and expectations. Communicating customer needs and expectations throughout the organization. Measuring customer satisfaction and acting on the results. Systematically managing customer relationships. Ensuring a balanced approach between satisfying customers and other interested parties5.3 Quality Policy5.3.1 Policy Segmentation 1. The relative amounts of Lehman Brothers Ltd.Quality Control Plan will be determined by Bank liquidity,respective market values, individual security "risk/return" profiles, and other factors such as theBanks tax position. 2. Quality Policy may only be changed inLehman Brothers Ltd.for permissible reasons: a. Less than 3 months to maturity or effective Policy Revise date. b. Less than 15% of purchase faces reported by customers. c. Deterioration of issues creditworthiness. d. Change in the tax laws (not tax rates).5.3.2Quality Policy Accounting 1. Policiesin the Lehman Brothers Ltd.will be accounted for at amortized cost. 2. Policies in Lehman Brothers Ltd.will be accounted for at fair value with the net gain/loss (adjustedfor tax) reflected in the Banks capital. 3. Any changes between policies will be accounted for at fair value.
  16. 16. Quality Manual Approved By Issue No. 01 Revision No. 0 Document No : Issue Date : P a g e | 16 QM-201103-01 20th March’20115.3.3Implementation Procedures 1. The purchase, sale and/or exchange shall be made by the SeniorInvestment Officer, as authorized by the Investment Committee according to Quality Policies that areapproved by the Board of Directors. 2. Orders for the purchase and/or sale of Federal Funds shall be made by the Senior InvestmentOfficer or his/her staff subject to policy determined by the Investment Committee 3. Acquisition of large Certificates of Deposit over $100,000 will be coordinated by the SeniorInvestment Officer and his/her staff with regard to amount, maturity and rates. 4. All public funds deposits requiring collateral will be coordinated through the Senior InvestmentOfficer to assure proper rate setting and pledging.5.3.4Acceptable Lot Sizes 1. U.S. Treasury, Federal Agency, and other taxable issues are to be purchased in minimums of$100,000 2. Municipal securities are to be purchased in minimums of $100,000 when possible.
  17. 17. Quality Manual Approved By Issue No. 01 Revision No. 0 Document No : Issue Date : P a g e | 17 QM-201103-01 20th March’2011 5.4Planning 5.4.1 The Quality Assurance Plan 1. The QA Plan is a Government document used as a management tool. Thecomponents of a QA Plan are: • Government staffing requirements. • Functions of each QA team member. • Government training requirements. • Government pre-award activities. • Definable Features of Work (DFOW) list. • Government surveillance and testing activities. 2. The QA Plan ensures that all team members are following the same plan andachieves better coordination of the government’s QA activities. 5.4.2 The Quality Control Plan  The QC Plan must be received, reviewed, and formally accepted by the Contracting Officer or their representatives before any construction work can begin.  Resident Management System (RMS) is a Lehman Brothers Ltd. data management system that provides an easy mechanism for developing a QC Plan based on contractor input. 5.4.3 Quality Control Plan Components  Table of Contents – A listing of the major sections identified with tabs in the order of the bulletined items following hereafter.  QC Organization – The QC organization must be identified, including a chart showing the organizational structure and lines of authority.  Names and Qualifications – The names, qualifications, and classification of each member of the contractor’s quality control team must be provided.  Duties, Responsibilities and Authorities of QC Personnel – Provide a listing of assigned quality control activities for performance.
  18. 18. Quality Manual Approved By Issue No. 01 Revision No. 0 Document No : Issue Date : P a g e | 18 QM-201103-01 20th March’2011 5.5 Responsibility, Authority & Communication5.5.1 Responsibility and AuthorityAn organizational chart has been established to show the interrelation ofpersonnel in the organization. Job descriptions define the responsibilities andauthorities of each of the positions on the organizational chart. Job descriptionsand the organizational chart are reviewed and approved by executive management foradequacy.
  19. 19. Quality Manual Approved By Issue No. 01 Revision No. 0 Document No : Issue Date : P a g e | 19 QM-201103-01 20th March’2011 Chairman & managing director: He is ultimately responsible for making balanced judgments, assessing the significance of variations in the processes and making decisions. ISO 9001-2008 Management representative: The ISO 9001-2008 management representative is responsible for ensuring that the requirements of model IS0 9001- 2008 are implemented and maintained. He is also responsible for the controlled internal distribution of the Quality manual and changes thereto. Director (operations & service): It is his job to co-ordinate and overlooks all operations/services undertaken daily in the organisation and to implement the quality standards assured by the firm according to ISO 9001-2008 regulations. Director (Human Resources) maintains the records of employee qualifications. He prepares job descriptions identifying the qualifications required for each position that affects conformity to product requirements. Director (Finance) All financial activities of the organisation are overlooked by him. It is also his job to see whether the organisation has been following ISO 9000 as well as financial laws imposed by the concerned Govt. while carrying out numerous financial activities. General Managers: The general managers are responsible for assuring that Quality Systems are followed in their area.5.5.2 Management Representative A management representative has been appointed by the Chairman as Management Representative. As management representative, he has the following responsibilities and authority: Ensure that processes needed for the quality management system are established and implemented. Report to general management on the performance of the quality management system and note any needed improvements. Promote awareness of customer requirements throughout the organization.
  20. 20. Quality ManualApproved By Issue No. 01 Revision No. 0Document No : Issue Date : P a g e | 20QM-201103-01 20th March’20115.5.3 List of Processes Money Transaction Foreign Currency Exchange Investment Banking Capital Marketing Equity Financing Real Estate Asset Management Mutual Funds
  21. 21. Quality Manual Approved By Issue No. 01 Revision No. 0 Document No : Issue Date : P a g e | 21 QM-201103-01 20th March’2011 PROCESS NAME DATE OF ISSUE: MONEY TRANSACTION APPROVED BY: (BANKING PROCESS)INPUT SPECIFICATION PROCESS OUTPUT SPECIFICATION SPECIFICATION1.PURCHASE SPECIFICATION AND IBA REGULATIONS FOR TRANSACTION 1.LOAN SHOULD BE GIVEN BASED ONTECHNICAL SPECIFICATION TO BE ARE TO BE FOLLOWED PERSONS CURRENT INCOMEFOLLOWED RECORDS AND RETIREMENT PERIOD2. DEPOSIT ENTRIES SHOULD BECHECKED THOROUGHLY 2.RECORDS OF CASH DEPOSIT AND WITHDRAWAL TO BE ENTERED INPUTS RECIEVIN PROCESS DEFINITION FINA OUTPUT G THE PROCESS ESSENTIALLY L1. PURCHASE CHECK COMPRISES OF THE FOLLOWING CHEC2. PRECIOUS INPUT ITEMS 1. LOAN STEPS KMETALS LIKE TO BE CHECK- 2. MONEY RECEIPT 1. CASH RECEIPT AND DEPOSIT CHECK TOGOLD (GOLD ED BY THE (IN FORM OF PASS 2. CASH TRANSACTION IN CASE OF BE MADELOAN) FIELD BOOK ENTRY PURCHASE, LOAN OR MORTGAGE AND3. DEPOSIT MANAGER OR WRITTEN 3. RECORDS TO BE MAINTAINED PROCESSE4. MORTGAGE OF DOCUMENTS) TRANSACTION WHILE TRANSACTION OCCURS S TO BE 3. BANK INTEREST DEPT. THROUGH AUTH- DEBIT, ATM OR CREDIT CARDS ENTICATE 4. BANK INTERESTS RATE IS TO BE D BY THE MAN- REVISED TIME TO TIME AGER OF THE FINANCE DEPARTME NT DESCRIPTION OF RESOURCE PROCESS OWNER DEPUTY MANAGER FINANCE DEPT. SUPPLIERS PROCESS OPERATORCLERKS OF FINANCE CUSTOMERS DEPT.1.GOVERNMENT LOCAL COMPANY2.LOCAL AUTHORITIES A PERSON OR A GROUP OF PEOPLE EFFECTIVENESS3. A PERSON OR GROUP OF PEOPLE INDICATOR THE COUNTING PROCESSES, MACHINES FOR EFFICIENCY COUNTING CASH ARE TO BE EXAMINED TIMELYINDICATOROF WORK AND QUALITY PERIODICALLY AND AS WELL AS THE WORK ARE TO BE CHECKED. MANUAL WORKING ARE SUBJECTED TO STRONG VIGILANCE VIGILANCE CAN BE MADE
  22. 22. Quality Manual Approved By Issue No. 01 Revision No. 0 Document No : Issue Date : P a g e | 22 QM-201103-01 20th March’2011 DATE OF ISSUE: APPROVED BY: PROCESS NAME FOREIGN CURRENCY EXCHANGEINPUT SPECIFICATION PROCESS SPECIFICATION OUTPUT SPECIFICATIONCURRENCY OF ONE COUNTRY. EXCHANGE OF MONEY TO BE MADE CURRENCY OF THE DESIGNATED BETWEEN TWO CURRENCY SYSTEMS. COUNTRY.INPUTS RECIEVIG PROCESS DEFINITION FINAL OUTPUT CHECK THIS PROCESS COMPRISES OF THE CHECK MONEY IN FORM OF1.TRAVELLERS FOLLOWING EXCHANGEDCHEQUE. 1. AMOUNT 1. RECIPT OF MONEY CHECK CURRENCY.2. FOREIGN OF MONEY 2. CHECKING OF THE CURRENT PERFORMECURRENCY CASH TO BE EXCHANGE RATE BETWEEN TWO D BY3. FOREIGN EXCHANGED CURRENCIES GOVT.CURRENCY DRAFTS. 2. CURRENT 3. PROCESSING OF THE MONEY. FINANCE4. CHEQUE DEPOSITES EXCHANGE 4. DELIVERY OF THE MONEY IN THE OFFICIALS. RATE OF DESIGNATED CURRENCY. CONVERSION BETWEEN TWO CURRENCIES. SUPPLIERS DESCRIPTION OF CUSTOMERS RESOURCEBOND HOLDERS LIKE CENTRAL BANKS 1. IMPORT/EXPORT DEALERS ANDOR OTHER MONEYTORY AUTHORITIES BUSSINESSMANOF A COUNTRY. 1. FOREIGN EXCHANGE RESERVES 2. PEOPLE IN GENERAL WHO MAKES 2. MAN POWER AT DIFFERENT LEVELS IN FREQUENT OVERSEAS TRIP. 3. FOREIGN NATIONALS WHO NEED THE FORM OF BANK EMPLOYEES TO MAKE OFFSHORE MONEY PROCESS OWNER LEHMAN BROTHERS TRANSFER. PROCESS OPERATOR EFFICIENCY INDICATOR EFFECTIVENESS 1. HOW FAST THE PROCESS IS BEING EXECUTED. INDICATOR 2. HOW SMOOTHLY THE MONEY 1. NETWORK OF THAT PARTICULER BANK. 2. SERVICE COST BEING CHARGED BY THE EXCHANGE TAKES PLACE WITHOUT ANY BANK. COMPLICATIONS
  23. 23. Quality Manual Approved By Issue No. 01 Revision No. 0 Document No : Issue Date : P a g e | 23 QM-201103-01 20th March’2011 DATE OF ISSUE: APPROVED BY: PROCESS NAME INVESTMENT BANKING INPUTSPECIFICATION PROCESSSPECIFICATION OUTPUT PROVIDING ASSISTANCE TO THE SPECIFICATION MAXIMIZED RETURN OFENTITIES WHICH CAN BE CONSIDERED INVESTING PARTY IN RAISING CAPITAL INVESTMENT.ASSETS LIKE PENSION FUNDS, HEDGE BY UNDERWRITING OR BY ACTING ASFUNDS, MUTUAL FUNDS. CLIENTS AGENT. INPUTS RECIEVIN PROCESS DEFINITION FINALC OUTPUT G CHECK HECKASSETS OR THE PROCESS IS ACCOMPLISHED BY ENTITIES RETURN OFSECUIRITY. WHICH CAN BE INVESTMENT IN CHECKING THE CONSIDERED TERMS OF SUSTAINABILIT ASSETS LIKE MONEY WITH Y PENSION INTEREST ISSUES FUNDS, HEDGE OR BONDS. BY RESEARCH FUNDS, AND MUTUAL ADVISORY FUNDS. AGENCIES. REGULARITY AUTHORITY IN U.S SUPPLIERS CUSTOMERS DESCRIPTION OFBROKERS RESOURCE INDIVIDUALS, CORPORATIONSINVESTIGATION AGENCIES OR GOVERNMENTS. PROCESS OWNER LEHMAN BROTHERS PROCESS OPERATOR EFFECTIVENESS EFFICIENCY INDICATOR WHETHER THE CLIENT IS GETTING INDICATOR MINIMIZATION OF RISK IN MAXIMUM RETURN OF HIS INVESTMENT. INVESTMENT.
  24. 24. Quality Manual Approved By Issue No. 01 Revision No. 0 Document No : Issue Date : P a g e | 24 QM-201103-01 20th March’2011 DATE OF ISSUE: APPROVED BY: PROCESS NAME CAPITAL MARKETING PROCESS INPUT PROCESS OUTPUT SPECIFICATION1.EFFECTIVE VALUATION OF ASSETS SPECIFICATION IBA REGULATIONS FOR SPECIFICATION 1. LONG TERM INVESTMENT SHOULDARE TO BE MADE TRANSACTION ARE TO BE BE WELL RECORDED AND FLEXIBILITY2.COMPLIANCES WITH RULES AND FOLLOWED OF DEPOSIT AND WITHDRAWALREGULATIONS SHOULD BE THERE 2. STRATEGIC HELPS TO BE GIVEN IN CRITICAL TIME INPUTS RECIEVIN PROCESSDEFINITI FINALC OUTPUT1.LONG TERM G THE PROCESSON ESSENTIALLY HECK 1.ISSUANCEINVESTMENT COMPRISES OF THE STRATEGY AND2.SALE OF CHECK FOLLOWING STEPS DIVERSE PRODUCT CHECK TO BESHARES MIX MADE AND3.CAPITAL BY INPUT ITEMS TO 2.FINANCIAL PROCESSESISSUING OF BE CHECK- 1.PROCESS ARCHITECTURE STRENGTH TO BE AUTH-BONDS ED BY THE FIELD AND OPERATION 3.TRACK RECORD IN ENTICATED BY MANAGER 2.COST CUTTING AND COST INNOVATION THE MAN- OF TRANSACTION OPTIMIZATION 4.INTEGRATED AND AGER OF THE DEPT. 3.EMPLOYEE BENEFITS AND PRACTICAL FINANCE COMPENSATION PROGRAMME SOLUTION DEPARTMENT 4.DOWNSIZING AND CURVE- OUT SUPPLIERS DESCRIPTION OF CUSTOMERS RESOURCE1.GOVERNMENT STOCK EXCHANGE2.LOCAL AUTHORITIES PROCESS OWNER DEPUTY MANAGER FINANCE DEPT. GOVERNMENT3,A PERSON OR GROUP OF PEOPLE BIG COMPANIES PROCESS OPERATOR CLERKS OF FINANCE DEPT. EFFECTIVENESS INDICATOR THE COUNTING PROCESSES, MACHINES FOR COUNTING CASH ARE TO BE EXAMINED EFFICIENCY PERIODICALLY AND AS WELL AS THE INDICATOR TIMELY WORK AND QUALITY OF MANUAL WORKING ARE SUBJECTED TO WORK ARE TO BE CHECKED. VIGILANCE STRONG
  25. 25. Quality Manual Approved By Issue No. 01 Revision No. 0 Document No : Issue Date : P a g e | 25 QM-201103-01 20th March’20115.6 Management Review 5.6.1 General Board of Directors reviews the QMS annually at management review meetings. This review assesses the continuing QMS suitability, adequacy and effectiveness, identifying opportunities for improvement and needed changes. Records are maintained for each management review meeting. 5.6.2 Review Input Assessment of the QMS is based on a review of information inputs to management review. These inputs include the following:  Results of audits  Customer feedback  Process performance and product conformity  Status of corrective and preventive actions  Follow-up actions from previous management reviews  Planned changes that could affect the QMS and  Recommendations for improvement 5.6.3 Review Output During these review meetings, management will identify appropriate actions to be taken regarding the following issues:  Improvement of the QMS and its processes.  Improvement of product related to customer requirements, and  Resource needs Responsibilities for required actions are assigned to members of the management review group. Any decisions made during the meeting, assigned actions and their due dates are recorded in the minutes of management review. The records of these annual reviews are to be preserved, controlled and circulated throughout the organisation according to the Document Control Procedure.
  26. 26. Quality ManualApproved By Issue No. 01 Revision No. 0Document No : Issue Date : P a g e | 26QM-201103-01 20th March’2011 6. Resource Management6.1 Provision of ResourcesExecutive Management ensures that resources essential to the implementation;maintenance and improvement of the quality management system are identified andmade available.6.2 Human Resources 6.2.1 GeneralTo ensure the competence of personnel, job descriptions have been preparedidentifying the qualifications required for each position that affects conformity toproduct requirements. Qualifications include requirements for education, skills andexperience. Appropriate qualifications, along with required training, provide thecompetencies required for each position.6.2.2 Competence, Training and AwarenessQualifications are reviewed upon hire, when an employee changes positions or therequirements for a position change. Human Resources maintain records of employeequalifications. If any differences between the employee’s qualification and therequirements for the job are found, training or other action is taken to provide theemployee with the necessary competence for the job. The results are then evaluated todetermine if they were effective.All employees are trained on the relevance and importance of their activities and howthey contribute to the achievement of the quality objectives.
  27. 27. Quality ManualApproved By Issue No. 01 Revision No. 0Document No : Issue Date : P a g e | 27QM-201103-01 20th March’20116.3 Infrastructure Lehman Brothers Ltd Executive Management is committed to providing and maintaining suitable facilities that are necessary to implement the Quality Management System that will achieve conformity of product. The required infrastructure and resources are identified, as applicable this includes: building facilities, necessary work space, associated facilities, process equipment, information systems, communication media and transportation. An electronic maintenance program specifies the type and the frequency of needed maintenance, the methods for maintenance and the verification of its completion. Executive Management ensures the timely availability of identified and approved resources.6.4 Work Environment Executive Management ensures that the appropriate human and physical factors of the work environment are considered and provided, including such factors as noise, temperature, lighting and etc. Lehman Brothers Ltd is committed to maintain its facilities in a safe and healthy manner establish and provide an infrastructure that is needed to comply with product requirements.
  28. 28. Quality Manual Approved By Issue No. 01 Revision No. 0 Document No : Issue Date : P a g e | 28 QM-201103-01 20th March’2011 7. Product realization7.1Planning of product realization Lehman Brothers Ltd. Identifies and plans the processes, account monitoring, investments and servicing processes which directly affect quality. Each step of the production process follows a predetermined plan. It expects that the process, no matter how many steps are involved, has carefully planned and documented procedures and that adequate check points have been designated throughout the process so as to verify that the end product will be of satisfactory quality. The quality planning may take place as a design project, or according to the Quality planning procedure. The output of quality planning includes documented quality plans, processes, procedures and design outputs. Process control model
  29. 29. Quality Manual Approved By Issue No. 01 Revision No. 0 Document No : Issue Date : P a g e | 29 QM-201103-01 20th March’20117.2Customer-related processes 7.2.1 Determination of requirements related to the product Lehman Brothers Ltd has documented the procedures for the determination of Requirements which are stated by the customer Requirements which are not stated by the customer like the timely completion and efficient workings Statutory and regulatory requirements Other requirements Reviews of customer specifications are performed when received and any requirements documented for implementation as applicable. These may take the form of quality assurance instructions, standard comments for specific customer orders, instructions for design implementation or the use of industry standards for design, product fabrication, validation and/or verification processes. 7.2.2 Review of requirements related to the product Lehman Brothers Ltd has created a formal system ensure that each commitment to supply a product is formally reviewed and controlled. The review is conducted prior to the commitment to supply a product and ensures that: The requirements are adequately defined and documented. Where the customer provides no written statement of requirements, the order requirements are confirmed verbally before acceptance; That Lehman Brothers Ltd has the resources to meet the defined requirements, and that; Any differences between the contract and the tendered quotation are resolved to the mutualsatisfaction of the involved parties before formal acceptance of the contract. In the event of product/contract requirement amendments, appropriate notification is given toaffected departments within LEHMAN BROTHERS LTD and that relevant documentation is revised.Record requirements from these reviews are shown on the quote, e-mails, and/or the order acknowledgement.
  30. 30. Quality ManualApproved By Issue No. 01 Revision No. 0Document No : Issue Date : P a g e | 30QM-201103-01 20th March’20117.2.3 Customer communicationLEHMAN BROTHERS LTD recognizes the necessity for customer communication andfeedback as a major contributing element of customer satisfaction and hasimplemented an effective process for communicating with customers. LEHMAN BROTHERS LTD produces hard copy product and services catalogues andcatalogues on CD’s for each of its three divisions LEHMAN BROTHERS LTD maintains a comprehensive website Customers can contact LEHMAN BROTHERS LTD via phone, e-mail, fax and mail Customer complaints are handled through the Sales Department Customer Satisfaction Surveys are used to monitor customer satisfaction 7.3Design and development7.3.1 Design and development planningThe company reviews and evaluates design requirements to ensure that the productsit designs and/or develops meet or exceed customer specifications. In the course ofaddressing technical, logistical and financial concerns that impact the design processactivities, LEHMAN BROTHERS LTD consistently exercises its organizational interfaces.Planning is maintained to its most current status, as appropriate, as design activitiesprogress.7.3.2 Design and development inputsLEHMAN BROTHERS LTD identifies design and development inputs and any applicablestatutory or regulatory requirements during contract review and/or customermeetings. Ambiguous, conflicting, changing and unclear/incomplete requirements areclarified by reviews of the design at various stages of the designing process. Designrequirements are amended to accurately capture all pertinent design inputinformation. Design and development inputs, where applicable, are derived fromprevious similar designs and other requirements essential for design and development.
  31. 31. Quality ManualApproved By Issue No. 01 Revision No. 0Document No : Issue Date : P a g e | 31QM-201103-01 20th March’20117.3.3 Design and development outputsLEHMAN BROTHERS LTD captures design and development outputs in design reviewminutes and customer reviews as needed. The reviews are performed specifically toverify that design output meets or exceeds design input requirements, contains orreferences acceptance criteria, and identifies characteristics of the design crucial to thesafe and proper functioning of the product. It also assures design output is reviewedand approved prior to release. Design and development outputs provide appropriateinformation for purchasing, production and for service provision. The design controlprocedure assures that all pertinent data required for the product to be identified,manufactured, inspected, used and maintained is defined.7.3.4 Design and development reviewThe design control procedure assures that the appropriate stages of design, formal orrotating documented design reviews are planned and conducted in accordance withplanned arrangements and include representatives of all functions concerned with thedesign stage being reviewed, as well as other specialist personnel as required. Recordsof such reviews and any necessary actions are maintained. The design controlprocedure assures that consideration to the validity of design in relation to theobjectives of the design stage, actions to be taken in the event of any identifieddeviation and decisions necessary for progression to the next phase.7.3.5 Design and development verificationThe design control procedure assures that at appropriate stages of design, designverification is conducted in accordance with planned arrangements to assure thedesign stage output meets the design stage input requirements. Records of designverification and any necessary actions are maintained.7.3.6 Design and development validationThe design control procedure assures that design validation is performed inaccordance with planned arrangements to ensure that the resulting product is capableof meeting the requirements for the specified application or intended use, where
  32. 32. Quality ManualApproved By Issue No. 01 Revision No. 0Document No : Issue Date : P a g e | 32QM-201103-01 20th March’2011known. Wherever practicable, validation is completed prior to the delivery ofimplementation of the product. Records of the results of validation and any necessaryactions are maintained.7.3.7 Control of design and development changesThe design control procedure assures that design validation is performed inaccordance with planned arrangements to ensure that the resulting product is capableof meeting the requirements for the specified application or intended use, whereknown. Wherever practicable, validation is completed prior to the delivery ofimplementation of the product. Records of the results of validation and any necessaryactions are maintained applicable verification and/or validation performed. 7.4Purchasing7.4.1 Purchasing processLehman Brothers Ltd shall ensure that purchased product conforms to specifiedpurchase requirements. Lehman Brothers Ltd shall evaluate and select suppliers basedon their ability to supply products in accordance with Lehman Brothers Ltd’srequirements. Records shall be maintained about the clients, investors or borrowersregarding - Evaluation and selection - control of accounts - selecting the degree of control7.4.2 Purchasing informationPurchasing information describes the product or the service to be purchased, includingwhere appropriate: Requirements for approval of product, processes, procedures, services andequipment Requirements for qualification of personnel Quality management system requirements
  33. 33. Quality ManualApproved By Issue No. 01 Revision No. 0Document No : Issue Date : P a g e | 33QM-201103-01 20th March’2011The purchasing documents are reviewed to ensure the adequacy of requirementsbefore orders are placed with the supplier.7.4.3 Verification of purchased productThe Purchasing procedure describes the process used to verify thatpurchased product meets specified purchase requirements. If LehmanBrothers Ltd. or the customer will perform verification at the supplier’spremises; the verification arrangements and method of product release aredocumented in the purchasing information. 7.5Production and service provision7.5.1 Control of production and service provisionLehman Brothers Ltd shall plan and carry out production and service provision undercontrolled conditions. Controlled conditions shall include, as applicable:• The availability of information that describes the characteristics of the product• The availability of work instructions, as necessary• The availability and use of monitoring and measuring devices• The implementation of monitoring and measurement• The implementation of release, delivery and post-delivery activities.Controlled conditions include too:- Documented procedures which should define: ∗The qualifications required for the person carrying out the procedure, if any special qualifications are required ∗The preparatory steps to be taken to prepare the product for processing ∗The preparatory steps to be taken to set up any equipment ∗The steps to be taken to process the product ∗The precautions to observe ∗The settings to record.
  34. 34. Quality ManualApproved By Issue No. 01 Revision No. 0Document No : Issue Date : P a g e | 34QM-201103-01 20th March’2011 - Suitable production, installation, and servicing equipment, and a suitable working environment. ∗ Documentation from the standards that are to be maintained∗ providing training for staff∗ providing procedures for maintaining the equipment to these standards∗maintenance of records of the conditions as a means of demonstrating that thestandards are being achieved.- Compliance with reference standards/codes, quality plans and/or documentedprocedures - Monitoring and control of process parameters and product characteristics - Approval of processes and equipment - Workmanship criteria, can comprise: ∗a list of the equipment upon which process capability depends ∗ defined maintenance requirements specifying maintenance tasks and their frequency7.5.2 Validation of processes for production and service provisionLEHMAN BROTHERS LTD validates any processes for production and service provisionwhere the resulting output cannot be verified by subsequent monitoring ormeasurement. This includes any processes where deficiencies become apparent onlyafter the product is in use or the service has been delivered.Validation demonstrates the ability of these processes to achieve planned results.7.5.3 Identification and TraceabilityLEHMAN BROTHERS LTD identifies the product throughout the product realization,identifying the product status with respect to monitoring and measurementrequirements. LEHMAN BROTHERS LTD controls and records the unique identificationof the product where ever traceability is a specified requirement.7.5.4 Customer PropertyLEHMAN BROTHERS LTD exercises care with customer property while it is under thecompany’s control or being used. The work instruction, outlines the identification,verification, protection and safeguarding of customer property provided for use. If anycustomer property is lost, damaged or otherwise found to be unsuitable for use, this isreported to the customer and records are maintained
  35. 35. Quality ManualApproved By Issue No. 01 Revision No. 0Document No : Issue Date : P a g e | 35QM-201103-01 20th March’20117.6 Control of Monitoring and Measuring Equipment The monitoring and measurement to be undertaken is identified and themonitoring and measuring equipment needed to provide evidence of conformity ofproduct to specified requirements is determined. Measuring and monitoringequipment is used and controlled to ensure that measurement capability is consistentwith monitoring and measurement requirements. In addition, Quality Control reviews and records the validity of the previousmeasuring results when the equipment is found not to conform to requirements.LEHMAN BROTHERS LTD takes appropriate action on the equipment and any productaffected. Records of the results of calibration and verification are maintained. Thecapability of computer software to satisfy the intended application is established priorto initial use and reconfirmed as necessary, when used in the monitoring andmeasurement of specified requirements.
  36. 36. Quality ManualApproved By Issue No. 01 Revision No. 0Document No : Issue Date : P a g e | 36QM-201103-01 20th March’2011 8.MEASUREMENT, ANALYSIS AND IMPROVEMENT 8.1 GENERALLehman Brothers Ltd has plan and implemented the monitoring, measurement,analysis and improvement processes needed. This includes determination ofapplicable methods, including statistical techniques, and the extent of their use. Deviations become promptly detected by planned monitoring, measurement,analysis and improvement before, while and after the service contribution or theproduct creation and if necessary corrective actions are taken. The executedchecks should be adapted at the sequence in the work areas; the later the checkthe more costly the rework. But type and scope of activities of the checks must beeconomically justifiable. The application of statistical methods is possible only invery limited measure for a ship model basin because performance essentiallyconsists of scientific-technical performances and products in one-off production. 8.2 MONITORING AND MEASUREMENT8.2.1 Customer SatisfactionLehman Brothers Ltd monitors information relating to customer perception as towhether the organization has met customer requirements. The measurement andmonitoring of the customer satisfaction are based on the evaluation of customer’s
  37. 37. Quality ManualApproved By Issue No. 01 Revision No. 0Document No : Issue Date : P a g e | 37QM-201103-01 20th March’2011information, which can be collected actively or passively. The methods forobtaining and using this information shall be determined.8.2.2 Internal AuditLehman Brothers Ltd conducts internal audits at planned intervals to determinewhether the quality management system: Conforms to the planned arrangements (see 7.1), to the requirements of this International Standard and to the quality management system requirements established by the organization Is effectively implemented and maintained. An audit program has been designed and implemented and identifies an audit schedule based on the importance of the areas to be audited, as well as the results of previous audits. The scope of each activity audit (per the audit schedule) is to verify compliance of that activity to the ISO 9001: 2000 elements shown on the activity matrix. The audit criteria, frequency, methods, responsibilities and requirements for planning and conducting audits, and for reporting and maintaining results, are defined and documented in the Internal Audit procedure8.2.3 Monitoring and measurement of processesLehman Brothers Ltd applies suitable methods for monitoring and measurement ofthe quality management processes.For the evaluation of the effectiveness of the quality management processes maybe executed on the internal audit a self-assessment for selected areas of theorganization by top management following the standard DIN EN ISO 9004
  38. 38. Quality ManualApproved By Issue No. 01 Revision No. 0Document No : Issue Date : P a g e | 38QM-201103-01 20th March’2011Appendix A. The evaluation of the requirements and expectations of theinterested parties are to be the center of attention like - Abilities of the organization - Response time to inquiries - Use of technologies - Input-output ratio.8.2.4 Monitoring and Measurement of ProductLehman Brothers Ltd monitors and measures the characteristics of the product toverify that product requirements have been met. In agreement with the plannedregulations in the quality management manual chapter 7.1 "Planning of ProductRealization" in suitable phases of the product realization or service provisionchecks are executed. Recordings of these checks are created in accordance withquality management manual chapter 4.2.4 "Control of records". The product monitoring and measurement plans should:Identify the product to be inspected and testedDefine the specification and acceptance criteria to be used and the issue statuswhich appliesDefine the inspection aids and test equipment to be used; standard measuringequipment would not need to be specified as your inspectors and testers shouldbe trained to select the right tools for the job; any special equipment should beidentifiedDefine the environment for the measurements to be made if critical tomeasurement accuracy
  39. 39. Quality ManualApproved By Issue No. 01 Revision No. 0Document No : Issue Date : P a g e | 39QM-201103-01 20th March’2011Identify the organization which is to per-form the inspections and testsMake provision for the results of the inspections and test to be recorded. 8.3 CONTROL OF NONCONFORMING PRODUCTA nonconforming product is one that does not conform to the specifiedrequirements. Specified requirements are either requirements prescribed by thecustomer and agreed by the organization in a contract for products or ser-vices, orare requirements prescribed by the organization which are perceived as satisfyinga market need.Lehmann Brothers Ltd ensures their services which do not conform to customerrequirements are identified and controlled to prevent their unintended use. Thetop management should empower people in the organization with the authorityand responsibility to report nonconformities at any stage of a process in order toensure timely detection and remedies for nonconformities. Authority for responseto nonconformities should be defined to maintain achievement of process andcustomer requirements.. 8.4 ANALYSIS OF DATALehman Brothers Ltd determines, collects and analyses appropriate data todemonstrate the suitability and effectiveness of the quality management systemand to evaluate. The basic data that are usually collected are increase in number ofaccounts opened, increase in investment etc.Thus this data gives the organization an idea about theCustomer satisfaction (8.2.1)
  40. 40. Quality ManualApproved By Issue No. 01 Revision No. 0Document No : Issue Date : P a g e | 40QM-201103-01 20th March’2011Conformity to service requirements (8.2.4)Characteristics and trends of processes and products, including opportunities forpreventive action (8.2.3 and 8.2.4)Market analysis 8.5 IMPROVEMENT8.5.1 Continual ImprovementIdentification of continual improvement needs are determined by analyzingcustomer satisfaction information, product and process conformance data,supplier performance data, internal audit results and other data and informationrelevant to quality performance.Management review considers all relevant information and defines priorities forimproving the quality system. The corrective action and/or auditing processes areused to formally identify, respond to, verify acceptability of actions and track thecorrective action request or internal audit findings.
  41. 41. Quality ManualApproved By Issue No. 01 Revision No. 0Document No : Issue Date : P a g e | 41QM-201103-01 20th March’20118.5.2 Corrective ActionLehman Brothers Ltd shall take action to eliminate the cause of nonconformities inorder to prevent recurrence. The defined corrective actions are focused on eliminating causes ofnonconformities in order to avoid recurrence. Examples of sources of informationfor corrective action consideration include: - Customer complaints - Nonconformity reports - Internal audit reports - Outputs from management review - Outputs from data analysis - Outputs from satisfaction measurements.
  42. 42. Quality ManualApproved By Issue No. 01 Revision No. 0Document No : Issue Date : P a g e | 42QM-201103-01 20th March’2011 - Relevant quality management system records - The organization’s people - Process measurements - Results of self-assessment.8.5.3 Preventive ActionLehmann Brothers Ltd shall determine actions to eliminate the causes of potentialnonconformities in order to prevent their occurrence. Results of the evaluation ofthe effectiveness and efficiency of the preventive action should be an output frommanagement review, and should be used as an input for the modification of plansand as an input to the improvement processes.

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