Six Sigma is a set of techniques and tools for process improvement that was introduced by Bill Smith at Motorola in 1986. It aims to deliver nearly perfect products and services with a focus on customers and driving results. Six Sigma was later implemented by Jack Welch at General Electric in 1995. It uses statistical methods and two phases (DMAIC and DMADV) to significantly reduce defects. While Six Sigma improves customer experience and lowers costs, it also requires skilled personnel and its rigid processes can hinder innovation.