This document discusses applying Six Sigma methodology to marketing processes. It proposes using various tools and techniques for Six Sigma marketing projects, including models for project management and key performance indicators. Project management is discussed in terms of probability models, regression models, and using critical path methods like PERT to evaluate projects. Key performance indicators discussed include metrics for measuring marketing processes during and after projects to assess performance. The role of supply chain management and information technology in supporting Six Sigma marketing is also addressed.
What is Six Sigma? - Donald P. Lynch, Ph.D.Melissa Paige
Download our free white paper by ISD instructor and Six Sigma Master Black Belt Don Lynch that answers the question "What is Six Sigma?" in terms that everyone can understand.
"One of the reasons it has been so difficult for
those not working in an organization that has
embraced Six Sigma to really understand it
is because Six Sigma means multiple things.
The term Six Sigma is used interchangeably to
reflect a vision, philosophy, commitment, goal,
level of performance, statistical measurement,
metric, benchmark, methodology, systematic
approach, set of statistical tools, and a vehicle
for customer focus, breakthrough improvement
and people involvement. These different
definitions can be summarized in three main
categories; Six Sigma the philosophy, Six Sigma
the metric and Six Sigma the methodology."
Generating ideas is not the issue. Executing on them is. This whitepaper discusses how manufacturers can improve new product development through strategic portfolio management, program execution management, product development, and manufacturing planning and validation. It emphasizes integrating people and processes through capabilities like requirements management, project planning, resource management, and risk management to foster sustainable innovation. Leading companies use product lifecycle management solutions to coordinate development teams and ensure new products meet market needs.
Integrated Strategy and Business Architecture Meta ModelGraham McLeod
This document describes a comprehensive and integrated meta model developed by the author and colleagues at Inspired to support strategy, business architecture, and transformation. The meta model bridges strategic planning, enterprise architecture, and business analysis by drawing from various frameworks and integrating concepts. It addresses shortcomings in existing meta models by incorporating additional business elements and contextual factors. The meta model has been applied successfully in real-world projects across multiple industries.
The document summarizes a presentation on using benchmarks to accelerate process improvement. The presentation discusses defining benchmarks and their benefits, providing examples of why cost and schedule data without quality metrics can be misleading. It emphasizes the need for meaningful size attributes and benchmark data to support process improvement. The presentation aims to provide insights into making measurements useful by focusing on the five C's of sizing measures.
The document discusses Sales & Operations Planning (S&OP), which is a process that integrates customer-focused marketing plans with supply chain management to develop tactical plans. It brings together all business plans into one set of integrated plans. The S&OP process aims to balance supply and demand and ensure strategic plans are realistic. It connects business planning to tactical planning and involves different departments. The document outlines challenges, needs, objectives, attributes, processes, and benefits of the S&OP process.
This document provides an overview of strategic management concepts across 6 units. It discusses key topics such as defining strategy, tests of a good strategy, the strategy making process, external analysis tools like PESTEL and Porter's 5 Forces, internal analysis including resources/capabilities and core competencies, growth strategies like integration and diversification, and international strategies. Assessment techniques like SWOT, value chain analysis, and portfolio maps are also summarized. The document aims to provide a brief content overview of examination material on strategic management.
Tools & techniques of strategic analysis reevaverma
The document discusses several tools and techniques for strategic analysis, including SWOT analysis, Porter's five forces analysis, and corporate portfolio analysis. SWOT analysis identifies internal strengths and weaknesses and external opportunities and threats. Corporate portfolio analysis evaluates segments of a company's product line. Porter's five forces analysis examines the competitive environment and attractiveness of an industry based on the bargaining power of buyers and suppliers, threat of new entrants, availability of substitutes, and rivalry among existing competitors.
What is Six Sigma? - Donald P. Lynch, Ph.D.Melissa Paige
Download our free white paper by ISD instructor and Six Sigma Master Black Belt Don Lynch that answers the question "What is Six Sigma?" in terms that everyone can understand.
"One of the reasons it has been so difficult for
those not working in an organization that has
embraced Six Sigma to really understand it
is because Six Sigma means multiple things.
The term Six Sigma is used interchangeably to
reflect a vision, philosophy, commitment, goal,
level of performance, statistical measurement,
metric, benchmark, methodology, systematic
approach, set of statistical tools, and a vehicle
for customer focus, breakthrough improvement
and people involvement. These different
definitions can be summarized in three main
categories; Six Sigma the philosophy, Six Sigma
the metric and Six Sigma the methodology."
Generating ideas is not the issue. Executing on them is. This whitepaper discusses how manufacturers can improve new product development through strategic portfolio management, program execution management, product development, and manufacturing planning and validation. It emphasizes integrating people and processes through capabilities like requirements management, project planning, resource management, and risk management to foster sustainable innovation. Leading companies use product lifecycle management solutions to coordinate development teams and ensure new products meet market needs.
Integrated Strategy and Business Architecture Meta ModelGraham McLeod
This document describes a comprehensive and integrated meta model developed by the author and colleagues at Inspired to support strategy, business architecture, and transformation. The meta model bridges strategic planning, enterprise architecture, and business analysis by drawing from various frameworks and integrating concepts. It addresses shortcomings in existing meta models by incorporating additional business elements and contextual factors. The meta model has been applied successfully in real-world projects across multiple industries.
The document summarizes a presentation on using benchmarks to accelerate process improvement. The presentation discusses defining benchmarks and their benefits, providing examples of why cost and schedule data without quality metrics can be misleading. It emphasizes the need for meaningful size attributes and benchmark data to support process improvement. The presentation aims to provide insights into making measurements useful by focusing on the five C's of sizing measures.
The document discusses Sales & Operations Planning (S&OP), which is a process that integrates customer-focused marketing plans with supply chain management to develop tactical plans. It brings together all business plans into one set of integrated plans. The S&OP process aims to balance supply and demand and ensure strategic plans are realistic. It connects business planning to tactical planning and involves different departments. The document outlines challenges, needs, objectives, attributes, processes, and benefits of the S&OP process.
This document provides an overview of strategic management concepts across 6 units. It discusses key topics such as defining strategy, tests of a good strategy, the strategy making process, external analysis tools like PESTEL and Porter's 5 Forces, internal analysis including resources/capabilities and core competencies, growth strategies like integration and diversification, and international strategies. Assessment techniques like SWOT, value chain analysis, and portfolio maps are also summarized. The document aims to provide a brief content overview of examination material on strategic management.
Tools & techniques of strategic analysis reevaverma
The document discusses several tools and techniques for strategic analysis, including SWOT analysis, Porter's five forces analysis, and corporate portfolio analysis. SWOT analysis identifies internal strengths and weaknesses and external opportunities and threats. Corporate portfolio analysis evaluates segments of a company's product line. Porter's five forces analysis examines the competitive environment and attractiveness of an industry based on the bargaining power of buyers and suppliers, threat of new entrants, availability of substitutes, and rivalry among existing competitors.
The document discusses emerging trends and issues in human resource practices. It covers new competencies required for HR professionals, using a balanced scorecard approach to align HR strategies with business goals, integrating six sigma methodologies to improve processes and reduce defects, fostering innovation through proactive HR practices, addressing challenges in business process outsourcing companies through training and performance management, and trends in competitive recruitment and hiring from other organizations.
The document outlines the strategic management process in 6 steps: conducting external and internal analysis, formulating strategies, implementing strategies, and evaluating results. It also discusses types of organizational strategies including corporate growth strategies like diversification. Business-level strategies aim to achieve competitive advantage through differentiation, cost leadership, or focus. Porter's five forces model analyzes industry competition.
Daniel Zitter: The Expectations of Project Managers from Artificial IntelligenceEdunomica
Daniel Zitter: The Expectations of Project Managers from Artificial Intelligence
People Analytics Conference
Website - https://pacamp.org/
Youtube - https://www.youtube.com/channel/UCeHtPZ_ZLZ-nHFMUCXY81RQ/featured
FB - https://www.facebook.com/pacamporg
The document discusses using a balanced scorecard and strategy map to drive corporate performance. It explains the four perspectives of a balanced scorecard - financial, customer, internal process, and learning and growth. Strategic objectives are identified for each perspective to help organizations achieve goals and track key performance indicators.
This document outlines a four-stage process for reviewing and designing compensation plans. Stage 1 involves scoping the project, including determining business needs and timelines. Stage 2 is designing the incentive plan elements. Stage 3 is obtaining necessary approvals from stakeholders like compensation committees. Stage 4 is communicating and implementing the new plan, including change management strategies. The process provides a framework to facilitate discussions between HR, business partners, and other stakeholders to develop strategic compensation plans that motivate desired employee behaviors and business results.
The document discusses several strategic issues related to technology and innovation management. It covers managing technology and innovation, strategic issues for non-profit organizations, and new business models and strategies for the internet economy. Specifically, it addresses the role of management in technology, best practices for improving R&D, definitions and constraints of non-profit organizations, popular non-profit strategies, strategic options for new business models, the definition of an internet economy, and the impacts of the internet and e-commerce.
''The Strategic Performance Index is a leader hip assessment measuring organizational success across key areas of growth, viability and sustainability''
This document discusses how pharmaceutical companies can improve the efficiency and effectiveness of their medical, legal, and regulatory (MLR) review process for promotional materials. It recommends that companies define key performance indicators (KPIs) to track the progress of materials through the review stages and identify bottlenecks. Analytics can be used to analyze historical review data and monitor KPIs over time to optimize the process, reduce review times, and ensure compliance.
This document discusses strategic audits and provides information about conducting one. It begins with definitions of strategy, strategic management, and audits. It then explains that a strategic audit assesses a company's current business strategy and execution to determine suitability and identify risks. The document outlines the steps in a strategic audit, including asking questions, evaluating current strategy, highlighting risks, and assessing resource needs. It also discusses when strategic audits should be used and provides dimensions and examples of companies that perform them. In conclusion, it states that a strategic audit is an in-depth review to determine if a company is meeting objectives efficiently and using resources fully.
Internal assignment no 2(MBA208)BY ANIL KUMARANIL KUMAR
The document discusses strategic management concepts. It begins by covering the two dimensions of the BCG matrix as market share and market growth. It then defines turnaround strategy, core competencies, and distinguishes between joint ventures and strategic alliances. Next, it explains SWOT analysis and Porter's four generic strategies of cost leadership, differentiation, cost focus, and differentiation focus. Finally, it discusses the importance of strategic management for organizations in setting goals, allocating resources, adapting to changes, and achieving long-term success.
A successful business requires both a well developed strategy and the ability to execute on that strategy. Strategy without execution is merely theory. Many companies develop robust strategies, but fail at operationalizing their strategies into implementable steps.
This slideshare covers frameworks that deal with both sides—Strategy Development and Strategy Execution. In this presentation, we will discuss 12 business frameworks. For each framework, we will provide an overview, explain its proper usage, and highlight the analyses involved.
This slideshare will also provide references to more detailed documentation, guides, and methodologies if you would like more information.
The following business frameworks will be discussed:
Consolidation-Endgame Curve
Porter’s Five Forces
BCG Growth-Share Matrix
Marketing Mix (4/7 P’s)
Blue Ocean Strategy
SWOT Analysis
PEST Analysis
Product Lifecycle
Consumer Adoption Curve
Balanced Scorecard
Organizational Hurdles
Hoshin Kanri
Each framework is geared towards a specific type of analysis—pick and choose the best frameworks to use for your particular business problem.
The document discusses several papers related to business models and strategy. It argues that a business model is an abstraction of a firm's strategy, depicting how it creates and captures value. Strategy determines the business model options available and business models guide tactical decisions. Later papers integrate these concepts, stating that strategy determines the business model, which then defines available tactics. Together, strategy, business models, and tactics allow firms to achieve their goals but business models must also be difficult to imitate to provide competitive advantage.
The document proposes a new 6 perspective model for balanced scorecards that adds social/environmental, risk
management, and employee perspectives. It reviews literature on traditional BSC models and their limitations. The
proposed new model aims to address these limitations by providing a more holistic framework that integrates additional
key areas of corporate strategy and performance.
This document provides an introduction to strategic management concepts from Dr. Prashant Kalaskar. It defines key terms like strategy, planning, tactics, and differences between planning and strategy. It discusses the strategic management process including analyzing the internal and external environment, formulating strategies, implementing strategies, and evaluating strategies. The importance of strategic management for organizational success and survival is also highlighted. Stakeholders in business are defined as individuals or groups affected by organizational strategies and outcomes.
1) Nucor Corporation keeps its strategy evaluation and control process simple, focusing on bottom line performance, long-term survival, and rewarding employees for producing more products at lower costs.
2) Strategy evaluation and control involves measuring actual performance against established standards, and taking corrective actions if deviations occur outside tolerance ranges.
3) A balanced scorecard approach evaluates strategy from financial, customer, internal business process, and innovation/learning perspectives.
Organizational determinants as a barrier of balanced scorecard adoption for p...Alexander Decker
This document discusses organizational barriers to adopting the Balanced Scorecard (BSC) as a performance measurement tool in Pakistan. It provides background on the BSC, describing it as a popular multi-dimensional performance measurement system that derives key performance indicators from strategy. The study aims to identify barriers within organizations that may prevent BSC adoption. A literature review covers performance measurement, BSC features and adoption. However, little research has examined resistance to adopting innovations like the BSC. The document aims to identify potential organizational determinants that could serve as barriers to BSC adoption in Pakistan.
This slide is able to explain main concept of strategic management. And this is also suitable to student as well as others business people to know about some strategies.
This document provides an overview of strategic management concepts from Chapter 9 of an introduction to management textbook. It discusses strategic management as comprising strategic analysis, formulation, and implementation to accomplish long-term goals. Key points covered include the levels of strategy (corporate, business, functional), Porter's five forces model, the BCG matrix for portfolio analysis, corporate strategies like growth and retrenchment, and Porter's framework for business strategies.
The document discusses the key components and process of strategic management. It covers 4 main topics: 1) business/service strategy and sustainable competitive advantage, 2) strategic business units, 3) strategic management development, characteristics and trends, and 4) the components and process of strategic management. The document provides details on each component of corporate strategy, objectives and characteristics, development strategy, resource allocation, and sources of synergy. It also outlines the strategic management process, including external and internal analysis, strategy identification and selection, and planning, implementation and control.
STRATEGIC MANAGEMENT Evaluation & Control Editedanto101211
The document provides information about strategic management evaluation and control processes. It discusses measuring performance, comparing results to standards, identifying deviations, and taking corrective actions. Key aspects include setting measurable goals, benchmarking against best-in-class competitors, and using tools like the balanced scorecard to evaluate performance from multiple perspectives. Regular monitoring and analysis of variances is important to ensure the organization achieves its objectives.
International Journal of Engineering Research and Applications (IJERA) is an open access online peer reviewed international journal that publishes research and review articles in the fields of Computer Science, Neural Networks, Electrical Engineering, Software Engineering, Information Technology, Mechanical Engineering, Chemical Engineering, Plastic Engineering, Food Technology, Textile Engineering, Nano Technology & science, Power Electronics, Electronics & Communication Engineering, Computational mathematics, Image processing, Civil Engineering, Structural Engineering, Environmental Engineering, VLSI Testing & Low Power VLSI Design etc.
The document discusses emerging trends and issues in human resource practices. It covers new competencies required for HR professionals, using a balanced scorecard approach to align HR strategies with business goals, integrating six sigma methodologies to improve processes and reduce defects, fostering innovation through proactive HR practices, addressing challenges in business process outsourcing companies through training and performance management, and trends in competitive recruitment and hiring from other organizations.
The document outlines the strategic management process in 6 steps: conducting external and internal analysis, formulating strategies, implementing strategies, and evaluating results. It also discusses types of organizational strategies including corporate growth strategies like diversification. Business-level strategies aim to achieve competitive advantage through differentiation, cost leadership, or focus. Porter's five forces model analyzes industry competition.
Daniel Zitter: The Expectations of Project Managers from Artificial IntelligenceEdunomica
Daniel Zitter: The Expectations of Project Managers from Artificial Intelligence
People Analytics Conference
Website - https://pacamp.org/
Youtube - https://www.youtube.com/channel/UCeHtPZ_ZLZ-nHFMUCXY81RQ/featured
FB - https://www.facebook.com/pacamporg
The document discusses using a balanced scorecard and strategy map to drive corporate performance. It explains the four perspectives of a balanced scorecard - financial, customer, internal process, and learning and growth. Strategic objectives are identified for each perspective to help organizations achieve goals and track key performance indicators.
This document outlines a four-stage process for reviewing and designing compensation plans. Stage 1 involves scoping the project, including determining business needs and timelines. Stage 2 is designing the incentive plan elements. Stage 3 is obtaining necessary approvals from stakeholders like compensation committees. Stage 4 is communicating and implementing the new plan, including change management strategies. The process provides a framework to facilitate discussions between HR, business partners, and other stakeholders to develop strategic compensation plans that motivate desired employee behaviors and business results.
The document discusses several strategic issues related to technology and innovation management. It covers managing technology and innovation, strategic issues for non-profit organizations, and new business models and strategies for the internet economy. Specifically, it addresses the role of management in technology, best practices for improving R&D, definitions and constraints of non-profit organizations, popular non-profit strategies, strategic options for new business models, the definition of an internet economy, and the impacts of the internet and e-commerce.
''The Strategic Performance Index is a leader hip assessment measuring organizational success across key areas of growth, viability and sustainability''
This document discusses how pharmaceutical companies can improve the efficiency and effectiveness of their medical, legal, and regulatory (MLR) review process for promotional materials. It recommends that companies define key performance indicators (KPIs) to track the progress of materials through the review stages and identify bottlenecks. Analytics can be used to analyze historical review data and monitor KPIs over time to optimize the process, reduce review times, and ensure compliance.
This document discusses strategic audits and provides information about conducting one. It begins with definitions of strategy, strategic management, and audits. It then explains that a strategic audit assesses a company's current business strategy and execution to determine suitability and identify risks. The document outlines the steps in a strategic audit, including asking questions, evaluating current strategy, highlighting risks, and assessing resource needs. It also discusses when strategic audits should be used and provides dimensions and examples of companies that perform them. In conclusion, it states that a strategic audit is an in-depth review to determine if a company is meeting objectives efficiently and using resources fully.
Internal assignment no 2(MBA208)BY ANIL KUMARANIL KUMAR
The document discusses strategic management concepts. It begins by covering the two dimensions of the BCG matrix as market share and market growth. It then defines turnaround strategy, core competencies, and distinguishes between joint ventures and strategic alliances. Next, it explains SWOT analysis and Porter's four generic strategies of cost leadership, differentiation, cost focus, and differentiation focus. Finally, it discusses the importance of strategic management for organizations in setting goals, allocating resources, adapting to changes, and achieving long-term success.
A successful business requires both a well developed strategy and the ability to execute on that strategy. Strategy without execution is merely theory. Many companies develop robust strategies, but fail at operationalizing their strategies into implementable steps.
This slideshare covers frameworks that deal with both sides—Strategy Development and Strategy Execution. In this presentation, we will discuss 12 business frameworks. For each framework, we will provide an overview, explain its proper usage, and highlight the analyses involved.
This slideshare will also provide references to more detailed documentation, guides, and methodologies if you would like more information.
The following business frameworks will be discussed:
Consolidation-Endgame Curve
Porter’s Five Forces
BCG Growth-Share Matrix
Marketing Mix (4/7 P’s)
Blue Ocean Strategy
SWOT Analysis
PEST Analysis
Product Lifecycle
Consumer Adoption Curve
Balanced Scorecard
Organizational Hurdles
Hoshin Kanri
Each framework is geared towards a specific type of analysis—pick and choose the best frameworks to use for your particular business problem.
The document discusses several papers related to business models and strategy. It argues that a business model is an abstraction of a firm's strategy, depicting how it creates and captures value. Strategy determines the business model options available and business models guide tactical decisions. Later papers integrate these concepts, stating that strategy determines the business model, which then defines available tactics. Together, strategy, business models, and tactics allow firms to achieve their goals but business models must also be difficult to imitate to provide competitive advantage.
The document proposes a new 6 perspective model for balanced scorecards that adds social/environmental, risk
management, and employee perspectives. It reviews literature on traditional BSC models and their limitations. The
proposed new model aims to address these limitations by providing a more holistic framework that integrates additional
key areas of corporate strategy and performance.
This document provides an introduction to strategic management concepts from Dr. Prashant Kalaskar. It defines key terms like strategy, planning, tactics, and differences between planning and strategy. It discusses the strategic management process including analyzing the internal and external environment, formulating strategies, implementing strategies, and evaluating strategies. The importance of strategic management for organizational success and survival is also highlighted. Stakeholders in business are defined as individuals or groups affected by organizational strategies and outcomes.
1) Nucor Corporation keeps its strategy evaluation and control process simple, focusing on bottom line performance, long-term survival, and rewarding employees for producing more products at lower costs.
2) Strategy evaluation and control involves measuring actual performance against established standards, and taking corrective actions if deviations occur outside tolerance ranges.
3) A balanced scorecard approach evaluates strategy from financial, customer, internal business process, and innovation/learning perspectives.
Organizational determinants as a barrier of balanced scorecard adoption for p...Alexander Decker
This document discusses organizational barriers to adopting the Balanced Scorecard (BSC) as a performance measurement tool in Pakistan. It provides background on the BSC, describing it as a popular multi-dimensional performance measurement system that derives key performance indicators from strategy. The study aims to identify barriers within organizations that may prevent BSC adoption. A literature review covers performance measurement, BSC features and adoption. However, little research has examined resistance to adopting innovations like the BSC. The document aims to identify potential organizational determinants that could serve as barriers to BSC adoption in Pakistan.
This slide is able to explain main concept of strategic management. And this is also suitable to student as well as others business people to know about some strategies.
This document provides an overview of strategic management concepts from Chapter 9 of an introduction to management textbook. It discusses strategic management as comprising strategic analysis, formulation, and implementation to accomplish long-term goals. Key points covered include the levels of strategy (corporate, business, functional), Porter's five forces model, the BCG matrix for portfolio analysis, corporate strategies like growth and retrenchment, and Porter's framework for business strategies.
The document discusses the key components and process of strategic management. It covers 4 main topics: 1) business/service strategy and sustainable competitive advantage, 2) strategic business units, 3) strategic management development, characteristics and trends, and 4) the components and process of strategic management. The document provides details on each component of corporate strategy, objectives and characteristics, development strategy, resource allocation, and sources of synergy. It also outlines the strategic management process, including external and internal analysis, strategy identification and selection, and planning, implementation and control.
STRATEGIC MANAGEMENT Evaluation & Control Editedanto101211
The document provides information about strategic management evaluation and control processes. It discusses measuring performance, comparing results to standards, identifying deviations, and taking corrective actions. Key aspects include setting measurable goals, benchmarking against best-in-class competitors, and using tools like the balanced scorecard to evaluate performance from multiple perspectives. Regular monitoring and analysis of variances is important to ensure the organization achieves its objectives.
International Journal of Engineering Research and Applications (IJERA) is an open access online peer reviewed international journal that publishes research and review articles in the fields of Computer Science, Neural Networks, Electrical Engineering, Software Engineering, Information Technology, Mechanical Engineering, Chemical Engineering, Plastic Engineering, Food Technology, Textile Engineering, Nano Technology & science, Power Electronics, Electronics & Communication Engineering, Computational mathematics, Image processing, Civil Engineering, Structural Engineering, Environmental Engineering, VLSI Testing & Low Power VLSI Design etc.
FMEA (Failure Mode and Effects Analysis) is a systematic process for evaluating potential problems and failures within a design, manufacturing or production process. It helps identify the effects of risks and introduce control measures to eliminate them. FMEA was first developed in the aerospace industry in the 1960s and has since been applied in various industries for risk management. It involves identifying potential failure modes in a system, assessing their severity, occurrence and detection, and determining how to reduce risk. FMEA supports continuous quality improvement efforts.
This document discusses the application of Six Sigma methodology within the finance department of a major U.S. defense contractor. Specifically, it describes a case study of a Continuing Account Reconciliation Enhancement project undertaken by the finance department to streamline and standardize financial reporting processes. The Six Sigma implementation resulted in significantly reduced average cycle time and cost per unit of activity needed to produce required financial reports.
This document presents a case study on applying Six Sigma methodology to streamline the financial reporting process within the finance department of a major defense contractor. The goal of the project, called Continuing Account Reconciliation Enhancement (CARE), was to standardize and document the process for establishing and maintaining costing and planning within the current financial management system. Applying Six Sigma's DMAIC framework, the team mapped the existing process, identified inefficiencies, standardized procedures, and achieved significant reductions in cycle time and cost per report produced. The results showed Six Sigma can successfully be applied beyond manufacturing to optimize business processes in other functions like finance.
The advancement & effect of six sigma approach in a modernIAEME Publication
This document summarizes research on the advancement and effects of Six Sigma approaches in modern industries. It finds that Six Sigma has been successfully applied in manufacturing industries to improve processes using DMAIC methodology. Some large corporations have integrated Six Sigma so well into their culture that it has become the foundation of the company. The document also examines key factors for successful Six Sigma implementation, such as management commitment, understanding of Six Sigma tools and techniques, linking Six Sigma to business strategy and customers, project selection and tracking, organizational infrastructure, and cultural change. Overall, the research finds that Six Sigma activities can contribute to process management refreshment, quality improvement, and increased corporate competitiveness.
‘Six Sigma Technique’ A Journey Through its Implementationijtsrd
The manufacturing industries all over the world are facing tough challenges for growth, development and sustainability in today’s competitive environment. They have to achieve apex position by adapting with the global competitive environment by delivering goods and services at low cost, prime quality and better price to increase wealth and consumer satisfaction. Cost Management ensures profit, growth and sustainability of the business with implementation of Continuous Improvement Technique like Six Sigma. This leads to optimize Business performance. The method drives for customer satisfaction, low variation, reduction in waste and cycle time resulting into a competitive advantage over other industries which did not implement it. The main objective of this paper ‘Six Sigma Technique A Journey Through Its Implementation’ is to conceptualize the effectiveness of Six Sigma Technique through the journey of its implementation. Aditi Sunilkumar Ghosalkar "‘Six Sigma Technique’: A Journey Through its Implementation" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd64546.pdf Paper Url: https://www.ijtsrd.com/other-scientific-research-area/other/64546/‘six-sigma-technique’-a-journey-through-its-implementation/aditi-sunilkumar-ghosalkar
IRJET- Quality Audit of Public Building Project by using Six Sigma TechniquesIRJET Journal
This document discusses using Six Sigma techniques to improve the quality of public building projects. It begins with an abstract that introduces Six Sigma as a data-driven approach to reducing defects. The document then provides background on Six Sigma, including its DMAIC methodology of Define, Measure, Analyze, Improve, Control. It discusses applying Six Sigma principles like DMAIC to a case study of a public sector construction project to improve quality and meet standards. The document also reviews literature on applying Six Sigma in construction and defines key aspects of Six Sigma, such as its metrics and belt system. Overall, the document examines how Six Sigma techniques can help construction projects reduce defects and variability to enhance quality.
The Success And Failure Of Implementing Six SigmaAngie Lee
The document discusses the history and role of Six Sigma and Lean in manufacturing. It explains that Six Sigma originated from efforts in the 1980s at Motorola to reduce defects in manufacturing processes. The concept aims to reduce variation and improve quality. Lean manufacturing also focuses on eliminating waste to improve efficiency. Together, Six Sigma and Lean aim to standardize processes, identify and remove sources of defects, and continuously improve manufacturing quality and efficiency. The document provides background on the individuals and theories that influenced the development of these process improvement methods.
International Journal of Engineering Research and Development (IJERD)IJERD Editor
This document provides a review of Six Sigma, which is a statistical process used to improve quality in manufacturing. It discusses Six Sigma as both a metric and methodology. The document outlines the origins and development of Six Sigma since it was created by Motorola in 1981. It describes the DMAIC and DFSS phases used in Six Sigma. It also discusses key factors for successful Six Sigma implementation, such as management commitment, understanding the methodology, linking it to business strategy, training, and cultural change. The conclusion states that Six Sigma helps assure quality and satisfy customers by aiming to reduce defects per million opportunities to 3.4 or less.
Six Sigma is a data-driven methodology for improving business processes and reducing defects. It uses a five-phase approach called DMAIC (Define, Measure, Analyze, Improve, Control) to systematically identify and eliminate defects. Six Sigma aims to achieve 3.4 defects per million opportunities to guarantee complete customer satisfaction. It requires commitment from top management and training employees in Six Sigma techniques to achieve its quality goals.
Six Sigma Methodologies and its Application in Manufacturing FirmsDr. Amarjeet Singh
Six Sigma is a methodology for process improvement as well as a statistical concept that looks for to determine the variation intrinsic in any process. Six Sigma represents process, that is having 3.4 defects per million opportunities. i.e. 99.99966 % of the products from a Six Sigma process are perfect. Firms can impact their sigma level by combining main principles from the Six Sigma methodology into leadership styles, process management, and improvement activities. Main principle of the technique is a focus on the customer. There are many challenges in the implementation of Six Sigma. A well-run manufacturing team can make the entire firm more successful through cost-saving measures, increased quality and a larger inventory of products that the company can market. The Six Sigma objective is to make sure the process has minimum defects(3.4 defects per million chances). Every aspect of the process must be carefully planned and documented in detail in order for manufacturing to go efficiently. The main aspect of Six Sigma for enhancement in the manufacturing industry is to maximize the financial returns.
This document provides an overview of Six Sigma, a quality improvement program. It defines Six Sigma as a statistical measure that aims for 3.4 defects per million opportunities. The document outlines the DMAIC methodology used in Six Sigma, which stands for Define, Measure, Analyze, Improve, and Control. It is used to improve existing business processes. The DMADV methodology is also introduced, which is used for new product or process design. In conclusion, Six Sigma is a data-driven approach that systematically works to reduce defects and variability, improving quality and profitability through removing the causes of defects in processes.
1) Six Sigma is a data-driven methodology originally developed by Motorola in 1986 to improve business processes and minimize defects. It aims for nearly flawless process performance.
2) The methodology uses statistical methods and creates special infrastructure to identify and remove causes of defects. Projects follow the DMAIC or DMADV process to either improve existing processes or design new ones.
3) Six Sigma has been adopted by many organizations and evolved over time to not just be about reducing defects but also achieving high customer satisfaction through stable and consistent business processes. It is now a popular management system and industry.
Six Sigma is a process improvement methodology that seeks to reduce defects and variability in manufacturing and business processes. It was originally developed by Motorola in 1986 and was later adopted by other companies like General Electric. The textile industry is well-suited for Six Sigma given the variability in its processes. Key aspects of Six Sigma include defining, measuring, analyzing, improving, and controlling quality to reduce defects. It utilizes statistical tools and creates roles like Champions, Black Belts, Green Belts to lead projects. The document outlines potential areas for Six Sigma application in the textile industry and how it has been used successfully by companies like DuPont to improve productivity and quality.
Introduction to lean six sigma 2 day seminarMarysmith401
MSys Training helps professionals to develop required skills to succeed in today’s digital world. In this digital world, where trends and technologies are changing every day and the demand for certified candidates increased significantly; we offer various online certification training courses for professionals. We partner with individuals, teams, and companies to understand their needs and provide customized training and coaching that helps them to achieve their career objectives
IRJET- Application of Lean Six Sigma PrinciplesIRJET Journal
This document summarizes the application of Lean Six Sigma principles to improve the dip-spin anti-rust coating process at Aum Dacro Pvt. Ltd. The author conducted the project using the DMAIC (Define, Measure, Analyze, Improve, Control) approach. In the Define phase, the problem and objectives were defined. In the Measure phase, comprehensive process data was collected. In the Analyze phase, possible causes for defects were identified using a cause-and-effect diagram and the most significant causes were analyzed. In the Improve phase, solutions to address the key causes were developed. The Control phase of ongoing monitoring was outside the scope of this project. Design-Expert statistical software was used
Journey from Six Sigma to Lean Six Sigma: A Literature ReviewIJMER
This paper reviews the published literature related to six –sigma and lean six-sigma. The paper shows that how the methodology changes with changing trend and competition. Nowadays, the pressure of competition from multi-national companies had increased and among them is the automotive industry. It is the impact when the level of competition is intensifying as the manufactured vehicles shifts from being national to global. As a part of competition, the important of understanding the implementation of LSS concept is really useful to be a good competitor. The review gives why the industries fail to implement as well how they can overcome it.
Similar to Six sigma some marketing essentials 2 (20)
Submission Deadline: 30th September 2022
Acceptance Notification: Within Three Days’ time period
Online Publication: Within 24 Hrs. time Period
Expected Date of Dispatch of Printed Journal: 5th October 2022
MODELING AND ANALYSIS OF SURFACE ROUGHNESS AND WHITE LATER THICKNESS IN WIRE-...IAEME Publication
White layer thickness (WLT) formed and surface roughness in wire electric discharge turning (WEDT) of tungsten carbide composite has been made to model through response surface methodology (RSM). A Taguchi’s standard Design of experiments involving five input variables with three levels has been employed to establish a mathematical model between input parameters and responses. Percentage of cobalt content, spindle speed, Pulse on-time, wire feed and pulse off-time were changed during the experimental tests based on the Taguchi’s orthogonal array L27 (3^13). Analysis of variance (ANOVA) revealed that the mathematical models obtained can adequately describe performance within the parameters of the factors considered. There was a good agreement between the experimental and predicted values in this study.
A STUDY ON THE REASONS FOR TRANSGENDER TO BECOME ENTREPRENEURSIAEME Publication
The study explores the reasons for a transgender to become entrepreneurs. In this study transgender entrepreneur was taken as independent variable and reasons to become as dependent variable. Data were collected through a structured questionnaire containing a five point Likert Scale. The study examined the data of 30 transgender entrepreneurs in Salem Municipal Corporation of Tamil Nadu State, India. Simple Random sampling technique was used. Garrett Ranking Technique (Percentile Position, Mean Scores) was used as the analysis for the present study to identify the top 13 stimulus factors for establishment of trans entrepreneurial venture. Economic advancement of a nation is governed upon the upshot of a resolute entrepreneurial doings. The conception of entrepreneurship has stretched and materialized to the socially deflated uncharted sections of transgender community. Presently transgenders have smashed their stereotypes and are making recent headlines of achievements in various fields of our Indian society. The trans-community is gradually being observed in a new light and has been trying to achieve prospective growth in entrepreneurship. The findings of the research revealed that the optimistic changes are taking place to change affirmative societal outlook of the transgender for entrepreneurial ventureship. It also laid emphasis on other transgenders to renovate their traditional living. The paper also highlights that legislators, supervisory body should endorse an impartial canons and reforms in Tamil Nadu Transgender Welfare Board Association.
BROAD UNEXPOSED SKILLS OF TRANSGENDER ENTREPRENEURSIAEME Publication
Since ages gender difference is always a debatable theme whether caused by nature, evolution or environment. The birth of a transgender is dreadful not only for the child but also for their parents. The pain of living in the wrong physique and treated as second class victimized citizen is outrageous and fully harboured with vicious baseless negative scruples. For so long, social exclusion had perpetuated inequality and deprivation experiencing ingrained malign stigma and besieged victims of crime or violence across their life spans. They are pushed into the murky way of life with a source of eternal disgust, bereft sexual potency and perennial fear. Although they are highly visible but very little is known about them. The common public needs to comprehend the ravaged arrogance on these insensitive souls and assist in integrating them into the mainstream by offering equal opportunity, treat with humanity and respect their dignity. Entrepreneurship in the current age is endorsing the gender fairness movement. Unstable careers and economic inadequacy had inclined one of the gender variant people called Transgender to become entrepreneurs. These tiny budding entrepreneurs resulted in economic transition by means of employment, free from the clutches of stereotype jobs, raised standard of living and handful of financial empowerment. Besides all these inhibitions, they were able to witness a platform for skill set development that ignited them to enter into entrepreneurial domain. This paper epitomizes skill sets involved in trans-entrepreneurs of Thoothukudi Municipal Corporation of Tamil Nadu State and is a groundbreaking determination to sightsee various skills incorporated and the impact on entrepreneurship.
DETERMINANTS AFFECTING THE USER'S INTENTION TO USE MOBILE BANKING APPLICATIONSIAEME Publication
The banking and financial services industries are experiencing increased technology penetration. Among them, the banking industry has made technological advancements to better serve the general populace. The economy focused on transforming the banking sector's system into a cashless, paperless, and faceless one. The researcher wants to evaluate the user's intention for utilising a mobile banking application. The study also examines the variables affecting the user's behaviour intention when selecting specific applications for financial transactions. The researcher employed a well-structured questionnaire and a descriptive study methodology to gather the respondents' primary data utilising the snowball sampling technique. The study includes variables like performance expectations, effort expectations, social impact, enabling circumstances, and perceived risk. Each of the aforementioned variables has a major impact on how users utilise mobile banking applications. The outcome will assist the service provider in comprehending the user's history with mobile banking applications.
ANALYSE THE USER PREDILECTION ON GPAY AND PHONEPE FOR DIGITAL TRANSACTIONSIAEME Publication
Technology upgradation in banking sector took the economy to view that payment mode towards online transactions using mobile applications. This system enabled connectivity between banks, Merchant and user in a convenient mode. there are various applications used for online transactions such as Google pay, Paytm, freecharge, mobikiwi, oxygen, phonepe and so on and it also includes mobile banking applications. The study aimed at evaluating the predilection of the user in adopting digital transaction. The study is descriptive in nature. The researcher used random sample techniques to collect the data. The findings reveal that mobile applications differ with the quality of service rendered by Gpay and Phonepe. The researcher suggest the Phonepe application should focus on implementing the application should be user friendly interface and Gpay on motivating the users to feel the importance of request for money and modes of payments in the application.
VOICE BASED ATM FOR VISUALLY IMPAIRED USING ARDUINOIAEME Publication
The prototype of a voice-based ATM for visually impaired using Arduino is to help people who are blind. This uses RFID cards which contain users fingerprint encrypted on it and interacts with the users through voice commands. ATM operates when sensor detects the presence of one person in the cabin. After scanning the RFID card, it will ask to select the mode like –normal or blind. User can select the respective mode through voice input, if blind mode is selected the balance check or cash withdraw can be done through voice input. Normal mode procedure is same as the existing ATM.
IMPACT OF EMOTIONAL INTELLIGENCE ON HUMAN RESOURCE MANAGEMENT PRACTICES AMONG...IAEME Publication
There is increasing acceptability of emotional intelligence as a major factor in personality assessment and effective human resource management. Emotional intelligence as the ability to build capacity, empathize, co-operate, motivate and develop others cannot be divorced from both effective performance and human resource management systems. The human person is crucial in defining organizational leadership and fortunes in terms of challenges and opportunities and walking across both multinational and bilateral relationships. The growing complexity of the business world requires a great deal of self-confidence, integrity, communication, conflict and diversity management to keep the global enterprise within the paths of productivity and sustainability. Using the exploratory research design and 255 participants the result of this original study indicates strong positive correlation between emotional intelligence and effective human resource management. The paper offers suggestions on further studies between emotional intelligence and human capital development and recommends for conflict management as an integral part of effective human resource management.
VISUALISING AGING PARENTS & THEIR CLOSE CARERS LIFE JOURNEY IN AGING ECONOMYIAEME Publication
Our life journey, in general, is closely defined by the way we understand the meaning of why we coexist and deal with its challenges. As we develop the "inspiration economy", we could say that nearly all of the challenges we have faced are opportunities that help us to discover the rest of our journey. In this note paper, we explore how being faced with the opportunity of being a close carer for an aging parent with dementia brought intangible discoveries that changed our insight of the meaning of the rest of our life journey.
A STUDY ON THE IMPACT OF ORGANIZATIONAL CULTURE ON THE EFFECTIVENESS OF PERFO...IAEME Publication
The main objective of this study is to analyze the impact of aspects of Organizational Culture on the Effectiveness of the Performance Management System (PMS) in the Health Care Organization at Thanjavur. Organizational Culture and PMS play a crucial role in present-day organizations in achieving their objectives. PMS needs employees’ cooperation to achieve its intended objectives. Employees' cooperation depends upon the organization’s culture. The present study uses exploratory research to examine the relationship between the Organization's culture and the Effectiveness of the Performance Management System. The study uses a Structured Questionnaire to collect the primary data. For this study, Thirty-six non-clinical employees were selected from twelve randomly selected Health Care organizations at Thanjavur. Thirty-two fully completed questionnaires were received.
Living in 21st century in itself reminds all of us the necessity of police and its administration. As more and more we are entering into the modern society and culture, the more we require the services of the so called ‘Khaki Worthy’ men i.e., the police personnel. Whether we talk of Indian police or the other nation’s police, they all have the same recognition as they have in India. But as already mentioned, their services and requirements are different after the like 26th November, 2008 incidents, where they without saving their own lives has sacrificed themselves without any hitch and without caring about their respective family members and wards. In other words, they are like our heroes and mentors who can guide us from the darkness of fear, militancy, corruption and other dark sides of life and so on. Now the question arises, if Gandhi would have been alive today, what would have been his reaction/opinion to the police and its functioning? Would he have some thing different in his mind now what he had been in his mind before the partition or would he be going to start some Satyagraha in the form of some improvement in the functioning of the police administration? Really these questions or rather night mares can come to any one’s mind, when there is too much confusion is prevailing in our minds, when there is too much corruption in the society and when the polices working is also in the questioning because of one or the other case throughout the India. It is matter of great concern that we have to thing over our administration and our practical approach because the police personals are also like us, they are part and parcel of our society and among one of us, so why we all are pin pointing towards them.
A STUDY ON TALENT MANAGEMENT AND ITS IMPACT ON EMPLOYEE RETENTION IN SELECTED...IAEME Publication
The goal of this study was to see how talent management affected employee retention in the selected IT organizations in Chennai. The fundamental issue was the difficulty to attract, hire, and retain talented personnel who perform well and the gap between supply and demand of talent acquisition and retaining them within the firms. The study's main goals were to determine the impact of talent management on employee retention in IT companies in Chennai, investigate talent management strategies that IT companies could use to improve talent acquisition, performance management, career planning and formulate retention strategies that the IT firms could use. The respondents were given a structured close-ended questionnaire with the 5 Point Likert Scale as part of the study's quantitative research design. The target population consisted of 289 IT professionals. The questionnaires were distributed and collected by the researcher directly. The Statistical Package for Social Sciences (SPSS) was used to collect and analyse the questionnaire responses. Hypotheses that were formulated for the various areas of the study were tested using a variety of statistical tests. The key findings of the study suggested that talent management had an impact on employee retention. The studies also found that there is a clear link between the implementation of talent management and retention measures. Management should provide enough training and development for employees, clarify job responsibilities, provide adequate remuneration packages, and recognise employees for exceptional performance.
ATTRITION IN THE IT INDUSTRY DURING COVID-19 PANDEMIC: LINKING EMOTIONAL INTE...IAEME Publication
Globally, Millions of dollars were spent by the organizations for employing skilled Information Technology (IT) professionals. It is costly to replace unskilled employees with IT professionals possessing technical skills and competencies that aid in interconnecting the business processes. The organization’s employment tactics were forced to alter by globalization along with technological innovations as they consistently diminish to remain lean, outsource to concentrate on core competencies along with restructuring/reallocate personnel to gather efficiency. As other jobs, organizations or professions have become reasonably more appropriate in a shifting employment landscape, the above alterations trigger both involuntary as well as voluntary turnover. The employee view on jobs is also afflicted by the COVID-19 pandemic along with the employee-driven labour market. So, having effective strategies is necessary to tackle the withdrawal rate of employees. By associating Emotional Intelligence (EI) along with Talent Management (TM) in the IT industry, the rise in attrition rate was analyzed in this study. Only 303 respondents were collected out of 350 participants to whom questionnaires were distributed. From the employees of IT organizations located in Bangalore (India), the data were congregated. A simple random sampling methodology was employed to congregate data as of the respondents. Generating the hypothesis along with testing is eventuated. The effect of EI and TM along with regression analysis between TM and EI was analyzed. The outcomes indicated that employee and Organizational Performance (OP) were elevated by effective EI along with TM.
INFLUENCE OF TALENT MANAGEMENT PRACTICES ON ORGANIZATIONAL PERFORMANCE A STUD...IAEME Publication
By implementing talent management strategy, organizations would have the option to retain their skilled professionals while additionally working on their overall performance. It is the course of appropriately utilizing the ideal individuals, setting them up for future top positions, exploring and dealing with their performance, and holding them back from leaving the organization. It is employee performance that determines the success of every organization. The firm quickly obtains an upper hand over its rivals in the event that its employees having particular skills that cannot be duplicated by the competitors. Thus, firms are centred on creating successful talent management practices and processes to deal with the unique human resources. Firms are additionally endeavouring to keep their top/key staff since on the off chance that they leave; the whole store of information leaves the firm's hands. The study's objective was to determine the impact of talent management on organizational performance among the selected IT organizations in Chennai. The study recommends that talent management limitedly affects performance. On the off chance that this talent is appropriately management and implemented properly, organizations might benefit as much as possible from their maintained assets to support development and productivity, both monetarily and non-monetarily.
A STUDY OF VARIOUS TYPES OF LOANS OF SELECTED PUBLIC AND PRIVATE SECTOR BANKS...IAEME Publication
Banking regulations act of India, 1949 defines banking as “acceptance of deposits for the purpose of lending or investment from the public, repayment on demand or otherwise and withdrawable through cheques, drafts order or otherwise”, the major participants of the Indian financial system are commercial banks, the financial institution encompassing term lending institutions. Investments institutions, specialized financial institution and the state level development banks, non banking financial companies (NBFC) and other market intermediaries such has the stock brokers and money lenders are among the oldest of the certain variants of NBFC and the oldest market participants. The asset quality of banks is one of the most important indicators of their financial health. The Indian banking sector has been facing severe problems of increasing Non- Performing Assets (NPAs). The NPAs growth directly and indirectly affects the quality of assets and profitability of banks. It also shows the efficiency of banks credit risk management and the recovery effectiveness. NPA do not generate any income, whereas, the bank is required to make provisions for such as assets that why is a double edge weapon. This paper outlines the concept of quality of bank loans of different types like Housing, Agriculture and MSME loans in state Haryana of selected public and private sector banks. This study is highlighting problems associated with the role of commercial bank in financing Small and Medium Scale Enterprises (SME). The overall objective of the research was to assess the effect of the financing provisions existing for the setting up and operations of MSMEs in the country and to generate recommendations for more robust financing mechanisms for successful operation of the MSMEs, in turn understanding the impact of MSME loans on financial institutions due to NPA. There are many research conducted on the topic of Non- Performing Assets (NPA) Management, concerning particular bank, comparative study of public and private banks etc. In this paper the researcher is considering the aggregate data of selected public sector and private sector banks and attempts to compare the NPA of Housing, Agriculture and MSME loans in state Haryana of public and private sector banks. The tools used in the study are average and Anova test and variance. The findings reveal that NPA is common problem for both public and private sector banks and is associated with all types of loans either that is housing loans, agriculture loans and loans to SMES. NPAs of both public and private sector banks show the increasing trend. In 2010-11 GNPA of public and private sector were at same level it was 2% but after 2010-11 it increased in many fold and at present there is GNPA in some more than 15%. It shows the dark area of Indian banking sector.
EXPERIMENTAL STUDY OF MECHANICAL AND TRIBOLOGICAL RELATION OF NYLON/BaSO4 POL...IAEME Publication
An experiment conducted in this study found that BaSO4 changed Nylon 6's mechanical properties. By changing the weight ratios, BaSO4 was used to make Nylon 6. This Researcher looked into how hard Nylon-6/BaSO4 composites are and how well they wear. Experiments were done based on Taguchi design L9. Nylon-6/BaSO4 composites can be tested for their hardness number using a Rockwell hardness testing apparatus. On Nylon/BaSO4, the wear behavior was measured by a wear monitor, pinon-disc friction by varying reinforcement, sliding speed, and sliding distance, and the microstructure of the crack surfaces was observed by SEM. This study provides significant contributions to ultimate strength by increasing BaSO4 content up to 16% in the composites, and sliding speed contributes 72.45% to the wear rate
ROLE OF SOCIAL ENTREPRENEURSHIP IN RURAL DEVELOPMENT OF INDIA - PROBLEMS AND ...IAEME Publication
The majority of the population in India lives in villages. The village is the back bone of the country. Village or rural industries play an important role in the national economy, particularly in the rural development. Developing the rural economy is one of the key indicators towards a country’s success. Whether it be the need to look after the welfare of the farmers or invest in rural infrastructure, Governments have to ensure that rural development isn’t compromised. The economic development of our country largely depends on the progress of rural areas and the standard of living of rural masses. Village or rural industries play an important role in the national economy, particularly in the rural development. Rural entrepreneurship is based on stimulating local entrepreneurial talent and the subsequent growth of indigenous enterprises. It recognizes opportunity in the rural areas and accelerates a unique blend of resources either inside or outside of agriculture. Rural entrepreneurship brings an economic value to the rural sector by creating new methods of production, new markets, new products and generate employment opportunities thereby ensuring continuous rural development. Social Entrepreneurship has the direct and primary objective of serving the society along with the earning profits. So, social entrepreneurship is different from the economic entrepreneurship as its basic objective is not to earn profits but for providing innovative solutions to meet the society needs which are not taken care by majority of the entrepreneurs as they are in the business for profit making as a sole objective. So, the Social Entrepreneurs have the huge growth potential particularly in the developing countries like India where we have huge societal disparities in terms of the financial positions of the population. Still 22 percent of the Indian population is below the poverty line and also there is disparity among the rural & urban population in terms of families living under BPL. 25.7 percent of the rural population & 13.7 percent of the urban population is under BPL which clearly shows the disparity of the poor people in the rural and urban areas. The need to develop social entrepreneurship in agriculture is dictated by a large number of social problems. Such problems include low living standards, unemployment, and social tension. The reasons that led to the emergence of the practice of social entrepreneurship are the above factors. The research problem lays upon disclosing the importance of role of social entrepreneurship in rural development of India. The paper the tendencies of social entrepreneurship in India, to present successful examples of such business for providing recommendations how to improve situation in rural areas in terms of social entrepreneurship development. Indian government has made some steps towards development of social enterprises, social entrepreneurship, and social in- novation, but a lot remains to be improved.
OPTIMAL RECONFIGURATION OF POWER DISTRIBUTION RADIAL NETWORK USING HYBRID MET...IAEME Publication
Distribution system is a critical link between the electric power distributor and the consumers. Most of the distribution networks commonly used by the electric utility is the radial distribution network. However in this type of network, it has technical issues such as enormous power losses which affect the quality of the supply. Nowadays, the introduction of Distributed Generation (DG) units in the system help improve and support the voltage profile of the network as well as the performance of the system components through power loss mitigation. In this study network reconfiguration was done using two meta-heuristic algorithms Particle Swarm Optimization and Gravitational Search Algorithm (PSO-GSA) to enhance power quality and voltage profile in the system when simultaneously applied with the DG units. Backward/Forward Sweep Method was used in the load flow analysis and simulated using the MATLAB program. Five cases were considered in the Reconfiguration based on the contribution of DG units. The proposed method was tested using IEEE 33 bus system. Based on the results, there was a voltage profile improvement in the system from 0.9038 p.u. to 0.9594 p.u.. The integration of DG in the network also reduced power losses from 210.98 kW to 69.3963 kW. Simulated results are drawn to show the performance of each case.
APPLICATION OF FRUGAL APPROACH FOR PRODUCTIVITY IMPROVEMENT - A CASE STUDY OF...IAEME Publication
Manufacturing industries have witnessed an outburst in productivity. For productivity improvement manufacturing industries are taking various initiatives by using lean tools and techniques. However, in different manufacturing industries, frugal approach is applied in product design and services as a tool for improvement. Frugal approach contributed to prove less is more and seems indirectly contributing to improve productivity. Hence, there is need to understand status of frugal approach application in manufacturing industries. All manufacturing industries are trying hard and putting continuous efforts for competitive existence. For productivity improvements, manufacturing industries are coming up with different effective and efficient solutions in manufacturing processes and operations. To overcome current challenges, manufacturing industries have started using frugal approach in product design and services. For this study, methodology adopted with both primary and secondary sources of data. For primary source interview and observation technique is used and for secondary source review has done based on available literatures in website, printed magazines, manual etc. An attempt has made for understanding application of frugal approach with the study of manufacturing industry project. Manufacturing industry selected for this project study is Mahindra and Mahindra Ltd. This paper will help researcher to find the connections between the two concepts productivity improvement and frugal approach. This paper will help to understand significance of frugal approach for productivity improvement in manufacturing industry. This will also help to understand current scenario of frugal approach in manufacturing industry. In manufacturing industries various process are involved to deliver the final product. In the process of converting input in to output through manufacturing process productivity plays very critical role. Hence this study will help to evolve status of frugal approach in productivity improvement programme. The notion of frugal can be viewed as an approach towards productivity improvement in manufacturing industries.
A MULTIPLE – CHANNEL QUEUING MODELS ON FUZZY ENVIRONMENTIAEME Publication
In this paper, we investigated a queuing model of fuzzy environment-based a multiple channel queuing model (M/M/C) ( /FCFS) and study its performance under realistic conditions. It applies a nonagonal fuzzy number to analyse the relevant performance of a multiple channel queuing model (M/M/C) ( /FCFS). Based on the sub interval average ranking method for nonagonal fuzzy number, we convert fuzzy number to crisp one. Numerical results reveal that the efficiency of this method. Intuitively, the fuzzy environment adapts well to a multiple channel queuing models (M/M/C) ( /FCFS) are very well.
Unlocking WhatsApp Marketing with HubSpot: Integrating Messaging into Your Ma...Niswey
50 million companies worldwide leverage WhatsApp as a key marketing channel. You may have considered adding it to your marketing mix, or probably already driving impressive conversions with WhatsApp.
But wait. What happens when you fully integrate your WhatsApp campaigns with HubSpot?
That's exactly what we explored in this session.
We take a look at everything that you need to know in order to deploy effective WhatsApp marketing strategies, and integrate it with your buyer journey in HubSpot. From technical requirements to innovative campaign strategies, to advanced campaign reporting - we discuss all that and more, to leverage WhatsApp for maximum impact. Check out more details about the event here https://events.hubspot.com/events/details/hubspot-new-delhi-presents-unlocking-whatsapp-marketing-with-hubspot-integrating-messaging-into-your-marketing-strategy/
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Adani Group Requests For Additional Land For Its Dharavi Redevelopment Projec...Adani case
It will bring about growth and development not only in Maharashtra but also in our country as a whole, which will experience prosperity. The project will also give the Adani Group an opportunity to rise above the controversies that have been ongoing since the Adani CBI Investigation.
2. International Journal of Marketing and Human Resource Management (IJMHRM),
ISSN 0976 – 6421 (Print), ISSN 0976 – 643X (Online), Volume 4, Issue 2, May - August (2013)
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Kelbaugh, (1998), General Electric (1997), Park (2003), Kumar and Nowicki (2008)). The objectives
of quality improvement project using six sigma could be the financial benefits increment, the
operations performance increment, and the better the company image (Hahn et al., (2000), Wang and
Hsu (2009), Su and Chou (2008), Chakravorty (2009)). Companies achieving Six Sigma should see
the results in their bottom lines and with their customers – and should not oversell their efforts.
Performance against plan is how a business typically defines success. Business gauge success by a
multitude of metrics: revenue, income, profit, customer satisfaction, market share, return on
investment, return on assets, and so on. Bottom line, planned success means reaching and sustaining
goals over time-usually growth goals. According to Creveling et al. (2006), companies which
effectively implement Six Sigma tools, methods, and best practices find the following benefits:
• Systematic innovation: Generate and define ideas linked with market opportunities in a
structured way
• Manage risk better: Identify critical issues early in the commercialization process such that
plans can be developed to mitigate or eliminate risk going forward.
• Higher return yield from a project portfolio: Avoid over boarding resources with too many
low-risk, small gain projects through a discriminating selection process.
The objective of any Six Sigma project leads to how to evaluate the accomplishment of its
improvement. The economic index would be determined if the project aims to increase the financial
benefit (see Hahn et at. (2000), Kumar and Nowicki (2008), Kwak & Anbari (2006)etc for details).
To tailor Six Sigma to marketing, one should start with an overview of how it works. It is found that
marketing professionals rarely view their own work as process-oriented. According to American
Marketing Association (AMA), marketing is “a set of processes for creating, communicating and
delivering value to customers and … managing customer relationships in ways that benefit the
organization and stakeholders”. The American Heritage Dictionary describes a process as “a series of
actions, changes, or functions bringing about a result” and according to Moorman and Rust (1999),
the marketing function should play a key role in managing several important connections between
the customer and critical firm elements, including connecting the customer to (i) the product, (ii)
service delivery, and (iii) financial accountability.
This article is written with the aim of proposing some essential tools required for Six Sigma
marketing. The article is addressed to management professionals, Six Sigma consultants, Black belts
and quality professionals responsible for the Six Sigma marketing processes and products. The
performance measure is generally given in terms of sigma values or levels, which will play
significant role in deciding the potential of the projects. The science of marketing is described
through project management, supply chains and computing technologies in tandem with the key
performing indicators described in various sections below.
In the following sections, we discuss some marketing essentials required for Six Sigma
philosophy. The project management related issues will be discussed in section 2. Two important
models associated with project management are presented in this section with their practical
significance. A series of performance measures associated with Six Sigma project are discussed in
Section 3. These measures include various performance indicators necessary during and after the
marketing phase are on. The relevance of supply chain in marketing Six Sigma projects is discussed
in section 4. The quantification of project success in terms of confidence-trust matrix is also detailed
in this section. The role of computing technology in marketing process is presented in section 5. The
last section summarizes the marketing essentials.
3. International Journal of Marketing and Human Resource Management (IJMHRM),
ISSN 0976 – 6421 (Print), ISSN 0976 – 643X (Online), Volume 4, Issue 2, May - August (2013)
3
2. SIX SIGMA PROJECT MANAGEMENT
The main objective of a Six Sigma project is to improve quality of the process by reducing
variation. There are two approaches for selecting the right project: a model generating quantitative
data and a model only generating qualitative data. Some of the important issues need special
attention while selecting a project is:
• Will the project maximize profits?
• Will the project maintain the market share?
• Will the project consolidate the market position?
• Will the project open up new markets?
• Will the project maximize utilization of existing resources?
• Will the project boost company image?
• Will the project increase (or decrease) risk faced by the company?
• Is the project scope within the company’s current skills and experience?
Most of the Six Sigma projects are the resultant of customer needs and expectations. As
described by Pande et al.(2000), the results of any Six Sigma project depends on reliable and quality
data. Any data collected contain a mass of information. The problem is to extract that part of it that is
relevant to the questions to be answered by the project, in the simplest and most understandable way.
This essentially involves checking for pertinent patterns and anomalies in the data. This is the basic
role of statistical models: to simplify reality in a reasonable and useful way, a way that you can
empirically check with the data. No model is ever ‘true’, but some models are more useful than
others for given data and questions. Irrespective of whether the model constituted by a quantitative or
qualitative data, the model can provide:
• a parsimonious description or summary of results, highlighting important features
• a basis for prediction of future observations
• biological or social insight into the processes under study
• a test of a prior theoretical relationship
• comparison of results from different studies
• measures of precision of quantities of interest
Six Sigma emphasizes the model in terms of Y = f(X). It mathematically summarizes the fact
that the output from a business process is a function of the decisions made by the process owners. A
best model is that which is free of all irregularities and inconsistencies in the data leaving very little
chance for assignable causes (man, machine, method, materials and processes) variation. A general
model building involves the following steps:
1. Studying the important descriptive statistics, in order to become familiar with the data
2. Developing a reasonable model from the results of step 1 and from previous knowledge
3. Fitting the model to the data
4. Checking the goodness of fit of the model
5. Going back to step 2, if necessary
6. Using the model to draw appropriate conclusions.
The purpose of modeling is not to get the best fit to the data, but to construct a model that is not
only supported by the data but also consistent with previous knowledge, including earlier empirical
research, and that also has a good chance of describing future observations reasonably well.
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Generally a probability model and a regression model are sought for describing these types of
situations.
2.1. Probability model
It is expected that the main response variable (Y) under study should be specified in the project
protocol. In most cases it is directly observable, but in some experimental trials it may be constructed
– for example, the difference between the responses at baseline, before the intervention began, and
the final response after a certain length of treatment. In statistical models, we consider the response
variable to arise at random in a certain sense: that is we cannot predict in advance exactly what
response each respondent will give so that random fluctuations are not reproducible. This variability
arises primarily from differences among human beings, in contrast to studies in physics or chemistry
where measurements error is predominant.
When the value of a variable is subject to random variation, or when it is the value of a
randomly chosen member of a population, then it is called a random variable. A description of the
possible values of a random variable and of their corresponding probabilities of occurrence is the
probability distribution or the probability model. A probability distribution is a mathematical
function that smoothes the histogram of observations in an informative way, while retaining and
highlighting the basic shape. A probability distribution is defined for both qualitative and
quantitative data. Binomial (for binary responses), Poisson (for counts), geometric, hyper-geometric
etc and probability models for qualitative and discrete data and normal, exponential, Beta, gamma,
uniform, Weibull, log normal distributions etc are the probability models for continuous and
quantitative data. Most probability distributions have one or more unknown and unobservable
parameters (not explanatory variables). Most distributions have a parameter that indicates the size of
the responses, generally the mean and some have a second parameter related to the shape of the
distribution, may be called the variance. And there are distributions having more than two parameters
which include location, scale, shape parameters and other parameters.
Many often a model based Six Sigma project may be easier to market than a project focused
only on management by objectives (MoB). However, constructing a probability model may not be
easy every time, but with some statistical knowledge, this can be made possible. As seen in reality,
more than seventy percent of the successful Six Sigma projects involve analysis based on probability
models and the inferences based on them (Pyzdek (1999, 2000), LG Electronics (2000), Muir (2006),
Kubiak and Benbow (2009).
2.2. Regression model
The probability distribution describes the random variability in the response variable.
However, in many studies these variables can come with systematic changes in the response under
certain conditions. They are called the explanatory variables (X’s). This situation can also be
translated in to a statistical model by looking at how the probability distribution of the response, or
more exactly the parameters in it, change under these conditions. This process may need some
general assumptions to be made on the variables in the model. For simplicity we assume that the
mean of the distribution changes with the conditions of interest and variance to remain constant
under all conditions. Further by assuming a linear relationship between the response and explanatory
variables, the model building becomes an easy job. But in reality this will not happen every time and
hence the necessity of regression model.
The above two conditions put together will give the standard (multiple) linear regression
model, whereby some function of the mean changes with the conditions:
...)( +++= 22110 iii xxg βββµ (2.1)
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where iµ is the mean for the i-th subject, ijx is the observation of the j-th explanatory variable for
that subject, and jβ is the corresponding unknown parameter, the regression coefficient, to be
estimated. This model that combines some probability distribution with a linear regression has come
to be known as a generalized linear model. This kind of models is very handy for Six Sigma project
personals as they are very easy to build and interpret without any technical hazels.
2.3. Critical evaluation of a project
Every project needs critical evaluation before, during and after its execution. Especially, a Six
Sigma project starts its evaluation from its baseline performance to final sigma level calculation.
This performance evaluation is the key to its success and its acceptability. For continuous evaluation
also, these performance indicators are used. Some of the methods available to represent task
relationship in six sigma projects are Gantt charts, Program Evaluation and Review Technique
(PERT), Critical Path Method (CPM), Matrix based methods and system dynamics etc. Among these
Gantt charts and PERT system are project scheduling tools and majorly focus on time constraints.
Whereas matrix based methods and system dynamics are used to identify interdependency between
activities and causal relation between them. Gantt charts are graphical way to represent relation
between activities and time. Gantt charts are easy to use but they cannot explicitly represent relation
between different tasks that confines the use of this chart in project scheduling.
PERT/CPM techniques are also known as PERT based project management system. PERT
based systems are network based techniques used to design project schedule, which emphasis on
intended project completion time along with estimated time range of individual activities. This help
the organization a number of ways, such as ability to tell customer exactly when their orders will be
filled or to know when to order new supply and so on. The major difference between PERT and
CPM techniques are that originally time estimates for the activities were assumed deterministic in
CPM and were probabilistic on PERT. Practically there is no significant difference between these
two methods.
According to Creveling et al. (2006) desiging cycle time for marketing processes differs from
simply creating Work Breakdown Structure (WBS) and generating Gantt charts. Defining specific
gate requirements, measuring gate deliverable, tools and methods requied to generat data for gate
deliverables, generation of maximum value to fulfill gate requirements and balanced and trained
resources plays important role in generating Critical Path (CP) of cycle time. “Designed” cycle time
provides the assurance that a given project’s potential is leveraged and optimized.
According to Pyzdek (2010) PERT systems are used to:
• Aid planning and control of project
• Determine feasibility of meeting specified dead line
• Identify most likely bottleneck in a project
• Evaluate the effect of change in the project requirements or schedule
• Evaluate the effect of deviating from schedule
• Evaluate the effect of diverting resources from the project or redirecting additional resources
to the project
PERT chart represent task in serial or parallel flow of network. This flow represents task
dependencies within phases. CP identifies the longest critical tasks time line in a phase. CP identified
in the PERT/CPM chart shows managers which activity are the most time critical. This allows
managers to focus process improvement on the task that are most vital to the timely competition of
the project. Since network times are based on estimates, CP is likely to vary and can be viewed as
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dynamic entity. The marketing process may be imitated at this stage for better communication and
understanding of the market requirements and pulses.
3. MEASUREMENT BASED KEY PERFORMANCE INDICATORS (MKPI)
With respect to a Six Sigma methodology, the key performance indicators (KPI) play a very
important role in judging the overall performance of the organization. It provides a series of
measures against which internal managers and external investors can judge the business and how it is
likely to perform over the short term and long term. Obviously KPI's cannot operate in a vacuum.
One cannot establish a KPI without a clear understanding of what is possible – so we have to be able
to set upper and lower limits of the KPI in reference to the market and how the competition is
performing. This means that an understanding of benchmarks is essential to make KPI's useful, as
they put the level of current performance in context – both for start ups and established enterprises –
though they are more important for the latter. Benchmarks also help in checking what other
successful organizations see as crucial in building and maintaining competitive advantage, as they
are central to any type of competitive analysis. The best possible way to achieve a competitive edge
is through the use of measurement based KPI’s, as they can establish current performance,
benchmark and target levels. For each monitoring module, one can then establish what the current
level of performance is in a measurable and understandable way. This current performance can then
be marketed with guaranteed results.
As different individuals and organizations will put a different emphasis on each item of
information a definitive list of what is and what is not a KPI will depend on individual decisions, and
will vary considerably according to the stage of company development. Start up enterprises need to
place their emphasis on structural factors and established companies on operational
performance. Some of the crucial measurement based KPI are
• Gross profit is one key measure to the success of the organization. Research shows that
survival rates are linked to levels of gross profit; gross profit margins above that of the
competition provide clear evidence of competitive advantage.
• Return on capital (ROC) employed is another key measure of the success of the organization.
The ability to use investment effectively is central to effective long term development.
• Z-score is a measure of the liquidity of the enterprise and clearly defines positive or negative
trends
Both gross profit and return on capital employed are part of the model balanced scorecard for
overall objectives. Other components within the financial reporting module that might be considered
as KPI's are factors such as the debt/equity ratio (DER), project success rates, bad debt rates, and free
cash flow (FCF). Including time, budget and specification to project reporting would also be a
natural addition in the measurement based KPI’s.
In addition to the creation of the enterprise balanced scorecard, in which gross profit, return
on capital and Z-scores are standard elements, the identification of KPI's in each of the operational
areas or knowledge centers also assists the enterprise in plan development. These KPI's will change
over time, but their creation as part of the initial creation of each knowledge centre will focus and
direct their operational activities. One of the most valuable contributions that KPI analysis can
deliver is an understanding of the true nature of the competitive environment (Cox et al. 2003).
The KPI's are the essential part of any effective management information system (MIS).
In a decentralized planning system focused around knowledge centers, the choice of key
performance indicators is the first stage in the re-evaluation of the information system to make it
more valuable and relevant to the operating unit rather than one that is centrally provided. Thus the
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choices of KPI determine what will drive that part of the enterprise and what information must be
collected to analyze and manage it. Such information gathering or software choices create
information networks that are relevant and provide data which is used specifically for operational
purposes and reducing information overload. The information system also helps the management to
focus on
• Action planning and implementation with an emphasis on management by objectives (MoB)
which will include a standardized rate of return and detailed project control
• Training as part of a companywide approach to focusing staff and management on essential
operational requirements
• Business planning as a core part of the business plan outline
• Identification of necessary actions in change management, exit planning and survival and
recovery planning
• Set priorities for investment appraisal, and the choice of emphasis that should be given to the
main strategies within the golden circle, consolidation (including cost cutting), market
penetration, market development and product development.
We now discuss the importance of supply chain metrics in marketing placing emphasis on
process capability and sigma level during and after the launch of a Six Sigma proejct.
4. RELEVANCE OF SUPPLY CHAIN METRICS IN SIX SIGMA MARKETING
Supply Chain measurements or metrics such as inventory turns, cycle time, DPMO and fill
rate are used to track supply chain performance. Commonly used Supply Chain Management
metrics can help you to understand how your company is operating over a given period of time
(Mentzer, 2001). Supply Chain Measurements can cover many areas including procurement,
production, distribution, warehousing, inventory, transportation, customer service like area of
logistics. However, a good performance in one part of the Supply Chain is not sufficient (Pyzdek,
2000). The solution is for you to focus on the key metrics in each area of your Supply Chain.
Tracking your Metrics allows you to view your performance over time and guides you on how to
optimize your Supply Chain. It allows management to identify problem areas. It also allows for
comparison to other companies through like industry benchmarking. The Supply Chain Metrics
improve the logistics operations in the following ways:
• The first step is to identify the metrics that you want to use. Do not use every metric
available. Rather, focus on the vital measurements necessary to your business. These can be
considered your KPI's.
• Next, you need to understand the meaning of these metrics. It is not enough for management
to simply view these measurements; they must also understand the meaning behind them.
• The next step is to learn the mechanics behind the measurements. What drives them positive
& negative? Try to understand the various factors that influence your results.
• Using this information, identify weakness or areas of improvement in your current processes.
• Set goals based on these improvement areas. The goals should be aggressive, but yet
obtainable. Goals can be based on benchmarking against like companies or goals can be set to
reflect a specific percentage improvement over past performance.
• Put corrective action in place to improve your processes. Make sure that these corrective
actions do not negatively affect other areas. Also, check that all affected areas have a clear
understanding of the changes.
• Monitor your results. Did your corrective actions yield your desired results? If so, what is
your next area for improvement? If you did not get the desired results, what went wrong? Try
to identify the root cause of your undesired results.
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All Six Sigma projects are generally marketed as per the sigma level of the process or project.
It is not mandatory to use the Sigma scale for this. Besides Sigma, DPMO and Yield, there are other
valid ways to express and measure the performance of a process or product/service. One can also use
methods like control charts and process capability indicators, for this purposes.
Some of the “logistical” issues that surround Six Sigma measures are:
• Establish guidelines for Six Sigma measures to be applied effectively across an organization
– to ensure consistency.
• Six Sigma measures are not “static”. As customer requirements change, Sigma performance
will also change. It will be a good idea to continue calculating with the old requirement,
simultaneously with the new requirement, at least for some time. This will make transition
smoother and the project team will be judged fairly for their work.
• Set priorities on what can and should be measured. No one should expect accurate Sigma
performance data for every part of a company in a short time.
• Sigma measures (or any other method of measures) by itself will not improve the
performance. They are just report cards or milestones to show where the company is on its
journey towards excellence. To bring about improvement, methods of analysis and tools are
required to be used.
Creveling et al. (2006) offers three unique methods of Six Sigma marketing namely, Strategic,
tactical and Operational areas of business processes. According to them, the natural flow of
marketing work starts with strategic renewal of the offering portfolios, to the tactical work of
commercializing new offerings, and finally to the operational work of managing the product and
services lines in the post-launch sales, support and service environment. The method to guide
marketing strategic work is called IDEA (Identify, Define, Evaluate and Activate). The approach for
tactical work is called UAPL (Understand, Analyze, Plan and Launch) and the method to direct
marketing’s operational work is called LMAD (Launch, Manage, Adapt and Discontinue). The
methods described above are product/service specific and are useful for commercialization of the
projects. Each of these processes features distinct phases in which sets of tasks are completed. Each
task can be enabled by one or more tools, methods or best practices that give high confidence that the
marketing team will develop the right data to meet the task requirements for each phase of work.
Marketing processes and their deliverables must be designed for efficiency, stability and most
importantly, measureable results and hence the importance of Six Sigma. Therefore, the phases
discussed in IDEA, UAPL, and LMAD processes ensure measurable results that fulfill any
company’s requirements.
4.1. Quantifying the success of a Six Sigma project
The success of any Six Sigma project can be quantified using the Confidence-Trust matrix as
given in Table 1. Once the confidence and trust is quantified, work with the team using their
experience to decide for each success of the project regarding its marketable potential. Both
Confidence and trust are assessed on a scale of 0 to 1, where close to zero is considered as
unsuccessful and 1 being highly successful project. If both confidence and trust are moderate or high
in its effect, then the implication will be that the project could be successful and can yield huge
retune on investment and costs. Once the success has been assessed for confidence and trust, one can
prioritize the launching of projects confidently.
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Table 1. Confidence-Trust ranking matrix
Confidence Trust
POOR
0.1 – 0.24
LOW
0.25 – 0.49
MODERATE
0.50 – 0.74
HIGH
0.75 – 1.00
POOR
0.1 – 0.24
Poor Poor Low Low
LOW
0.25 – 0.49
Poor Low Low Moderate
MODERATE
0.50 – 0.74
Low Low Moderate Moderate
HIGH
0.75 – 1.00
Low Moderate Moderate High
Confidence in above table can be considered as organizations’ “Deliverable” perspective and
Trust can be considered as customers’ “Requirement” perspective. Confidence articulate the
commitment of organizations to fulfill customer requirements and trust articulate faith of customers
in organization value delivery system. Engaged in improvement project, good quality of data is
generated by marketing department and assurance about meeting project dead line brings confidence
in employees to generate deliverables up to the expectation of customers.
The Confidence levels can be interpreted as follows:
• If major deliverables are properly documented and satisfy time, quality and cost requirements
completely, then confidence is considered as high (0.75-1.00).
• If very few deliverables are incomplete then confidence is considered as moderate (0.50-
0.74).
• If many deliverables are incomplete then confidence is considered as low (0.25-0.49).
• If majority of deliverables are incomplete then confidence is considered as poor (0.1-0.24).
And the Trust levels can be interpreted as
• If customers requirements are fully satisfied by organizational deliverables related to time,
quality and cost, trust will be high (0.75-1.00).
• If major customers requirements are satisfied by organizational deliverables, trust will be
moderate (0.50-0.74).
• If some customers requirements are satisfied by organizational deliverables, trust will be low
(0.25-0.49).
• If few customers’ requirements are satisfied by organizational deliverables, trust will be poor
(0.1-0.24).
Hence combination of higher level of confidence and higher level of trust results in success of six
sigma project. The marketing personals should then concentrate on projects which yields moderate to
high confidence projects for implementation.
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5. ROLE OF IT IN SIX SIGMA PROJECT MANAGEMENT AND MARKETING
Information technology (IT) is a valuable aid in project management and marketing. Apart
from providing computational support in a whole range of network scheduling calculations, it has
made possible the generation and distribution of online reports for effective monitoring and control.
Since a large number of activities and individuals are involved in a project, keeping everyone up to
date and involved is itself a difficult task. This has been made easier through e-mail, the intranet and
the internet. This simplifies the coordination between the head office and multiple sites working on
different environments. Moreover, it encourages the practice of green management of infrastructure
and environment, which is the need of the hour. With these kinds of easier and cost effective
methods, one can enhance the efficiency of the project and save huge amount of manpower and
finances. Plenty of computer software’s are available these days for enabling project management
and marketing. The major advantages of such software’s are:
• easy sorting and listing of activities
• easy updating and new listings of project progress over the life cycle
• advanced analysis and reporting can be done automatically
• decision making can be done effectively as per the resources available
• modification and alterations of constraints can be done in accordance with project priority
• customer information can be made more effective and transparent
• customer reach can be made more genuine and purposeful
• Six Sigma project appreciation can be improved
• Six Sigma project success can be shared and informed
According to Bardhan (2007) three dimensions in which information technology can help to improve
project competencies are
1. Consistency of the business project: Consistency refers to the extent to which users able to
achieve targeted business results in predictable manner and achieve their goal in ongoing
basis. By helping to aggregate project information across the enterprise, IT improves the
ability to track project progress, correct deviations and consistently execute business plans.
2. Customer and market relevance of the outcome: Relevance refers to the extent to which
process is customer centric in ability to meet current and future customers need. Used
appropriately IT help organization “high bandwidth” channels with its lead users and main
stream customers to sense tactic and emerging customer information.
3. Degree to which the project is structured to leverage the efforts of suppliers and value chain
partners: Leverage refers to the degree to which the firm is able to utilize its supply chain
partners. IT helps a firm improve leverage in many ways including spotting low cost and high
quality global partners and integration of existing assets from other parts of the firm.
6. CONCLUSION
Different tools related to application of Six Sigma in marketing processes have been
discussed. Probability based modeling or regression based modeling techniques are used to model
data sets generated through marketing processes. Probability based modeling approach is mainly
related with identification of proper probability distribution for the major response variable, where as
regression based modeling approach is related with identification of causal relationship between
response variable and predictors. PERT/CPM system discussed here plays important role in
identification of path which is critical to complete the project on time represented along with
interrelation between activities and their expected completion time. In order to examine organization
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competitiveness for key deliverables, measurable Key Performance Indicators plays important role.
Supply chain matrices measures lucidity of activities related to supply and demand based on KPI of
deliverables. Along with tools discussed above, the Confidence – Trust matrix method plays
important role to quantify success of six sigma project. Project management through information
technology plays important role to track organization growth, facilitate customers with updated
information and to manage supply chain effectively.
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