Six Sigma A Popular Corporate Strategy
For organizations to stay ahead in competition it is imperative to have organized and effective business practices
. Six sigma is an ideal business management approach for business firms to deliver quality products and increase their revenue. Moreover, employees with certification in six sigma have become the preferred choice of businesses today.
Being an excellent business management strategy, six sigma has come up as an effective approach for organizations to improve the quality of their process outputs. The strategy enables businesses to figure out reasons for errors and remove these. It also allows businesses to reduce variations in manufacturing and other business processes.
Businesses design a specialized infrastructure that comprises people who have required skills and hold expertise in six sigma methods. Every project that uses six sigma approach works on a defined series of steps that also include financial targets such as increased profits and reduced costs. Also, the business approach incorporates a set of management methods like statistical methods.
Basically, six sigma is a data-driven approach that works in a direction to make business processes free from any kinds of defects or errors. The statistical representation in six sigma method represents the quality of performance of the process.
To run a successful business, it is imperative to achieve six sigma in business practices. To achieve the objective, it is required that defects must not go beyond a limit of 3.4 defects per million opportunities. Considering six sigma methodology, defect refers to anything that does not match customer's specifications. On the other hand, total number of chances for defects is termed as opportunity in six sigma methodology.
The six sigma project uses two methodologies, DMAIC and DMADV that are followed by the business organizations. Although both the methodologies have five phases, but differ in terms of implementation. DMAIC is used in projects that are meant for improvising the existing business processes whereas DMADV is usually implemented on projects meant to create new process designs and products.
With growing trend of six sigma approach in business practices, organizations today seek employees with
six sigma certifications. With the increasing demand of such professionals, businesses can grow as strong and powerful organizations.
Being used as an effective management strategy, six sigma strategy is applied in almost every industrial sector today. It focuses on efficiency of business process thereby increasing production and decreasing the number of errors.
Customer loyalty and increase in revenue generation are some of the major advantages that come along with six sigma business strategy. Moreover, the approach enables businesses to increase returns to the shareholders that ultimately increase the stock prices thus creating a good reputation in the market.
Besides increasing the revenue generation, six sigma methodology is an excellent way to achieve customer satisfaction and loyalty. The approach identifies the importance of customer's experience after using the products of company. Therefore, businesses cater to the diverse needs of customers that creates loyalty and gives them satiating results.
Also, it is a motivating factor for employees that enhances overall performance of businesses. Companies with six sigma projects can establish employee and management strategies. Further, the approach even focuses on building strong leadership that certainly brings corporate unity
With such outstanding benefits of six sigma approach, many of the businesses look for individuals who have knowledge of six sigma methodology. There are some really good online courses available that would surely help you to learn the required skills and practices.
by: John Asher
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