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Essay / Six Sigma: Long Term Business Strategy
Quality Management (QM) has been considered as an important management strategy to achieve core competencies. Conventional quality tools such as zero defects, statistical process control (SPC) and total quality management (TQM) have played an important role for some time. As Six-Sigma is a newer quality improvement initiative, it has gained popularity and acceptance in most industries across the world. Most of the basic elements of six sigma such as failure mode effects analysis (FMEA), statistical process control (SPC), gauge repeatability and reproducibility and many other tools have been in use for some time. time. In fact, Six-Sigma offers a framework that attempts to unite basic quality tools with the help of high-level management support. However, many service industries still do not use fundamental aspects of SPC. In fact, they can benefit immensely from implementing both statistical process control (SPC) and six-sigma. Proper implementation of Six Sigma has helped industries like General Electric (GE), Citibank and many other service industries remove defects/errors from their delivery process and create stunning success stories that others can follow . The only limitation of six sigma in service industries is that the characteristics of service industries are not uniform. The application of Six-Sigma and its benefits are somewhat limited to a few specific types of services such as the healthcare sector and the banking sector. Understanding the process control variables will help broaden the applications of six sigma in service industries. Say no to plagiarism. Get a tailor-made essay on “Why violent video games should not be banned”?Get the original essaySix Sigma: Six Sigma, as part of a long-term business strategy, will include the following: Process orientation. Insurance/financial services based organizations must learn to identify important business processes that are critical to customer satisfaction. This will enable them to focus more on improving their quality at the business process level, through a brief and deeper understanding of policy owner requirements. Improve quality while reducing costs. Six Sigma gives businesses a more appropriate path towards preventing errors/defects, reducing handovers and eliminating rework. This will help immensely in making quick transactions and reducing costs. Using facts to make management decisions. Six Sigma will add statistical efforts to improve. Managers will be able to make decisions based on the given data and facts. They will not rely on their perceptions and intuitions, they will more precisely attempt to establish better performance levels that can be achieved and promised to clients and customers. potential customers. Keep in mind: this is just a sample. Get a personalized article from our expert writers now. Get a Personalized Customer Loyalty Essay. Focus on the Voice of the Customer (VOC), Six Sigma offers a very good understanding of what can create and build customer loyalty, and how can you try to