Essay Title: 

Six Sigma

March 23, 2016 | Author: | Posted in engineering, technology

Six Sigma

The growing number of companies are beginning to understand the multiple and diverse implications of Six Sigma . Initially , Six Sigma was employed to enhance organizational strategy in manufacturing reducing cost of goods sold . Six Sigma is also referred to as the Business Process Improvement application of which can increase company margins and profits , consequently . The Six Sigma value in marketing results from the four basic steps : measurement , analyzing , improving , and controlling (ABA Banking Journal , 2003 . When applying the Six Sigma model in marketing , the steps are somewhat different involving the [banner_entry_middle]

preparatory stage

Application of Six Sigma in business marketing environment starts with understanding of the potential sources of revenue for the company , which includes either getting the existing customers buy more at a time or be more frequent in their purchases , or attracting new customers (Smith and Blakeslee , 2002 . Further , one should distinguish the process that can have some effect on the stated above sources of revenue . The next action involves breaking down the processes into steps including identification of variables that affect the quality at each of the steps of the process . It should be pointed out , that in marketing quality results are subjective however , if quality estimation involves measurement of efficiency of the marketing results at each of the stages – the process can be transferred into a quantifiable field

Once the preparatory process is completed , one can easily identify a specific problem that can be resolved with DMAIC framework (Smith and Blakeslee , 2002 . The problem must be defined and measures , the reasons for poor performance must be assessed , strategies on improvement must be suggested , and the implementation process should be controlled in to sustain results

As such , Six Sigma framework can be a very successful strategy in marketing as it uses many helpful tools such as brainstorming techniques , paretos , process maps , etc . and at the same time helps to organize the process overall to make it tame saving and efficient and in such way reduce costs

References

Smith , D Blakeslee , J (2002 , September . The New Strategic Six Sigma : The Old Standby Quality Approach , Six Sigma , Can Change Your Organization ‘s Culture to Drive Strategy Deployment and Business Transformation . T D , 56 , 45

Yes , Six Sigma Can Work for Financial Institutions (2003 . ABA Banking Journal , 95 (9 , 93

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