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              The Invention of the Shopping Cart and Its Psychological Impact on Consumer Behaviour

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              Organizational structures  shape company’s value creation

              Organizational structures  shape company’s value creation

              What is Asset Specificity?

              What is Asset Specificity?

              Do you know who Owns Corporations?

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              Arrival of my new book on Faith Economy co-authored by Dr. Shilpa Shinde

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              What are Treasury Bills?

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                Educational Leaders who fought for women’s education did not seek validations from society

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                How to write an appropriate title 

                How to write an appropriate title 

                Can India regain the title of Vishwaguru?

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                  Can scholarly articles/papers from blogs be cited in research work?

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                  Mixed Method Research is Most Suitable

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                  Case Study is one of vital type of research

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                    Impact of the Thucydides Trap and Clash of Civilization  on International Businesses

                    Impact of the Thucydides Trap and Clash of Civilization  on International Businesses

                    Launch of my book  titled “International Business”

                    Launch of my book titled “International Business”

                    Gift City is becoming India’s Capital Gateway

                    Gift City is becoming India’s Capital Gateway

                    The science of Psephology

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                    What is the Future of BRICS Currency?

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                    Ram Mandir tableau graced the 75th Republic Day of India

                    Ram Mandir tableau graced the 75th Republic Day of India

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                      Guiding 35 PhDs: A Journey of Mentorship, Transformation and Academic Fulfilment

                      Guiding 35 PhDs: A Journey of Mentorship, Transformation and Academic Fulfilment

                      The Story Behind the song “Khoya Khoya Chand” from Film Kala Bazar

                      The Story Behind the song “Khoya Khoya Chand” from Film Kala Bazar

                      Arrival of my new book on Faith Economy co-authored by Dr. Shilpa Shinde

                      Arrival of my new book on Faith Economy co-authored by Dr. Shilpa Shinde

                      The story behind the Swedish word Lagom which means Just Enough

                      The story behind the Swedish word Lagom which means Just Enough

                      Lasting friendship between R.K.Narayan and Graham Green that shaped the famous film novel ‘The Guide’

                      Lasting friendship between R.K.Narayan and Graham Green that shaped the famous film novel ‘The Guide’

                      Mumbai’s Historic Single Cinema Screen Maintains Brand Loyalty of Marathi Cinema Viewers 

                      Why Memories are a fuel of our life

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                      How to arrive at accuracy in business processes with the help of Six Sigma (6σ)

                      Dr Vidya Hattangadi by Dr Vidya Hattangadi
                      September 26, 2022
                      in Strategic Management
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                      Eleven Million Checks: few years back, one ad of Bank of America on TV typified Six Sigma belief. The slogan in the ad was “We don’t process eleven million checks a day. We process one check just right, and then do it eleven million times.” The process is charted out just once, but it is so accurately modeled and is reproduced to achieve highest success rate. This tagline personifies Six Sigma. How high is this success rate? It is less than 3.4 errors per million opportunities for error….this is Six Sigma which is quality management term. Six Sigma (6σ) is a set of techniques and tools for process improvement. A six sigma process is a statistical tool in which 99.99966% perfection is achieved.

                      It was introduced by engineer Bill Smith while working at Motorola in 1980.  The term Six Sigma got registered because it was written that way when registered as a Motorola trademark on December 28, 1993. It was originated from terminology associated with statistical modeling of manufacturing processes. The maturity of a manufacturing process can be described by a sigma rating indicating its yield or the percentage of defect-free products it creates—specifically, within how many standard deviations of a normal distribution the fraction of defect-free outcomes corresponds to. Motorola set a goal of “six sigma” for all of its manufacturing.

                      Bill Smith generated billions of dollars for Motorola; he introduced his statistical approach aimed at increasing profitability by reducing defects. Smith, in later part of his life earned the title as ‘’Father of Six Sigma.’’ Today it has become a mainstream operation term in business world. As a fact of life the creator rarely gets rewarded for his creativity, as a Motorola employee, Smith did not share directly in the profits generated by the company’s Six Sigma applications. However, over the years, he and Motorola garnered numerous awards and recognition for his vital work to improve profitability in American manufacturing sector. Smith was proud of his role in Motorola’s winning the prestigious Malcolm Baldrige National Quality Award which is given for the best practices in quality management in U.S. The Baldrige Award came in 1988, two years after Motorola implemented Smith’s Six Sigma principles.

                      In 1995, Jack Welch included Six Sigma fundamentally in all his business strategies at General Electric (GE). He decided to give a thorough overhaul to General Electric; he was guided by engineers and consultants, and he realized that something needed to be done to reduce the operational defects throughout the company. Do you know that Jack Welch’s appointment came with the mandate to change the company for the better; the GE board told him that in whatever way necessary, Welch had to bring the changes? That’s where Six Sigma was brought into the processes at GE. Over the course of five years of Six Sigma implementation, GE reported savings of $12 billion. That is a gigantic improvement, isn’t it? Welch became a promoter of Six Sigma and championed its use in not just his own company, but in others around the world, even in small businesses.

                      What are the strengths of Six Sigma? It addresses quality problems; errors and defects and costing in terms of waste and delays. It helps in diagnosing and solving problems for getting solutions to problems with its dozens of tools. Once the diagnosis is complete, the right tool can be chosen for a rapid solution. It develops key metrics that first define the problem, then measure the defects and give desired and actual results. It can benchmark the methods at the backdrop of industry’s best practices. With an appropriate investment, a company that adopts Six Sigma can be a center of excellence developing its own best practices through continuous improvement. Another feature of Six Sigma is that it works well with other cutting-edge management tools, such as continuous improvement (kaizen), lean manufacturing, and agile development.

                      Features that set Six Sigma apart from previous quality-improvement initiatives include: a clear focus on achieving measurable and quantifiable financial returns from any Six Sigma project, an increased emphasis on strong and passionate management leadership and support, a clear commitment to making decisions on the basis of verifiable data and statistical methods, rather than assumptions and guesswork.

                      In recent years, some practitioners have combined Six Sigma ideas with lean manufacturing to create a methodology named as Lean Six Sigma. The Lean Six Sigma methodology views lean manufacturing, which addresses process flow and waste issues, and Six Sigma, with its focus on variation and design, as complementary disciplines aims at promoting business and operational excellence. Companies such as GE, Accenture, Verizon, GENPACT, 3M Corporation, Xerox, Allied, Conseco, Tata Steel and IBM use Lean Six Sigma to focus transformation efforts not just on efficiency but also on growth. It serves as a foundation for innovation throughout the organization, from manufacturing and software development to sales and service delivery functions. The International Organization for Standardization (ISO) has published in 2011 the first standard “ISO 13053-1:2011” defining a Six Sigma process. Other “standards” are created mostly by universities or companies that have so-called first-party certification programs for Six Sigma.

                      Implementation of Six Sigma ensures accuracy to specification. 6 Sigma takes care of 99.73% of the process deviation. Organizations cannot afford to set a very loose specification, and, also, they cannot chip away the high assurance point as set in Six Sigma Model.
                      This means that Six Sigma itself is pretty difficult to achieve, therefore 7 Sigma and above is beyond belief.

                      Tags: Bill SmithBusiness ProcessesDr. Vidya HattangadiISO 13053-1:2011 CertificationLean ManagementMalcolm Baldrige National Quality Award.Motorola CorporationQuality ManagementSix Sigma
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                      Dr Vidya Hattangadi

                      Dr Vidya Hattangadi

                      Dr. Vidya Hattangadi is an accomplished academician, researcher, and thought leader with over four decades of combined experience 20 years in managerial roles in industry and 24 years in management education. She holds a PhD in Marketing Management from Savitribai Phule Pune University and a D.Litt. from the University of Mumbai for her post-doctoral published work. She is a prolific writer and blogger, Dr. Hattangadi runs the widely read blog www.drvidyahattangadi.com, which enjoys strong organic traffic and engages readers across a broad spectrum of subjects, including management, leadership, psychology, social trends, music, current affairs, and politics and psychology. Her blog is 12 years old. Her experience of combining knowledge of industry work with an academic background creates a powerful, "pracademic" profile that bridges the gap between theoretical knowledge and practical application. This hybrid approach has made her a powerful Professor in the classrooms and she has produced graduates who are not just knowledgeable, but industry-ready. She worked for Maratha Mandir’s Babasaheb Gawde Institute of Management Studies as Director, Research Head and Professor. She has written a fortnightly column for The Financial Express from 2017 to 2021 and has contributed extensively to leading publications such as The Hindu, Free Press Journal, and The Economic Times. Her articles are known for their analytical depth, clarity, and relevance to contemporary issues. Dr. Hattangadi has successfully guided 35 PhD scholars in Management Studies across institutions such as the University of Mumbai, SNDT Women’s University, and Yashwantrao Chavan Maharashtra Open University (YCMOU) and Guglielmo Unimarconi Italian University. Currently, she is working on her YouTube channel "Vidya's Vidya" mentoring doctoral researchers in the areas of Finance, Strategic Management, Organizational Behaviour, Human Resource Management, and Marketing Management. She is an accomplished author, she has written books on Strategic Management, Buyer Behaviour, International Business and Entrepreneurship Management, Faith Economy, contributed chapters to four edited volumes of books, and published over 350 research papers in national and international journals. Her scholarly work has strong visibility and impact, reflected in her robust presence on Google Scholar, Research Gate, Vidwan etc. Her research in all fields of management studies is truly ground-breaking. The rigor and depth of her knowledge have set a new standard in our field of management studies.

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