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define business improvement
the creation of an improvement oriented culture and management process that utilizes improvement experts and proven methodologies/tools to achieve superior levels of performance.
Why do organizations implement a formal ongoing business improvement process?
higher project success rates and deliver better overall performance results
What are the 3 core elements of business improvement?
- 1. role of leadership
- 2. experts and training
- 3. proven methodologies/tools
what are the role of experts?
- business improvement leader
- master black belt
- black belt
- green belt
what are some proven methodologies?
define six sigma
uses advanced statistical methods to improve quality by reducing defects by using the DMAIIC method.
what is the goal of lean?
to eliminate all waste in value creation process.
what is the design for six sigma?
design new processes by using voice of the customer and proper systems engineering.
Business Process Reengineering (BPR)
involves radically redesigning and streamlining how an activity is performed, with the intent of achieving quantum improvements in performance.
what are the 6 types of risks all businesses face?
- 1. operational
- 2. financial
- 3. strategic
- 4. market
- 5. geopolitical
- 6. catastrophic
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