Step 1: Collect and Review Primary Information
February 12, 2025
The relations between India and Pakistan have never really been cordial. Ever, since the Islamic Republic of Pakistan was carved out of British India, the two countries have been at loggerheads. The countries have fought four wars until now, and the disputed territory of Kashmir has been at the centre of three of those wars. […]
In the last couple of years, with the advent of the ongoing global economic crisis, many investors have been looking for newer markets to invest to derive higher returns or maintain their current returns on investment. Concomitant with this trend, marketers are looking beyond the developed Western countries that are saturated for newer growth opportunities. […]
Why India is in The Eye of Perfect Storm With Regards to the Jobs Crises By now, there is a consensus among all experts and other stakeholders that India is in the midst of a severe Jobs Crisis brought about due to several converging and intersecting trends. With Unemployment at a 45 Year High and […]
The recent Cambridge Analytica scandal has ended up putting companies like Facebook in hot water. The common man has now become aware of the fact that companies like Facebook have access to a lot of personal data. They have also become aware of the possibility that Facebook could use let third parties access some of […]
Boeing Corporation which is headquartered in the United States is one of the biggest names in the airline industry. When it comes to the manufacturing of planes, there is an effective duopoly in the global market. Boeing and Airbus are the only two companies in the world which manufacture the jets which are used by […]
Now that we have the problem as well as the goal statement handy, it is time to ensure that these statements are well articulated in the business case.
The management has to choose amongst several possible six sigma projects while granting its resources. The ones that do succeed in getting the resources from the management are ones that have clear cases of compelling value proposition.
Here is more about the business case:
A business case is a document that uses the problem and the goal statements and converts it into a statement of business value. The management might understand that there is a problem and that you have a goal after reading your problem and goal statements. However, is your project solving one of the most urgent problems confronting the organization is what the business case is supposed to convey.
There is nothing which makes a better business case than the ability to make the organization believe that the Six Sigma project will make it reach closer to its strategic objectives
The Six Sigma project is managed by the top management who are concerned with the benefits that your project will provide to the organization. The project must include benefits like cost savings, increased service levels, increased efficiency and the like.
It must also talk about the benefits that will be gained by achieving the goals mentioned in the goal statement. The difference between the two numbers is the business value of the Six Sigma project that is being proposed to be undertaken.
It is the initiative of the process owner that he/she must come up with a case that is easy to understand. This will make it most compelling to the management.
Example: The loss in productivity as a result of employees coming late is $5 per minute per employee. Hence for a 1000 employees (40% of the workforce), the management is losing $5000 per minute for 15 minutes i.e. $75,000 every day.
If the organization thinks saving $75,000 going down the drain is their priority, they will buy in the business case.
Your email address will not be published. Required fields are marked *