Executive Pay: The Curious Case of Carlos Ghosn’s Arrest
February 12, 2025
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Are Markets Really Efficient in Delivering Optimal Outcomes for All Stakeholders? Are Free Markets really “free” in the real world? Are market forces allowed to deliver efficient outcomes or do governmental and private entities interfere in the workings of markets and distort the outcomes? Moreover, does Crony Capitalism introduce bias against the smaller players and […]
A surprising number of projects begin without considering the human resource aspect in mind. If a Six Sigma project were to be initiated without a project charter or without an explicit data collection plan, it would be considered lunatic behaviour. However, the same cannot be said about the Six Sigma team. Countless Project leads have […]
While the system of debit and credit is the foundation for maintaining balance and accuracy, it can often feel overwhelming for beginners and even for clerical staff who handle day-to-day bookkeeping. The Golden Rules of Accounting are designed to simplify these concepts into actionable principles that anyone can use. These rules break down the most […]
As for superficial attempts to practice CSR, the term “green washing” gives an instance of how the aims of CSR are subverted. Green Washing refers to the practice of the corporate spin employed by a company in declaring itself to promoting environmentally friendly policies whereas in reality, the company does not live up to the […]
The Six Sigma project is not complete until the concerned personnel who have to operate the process have the know-how to do so.
Many Six Sigma projects have failed because the project team was overjoyed at achieving success. However, one must not forget that improvements are only on paper until they are implemented. And there exist a wide variety of organizational reasons that a wonderful Six Sigma project may not be implemented with the same degree of efficiency.
Hence conducting knowledge transfer is an important part of the Six Sigma project and must be done carefully. Some advice about how to navigate this part of the project has been mentioned below:
Key Points to take into Account while Conducting Knowledge Transfer:
Chronology: The knowledge transfer process must be iterative and must be chronological. This simply means that instead of training everyone at one go, the first step should be to train the senior and middle level management. Once this has been done, the executives and the supervisors must be trained and the upper management must be involved in the exercise.
When the upper management train the lower rungs, they refresh their training. This is important because the lower rungs will first reach their immediate management if something in the process goes wrong. Hence the upper management must have a fair idea regarding how the new process works.
Buy-In: Before the knowledge transfer process is initiated the Six Sigma project team must create a buy in for the solution. This is because many times, workers feel that the improved methods are designed to eliminate their jobs. However, in reality they have been designed to assist the workers in their jobs. This must be communicated to them and it must be ensured that the workers agree to this. Or else there is a chance of a hostile reaction and the entire Six Sigma project might fail because of deliberately improper execution.
Budget: Before the training begins, the Six Sigma project team must give the process owner a budget required for training. This budget must include the resources required. Typically the trainings must be held on a rotation basis, so that the normal working of the organization is not disrupted.
The contents of the knowledge transfer cannot be generalized. They will vary depending on the process that was executed. However some of the major components of the training are as follows:
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