Step 1: Collect and Review Primary Information
February 12, 2025
The Best of Times, The Worst of Times The global economy is growing, and almost all major economies of the world are healthy and growing at a good clip. Also, technology has made the lives of people around the world easier and has contributed to creating an array of diversions and distractions in the form […]
In the past few years, technology companies have been driving the boom in the financial markets. The FAANG companies (Facebook, Amazon, Apple, Netflix, and Google) have seen their valuations increase by leaps and bounds. However, COVID-19 is causing a worldwide stock market collapse. It would be fair to say that the pandemic is not affecting […]
The analyze phase is one of the most dreaded phases in the Six Sigma methodology. There are common assumptions made that this phase involves a lot of high level statistical analysis. No wonder that most trainings are scheduled before analyze phase. The Six Sigma team members want to refresh their concepts before they actually get […]
IT systems are the most sensitive systems that are prone to failure and disaster. The risks that can cause breakdown of the systems and loss of data are many. As the data is something that is very important for the existence and continuity of the business, every Organization needs to have a proper Disaster Recovery […]
What is Demographic Dividend and Demographic Deficit ? We often hear the terms Demographic Dividend and Demographic Deficit being written about and spoken about by experts and economists. These terms are mentioned in the context of how economies in the future can manage either the rising percentage of youth among their population or deal with […]
A six sigma team is meant to concentrate on the solutions and not on the problems. It is for this reason that once the problem has been identified, it must be quickly turned in to a goal statement that will guide the execution of the project.
The Problem statement helps us identify and zero down to the problem at a very narrow level. The Six Sigma problem gives structure to our thinking. The details and measurements presented in the problem must be noted. The ideal state of affairs must be thought about. Then the ideal state of affairs must be written down containing the same details and measurements as in the original goal statement. Here is a method to do so
There is an acronym for setting goals that work. It is called SMART goals. Research has shown that goals with SMART characteristics tend to succeed more than others. Here is what it means:
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