Step 1: Collect and Review Primary Information
February 12, 2025
The previous article in the module introduced the global economic crisis with a brief overview of the causes. This article looks at the causes of the global economic crisis in depth. For starters, the global economic crisis carries a distinct “Made in the USA” tag which means that the origins of the crisis are to […]
The mention of the Measure phase of the Six Sigma module brings into mind pictures of statisticians performing complex operations on data to derive meaning out of it. While this is true to some extent, the complexity of the process is highly over-rated. True, that there is a tremendous amount of statistics involved. However, in […]
The Fortune 100 list of companies comprises of the top 100 corporations in the world in terms of size, revenues, and market capitalization. The list that is published annually gives a peek into the top corporations that run the global economy. Indeed, many commentators have stated that the top 10 corporations in the world are […]
We often hear the word globalization in many contexts and repeated frequently as a concept to denote more trade, foreign companies and even the ongoing economic crisis. Before we launch into a full-fledged review of the term and its various manifestations, it is important to consider what exactly we mean when we say globalization. Globalization […]
Introduction Organizations are very similar to living Organisms. They too go through a definite life cycle and different stages of development. As in life, change is the only constant factor especially in the operations of each and every organization. Organizations are constantly engaged in the process of changing and fine tuning their internal processes in […]
Metrics are numbers that tell you important information about a process under question. They tell you accurate measurements about how the process is functioning and provide base for you to suggest improvements.
It is said that only when one can express their understanding in terms of numbers is the understanding satisfactory and meaningful.
Usually measuring results with one metric is not a good enough strategy. A combination of metrics is used to measure the effectiveness of the process.
In the end it is only an understanding of both types of metrics and what they suggest can meaningful decisions be made about the process is question.
Here are some important functions that metrics fulfil in an organization.
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