Business Excellence Module Essay Example | Topics and Well Written Essays - 2500 words - 1

Business Excellence Module - Essay Example Modern organizations are undergoing turbulent economic times in today’s world and for their survival; each company should be ahead of the set benchmarks. Breakthroughs in technology and performance excellence are the most dominant requisites for a company to succeed. This business improvement methodology focuses on improvement of customer satisfaction. However, most of the firms today fall short of this important requirement. Six Sigma includes reduction of defects, reduction of cycle time and ensuring customer satisfaction. To achieve process improvement and variation reduction, this methodology attempts to implement the measurement based strategy. The methodology is hinged on two models, that is, DMAIC (Define, Measure, Analyze, Design and verify) process and DMADV process. The first process focuses on existing processes that fall short of set specifications by putting more emphasis on incremental improvement. On the other hand, the former process tends to develop new proces ses. Six Sigma methodologies ensure application of structured methodology and process metrics to opportunities directly related to organizational goals. In addition, this methodology helps predications to model their business strategies to achieve critical improvement efforts, speed business results, accumulate resources to take advantage of the available opportunities and lastly to oversee that improvements are sustained. The financial metrics of Sigma model includes activity-based costing cost of poor quality amongst others. On the other hand, its contractual metrics comprises mean time taken to repair, cycle and lead time data, and the total amount of rework hours among others. However, it should be noted that collecting and computing of sigma metrics is not a guarantee for a company’s success, and thus, for a company to be successful,  it should apply these metrics in innovative means to solve the clients’ problems.