Six Sigma for Financial Professionals / Edition 1

Six Sigma for Financial Professionals / Edition 1

by D. H. Stamatis
     
 

With its celebrated success and proven results, the Six Sigma quality improvement methodology has expanded from its origins in the engineering industry to transform a wide variety of businesses, along the way developing a particular focus on customer service and satisfaction. While this evolution may seem to imply a shift of attention to the "ground floor"

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Overview

With its celebrated success and proven results, the Six Sigma quality improvement methodology has expanded from its origins in the engineering industry to transform a wide variety of businesses, along the way developing a particular focus on customer service and satisfaction. While this evolution may seem to imply a shift of attention to the "ground floor" business-client interface, Six Sigma expert D. H. Stamatis draws his readers to the very peak of the organizational chart, explaining how executives and leaders make or break Six Sigma success with their every action and decision. Six Sigma for Financial Professionals is a comprehensive quality improvement guide for the financial industry, explaining the practice of Six Sigma methodology from top to bottom.

Conceiving a vision without creating the plans and effort to achieve it results in "fantasy," the author writes, while advancing plans and effort without an overriding vision produces "drudgery." Only by articulating vision, plans, and effort together can a leader realize "success." Stamatis explains how executives can effectively shift paradigms within their organizations and empower their employees with the authority and motivation to achieve the required goal. He identifies six items that a leader must always keep in mind:

  • Customer orientation
  • Quality culture
  • Accountability
  • Products and services
  • Suppliers
  • Training

These are the critical arenas where an executive’s vision must transform into policy and practice. Stamatis then moves on to analyze Six Sigma principles in every aspect of a financial firm. Specific chapters address the fundamentals of Six Sigma, the DMAIC model, design, project management, statistics, roles and responsibilities, transactional business, and implementation strategy. In each chapter, Stamatis includes case studies that provide leadership road maps and other practical blueprints based on actual business experiences.

The author concludes with a heavy emphasis on training, both in nuts-and-bolts Six Sigma implementation and in cultivating future leaders as part of a vital growth strategy for any firm. No business can afford to ignore the extraordinary promise and potential of quality improvement. Six Sigma for Financial Professionals will prove a powerful guide for CEOs, CFOs, and all corporate leaders.

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Product Details

ISBN-13:
9780471459514
Publisher:
Wiley
Publication date:
08/22/2003
Edition description:
New Edition
Pages:
320
Product dimensions:
6.30(w) x 9.33(h) x 1.11(d)

Table of Contents

Preface.

Acknowledgments.

Introduction.

Chapter 1: Customer Service and Satisfaction.

Typical Tools and Methodologies.

Notes.

Selected Bibliography.

Chapter 2: Overview of Six Sigma.

Q and A.

Notes.

Selected Bibliography.

Chapter 3: DMAIC Model.

Define.

Measure.

Analyze.

Improve.

Control.

Selected Bibliography.

Chapter 4: Design for Six Sigma.

Define.

Characterize.

Optimize.

Verify.

Special Note.

Notes.

Selected Bibliography.

Chapter 5: Project Management.

Project Management for Black Belts.

Team Management.

Change Management.

Orientation.

Strategies for Reviewing and/or Presenting Projects.

Selected Bibliography.

Chapter 6: Six Sigma and Statistics.

Deductive and Inductive Statistics.

Stages of a Sample Study.

Measurement.

Statistical Tools Used in the Six Sigma Methodology.

Notes.

Selected Bibliography.

Chapter 7: Roles and Responsibilities.

Roles and Responsibilities in a Typical Six Sigma.

The DMAIC Model.

Generic Areas for Possible Project Selection.

Areas for Possible Project Selection in the Financial World.

DCOV Model.

Selected Bibliography.

Chapter 8: Six Sigma and Transactional Business: ServiceIndustries.

Why Six Sigma in Transactional Business?

The DCOV Model.

Why DFSS in Transactional Business?

Typical Areas Where Six Sigma May Be Beneficial in the ServiceIndustry.

Project Priority Hierarchy.

Deployment of Six Sigma in Transactional Business: ServiceIndustries.

Note.

Selected Bibliography.

Chapter 9: Implementation Strategy, Training, andCertification.

Six Sigma DMAIC Implementation Strategy.

DCOV Implementation Strategy.

Training.

Typical Cost.

Certification.

Notes.

Selected Bibliography.

Appendix A: Common Abbreviations in Six Sigma.

Appendix B: Core Competencies of Six SigmaMethodology.

Glossary.

Selected Bibliography.

Index.

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