...of TQM 3 Total Quality and Six Sigma 5 Six sigma DMAIC process elements 6 Application where Six sigma is better 6 Difference between Six Sigma & Total Quality Management 6 Reasons for adopting Total quality Management 7 Accurate time to adopt Total Quality Management (TQM) 8 Total Quality Management Tools 9 Principles of Total Quality Management 11 1. Customer centric approach 12 2. Employee involvement 12 3. Process approach 13 4. Integrated system 13 5. Strategic & systematic approach 13 6. Fact-based decision making 14 7. Continual improvement 14 8. Communication 14 The Concept of Continuous Improvement by Total Quality Management 14 Benefits of Total Quality Management in an Organization 16 Conclusion 17 References: 18 Introduction Total Quality Management (TQM) is a philosophy with the enthusiasm of accomplishing the overall performance of the organization. This globally recognized strategic technique has several benefits that make TQM trustworthy and applicable toward the business people. These benefits may include improving consumer satisfaction, focusing on employee motivation, reducing waste and improving overall performance of the organization. TQM is a problem solving technique that particularly focuses on continuous improvement of the quality of product, process and service. In this approach the management and employee can work together for the overall improvement by using quality and management tool aimed at increasing business...
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...DESCRIPTION This course focuses on creating the value proposition as a driver of sustainable competitive advantage. Topics include translating key emerging trends into business opportunities; strategic challenges of global expansion; opportunities and constraints posed by regulatory change; competitor intelligence; scenario planning/planning for multiple futures; maximizing core business value; differentiating the value proposition; distribution channel development and integration; tailoring the value chain; building successful strategic alliances; and off-shoring models and approaches. Week 1 - Topic 1: Mission, Vision, and Values Objectives Distinguish between strategy and tactics. Explain the essential components of the strategic management process. Analyze the relationship among leadership, culture, stakeholder interests, and strategic outcomes. Create vision, mission, and values statements. Materials MIND MAP Mind Map Concept Outline EBOOK EBOOK COLLECTION: Chapter 1 - Pearce & Robinson. (2005). Strategic management (9th ed.). New York: McGraw-Hill. EBOOK COLLECTION: Chapter 2 - Pearce & Robinson. (2005). Strategic management (9th ed.). New York: McGraw-Hill. EBOOK COLLECTION: Chapter 10 - Pearce & Robinson. (2005). Strategic management (9th ed.). New York: McGraw-Hill. ARTICLES ARTICLE: Required Articles for Week One Assessment Mission, Vision, and Values Paper Submit a 700-word to 1,050-word...
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...(i)Executive Summary This project discusses the Strategic Management process which Robbins and Coulter (2007:240) define as” A six –step process that encompasses strategy planning, implementation, and evaluation”. The project is based on the strategic management of Barclays Bank. The main goal of Barclays bank is to satisfy people’s needs and offer them the best service. According to Jones and George (2008:308), the SWOT analysis is “A planning exercise in which managers identify organizational strengths (s) and weaknesses (W) and environmental opportunities (O) and threats (T)”. Strengths might include adequate financial resources, economies of scale, and proprietary technology. Weaknesses include lack of strategic direction, obsolete facilities, and lack of managerial depth and talent. Whereas, Opportunities might include the possibility of serving additional customers in the face of weakening competition, or the chance to enter foreign markets due to falling trade barriers. Threats might include the likely entry of new lower-cost foreign competitors, rising sales substitute products, and slowing market growth (Dessler, 2004). Four important features that lead to the success of Barclays bank are: High quality products, team spirit between the bank’s employees, wide spread global presence and strong management with well educated managers. Although Barclays bank is a highly qualified bank, it still lacks important services and offers like Islamic banking and Drive...
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...Step One: Assessment Step One of the scorecard building process starts with an assessment of the organization’s Mission and Vision, challenges (pains), enablers, and values. Step One also includes preparing a change management plan for the organization, and conducting a focused communications workshop to identify key messages, media outlets, timing, and messengers.Step Two: Strategy In Step Two, elements of the organization’s strategy, including Strategic Results, Strategic Themes, and Perspectives, are developed by workshop participants to focus attention on customer needs and the organization’s value proposition.Step Three: Objectives In Step Three, the strategic elements developed in Steps One and Two are decomposed into Strategic Objectives, which are the basic building blocks of strategy and define the organization's strategic intent. Objectives are first initiated and categorized on the Strategic Theme level, categorized by Perspective, linked in cause-effect linkages (Strategy Maps) for each Strategic Theme, and then later merged together to produce one set of Strategic Objectives for the entire organization. | | | Step Four: Strategy Map In Step Four, the cause and effect linkages between the enterprise-wide Strategic Objectives are formalized in an enterprise-wide Strategy Map. The previously constructed theme Strategy Maps are merged into an overall enterprise-wide Strategy Map that shows how the organization creates value for its customers and stakeholders...
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...September 29, 2014 Paul Moore Decision Making Analysis “Management is the process of working with people and resources to accomplish organizational goals.” (Bateman & Snell) There are many levels of management and with that comes many different forms of responsibility. One of the most important roles of management is planning. Planning is done in order for organizations to meet their goals and is necessary to keep a business thriving. There are six steps involved in the planning process and four different types of planning. The Planning Process There are six steps to the planning process as described in Management Leading & Collaborating in a Competitive World. Step 1.) Identify & diagnose the problem. A manager can come to the conclusion that a problem exists by looking at what is happening now and comparing it to several different things. They may compare it to a competitor, past performances or to the way they wish performance to be in the future. Once the problem has been identified step 2 begins: to generate alternative solutions. In this step, ideas are thought of on how to resolve the problem. Creativeness is encouraged in this step. Step 3.) Evaluate alternatives. This step is used to determine the consequences of the solution. Which alternative is best? Which one will be most beneficial in all areas? Step 4.) Make a choice. This step is often hard for managers to make. Once all the possible outcomes...
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...| Quality management techniques | Assignment II | Deepali Jain Roll No. 303 MBA Tech Manufacturing | Quality Management Techniques Quality management can be considered to have four main components: quality planning, quality control, quality assurance and quality improvement. Quality management is focused not only on product/service quality, but also the means to achieve it. Quality management therefore uses quality assurance and control of processes as well as products to achieve more consistent quality. For Factual approach to decision making quality improvement techniques are used. Effective decisions are always based on the data analysis and information. PDCA cycle PDCA (plan–do–check–act) is an iterative four-step problem-solving process typically used in business process improvement. It is also known as the Deming circle, Shewhart cycle, Deming cycle, Deming wheel, control circle or cycle, or plan–do–study–act (PDSA). Meaning PLAN Establish the objectives and processes necessary to deliver results in accordance with the expected output. By making the expected output the focus...
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...out by discussing the POLC levels of management or as they are also known as, the four levels of management. The POLC system is the back bones of how to manage. POLC stands for planning, organization, leading, and control. In week three we will be taking an in depth look into the first step of the POLC method, which is planning. Week four will be about organization, week 5 about leading, and week 6 will conclude our learning of the POLC method by learning the last step, which is control. The three learning objectives for this week will be; learning the basic steps in the planning process, finding the relationship between strategic, tactical, and operational planning, and learning the elements of a basic SWOT analysis. Everything that we discuss, learn, or write about will be about these three learning objectives. We will be introduced to a case about a business called Sandwich Blitz Inc. run by Dalman and Lei. We will sometimes need to read about their management issues and then use the concepts we are learning to advise them of how to solve the problem they are having in their business. This may be a fake business but the challenge they face are common issues that we may someday face when trying to manage our own businesses. This week our discussion board and our assignment are about Dalman and Lei. Goals are the desired end results. But plans are the steps needed to actually reach those goals. There are six steps in the planning process. First you must analyze the situation...
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...Operational Effectiveness and Efficiency via Lean Thinking Robert Moyler California Miramar University December 18, 2013 Abstract The purpose of this study is to explore the lean thinking system across operational processes of organizations. This paper hopes to examine lean thinking methods and some alternative approaches to discovering the most effective process and best practices for efficiency across multiple layers of any organization as it transforms raw materials into a finished product. In addition, this paper will explore how senior level executives can deploy lean thinking systems across its operations and internal processes to drive end profits and increase margins for an organization. Through articles, research, and evaluating previous studies to define and determine the best lean thinking to produce a strong value oriented product or service that produces positive financial results. This in turn, will create an effective yet efficient atmosphere that is all encompassing benefiting the organization, consumers, and the environment in which the organization is apart of. Operational Effectiveness and Efficiency via Lean Thinking Introduction Due to turbulent economic times and stronger competitive forces in the market place, it has become increasingly harder for firms or organizations to operate effectively and efficiently in the era we live in today. For this reason, this paper weighs heavily on lean thinking systems to arrive at effective and efficient...
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...performance management process, suggest the key processes that DSM needs to provide within its system in order to successfully link its key success factors (KSF). Provide a rationale for your suggestions. Dutch State Mines (DSM) originated in 1902 as a state owned mining company. The company has continued to evolve from petrochemicals business to a commodity chemicals business and now a specialties company. Its current fields include health, nutrition, and materials with a net worth of $9 billion annually. Similar to many other organizations that have withstood the test of time, DSM endured constant reinvention and up until the early 90s operated a traditional strategic planning process that included planning and budget cycles. Eventually this outdated process became too much of a routine and needed to be revamped. The company recognized that their strategic development was of poor quality, the link between strategy and performance wasn’t clear, and its strategies mainly focused on cost reduction. To enhance the quality of strategy development process, a new approach called the Business Strategy Dialogue (BSD) was introduced. This led to Corporate Strategy Dialogue (CSD) which proposed improvement of the corporate development processes. This initiative was part of the “Vision 2005: Focus and Value” campaign that was initiated to modernize the organization’s development processes to ensure alignment between strategies. An effective performance management process links the goals...
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...Journal of Case Research in Business and Economics Application of Six-Sigma in finance: a case study A. Ansari Seattle University Diane Lockwood Seattle University Emil Thies Zayed University Batoul Modarress Zayed University Jessie Nino Seattle University ABSTRACT In recent years, companies have begun using Six Sigma Methodology to reduce errors, excessive cycle times, inefficient processes, and cost overruns related to financial reporting systems. This paper presents a case study to illustrate the application of Six Sigma Methodology within a finance department. Specifically, the case relates to the Continuing Account Reconciliation Enhancement project undertaken by the finance department of a major U.S. defense contractor. The goal of the project was to streamline and standardize the establishment and maintenance of costing and planning for all business activities within the current financial management process. The Six Sigma implementation resulted in a significant reduction in the average cycle time and cost, per unit of activity, needed to produce the required financial reports. Key Words: Six Sigma, Process Management, Quality Management, Finance Application of Six-Sigma, Page 1 Journal of Case Research in Business and Economics INTRODUCTION In 1987, Motorola developed and organized the Six Sigma process improvement Methodology to achieve “world-class” performance, quality, and total customer satisfaction. Since that time, at least 25% of the Fortune 200, including...
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..._____________________________________________________________ c 1 Introduction __________________________________________________________________ 1 2 Background __________________________________________________________________ 2 2.1 Background of Origin Energy ___________________________________________________ 2 3 Literature Review________________________________________________________________ 3 3.1 Supply Chain Management _____________________________________________________ 3 3.2 Quality Improvement Models and Gap Analysis ____________________________________ 4 3.3 Lean and Six Sigma Technology ________________________________________________ 5 4 Discussion & Analysis ____________________________________________________________ 6 4.1 Supply Chain of Origin Energy _________________________________________________ 6 4.2 SWOT Analysis for Origin Energy _______________________________________________ 7 4.3 Supply Chain Operations Reference (SCOR) Model _________________________________ 9 4.4 Conceptual Improvement Model for Supply Chain Management ______________________ 12 4.4.1 Introduction ____________________________________________________________ 12 4.2.2 Assumptions: ___________________________________________________________ 13 4.3.3 Supply Chain Conceptual Improvement Model (SCCIM) _________________________ 13 4.2.4 Key Benefits of the model _________________________________________________ 16 4.2.5 Validation of the model ___________________________________________________...
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...SUMMARY – CHAPTER 8 The Importance of Strategic Management ✓ Define strategic management, strategy, and business model. ✓ Explain why strategic management is important. Strategic management is what managers do to develop the organization’s strategies. Strategies are the decisions and actions that determine the long-run performance of the organization. A business model is a strategic design for how a company intends to profit from its strategies, work processes, and work activities. Strategic management is important for four reasons. First, it makes a difference in how well organizations perform. Second, it’s important for helping managers cope with continually changing situations. Third, strategic management helps coordinate diverse divisions, departments, functions, and work activities, and keeps all focused on achieving the organization’s goals. Finally, it’s important because it’s involved in many of the decisions that managers make. The Strategic Management Process ✓ List the six steps in the strategic management process. ✓ Describe what managers do during external and internal analyses. ✓ Explain the role of resources, capabilities, and core competencies. ✓ Define strengths, weaknesses, opportunities, and threats. The six steps in the strategic management process are: (1) identify the current mission, goals, and strategies; (2) do an external analysis; (3) do an internal analysis – steps 2 and 3 collectively are known as SWOT...
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...Contents I. APP Pharmaceuticals 3 II. Background/Overview of APP Pharmaceuticals 3 III. Introduction to the Problem 4 IV. Literature Review -Philosophy, Culture and Strategy 7 V. Recommendation/Analysis -Philosophy, Culture and Strategy 9 VI. Literature Review/Analysis – Adoption and Driving Strategy Down into the Organization. 10 VII. Recommendation –Balanced Score Card 11 VIII. Recommendation/Analysis – Total Quality Management 15 IX. Reflection 24 X. Bibliography 26 I. APP Pharmaceuticals APP Pharmaceuticals (APP) strives to lade in the United States and Canada to be a leader for injectable pharmaceuticals. The company, philosophy is to provide excellent products and services by hiring dedicated and committed employees to meet our customers’ needs. Our primary goal is to improve the health and care of patients who use our pharmaceutical products. II. Background/Overview of APP Pharmaceuticals APP was established in 1996 and has quickly become one of the industry leaders in providing one stop shopping for very commonly used products to very special products to meet the needs of a wide range of patients. There market produces 142 products in over 400 doses and formulations. A few of the clinical areas they cover are: Cardiac Care, Dialysis, Emergency, Intensive Care, OB/GYN, Operating Rooms, Oncology, Orthopedics, Pediatrics, Psychiatry and Radiology. (APP Pharmaceuticals, unkown) APP is the number three generic injectable supplier in the United States...
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...toward the vision? If you need to make hard choices among competing programs and services for tight budget dollars, if you are looking to increase program and service effectiveness and improve operational efficiency and performance, and if you need to become a more strategy focused organization then a balanced scorecard may be the best planning and management framework for your organization. This article describes how to build a strategy-based balanced scorecard system, and shares some lessons learned from developing strategy-based scorecard systems in dozens of government and nonprofit organizations in 22 countries and from training over 5000 people from 150 organizations. “Balanced scorecard” means different things to different people. Balanced scorecards have evolved over the past decade from dashboard systems that simply measure financial and non-financial performance, to holistic, strategic planning and management systems that help organization’s plan strategically, and manage and track strategy execution. Strategy-based balanced scorecards align the work people do with organization mission, vision and strategy, and communicate strategic intent internally to employees and externally to stakeholders. In strategy-based scorecards, performance...
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...Strategic Management Process Paper Natasha Barnett MGT/498 May 30, 2012 Luvi Mendoza Introduction When a company is trying to achieve a goal for the company this always involves planning. To be able to succeed to have to map out how you plan to get there and what it will take to make it happen. Many companies will use the Strategic Management Process for each department of the company as each department as their own goals to meet and then there will be a process for the company as a whole. Within the Strategic Management Process there are seven steps and the steps consist of: The Mission, Business and Operation analysis, Develop and select strategic options, Establish strategic objectives, Strategy Execution Plan, Establish Resource Allocations, and Execution Review. These steps all play an important role and have a reason to be in the steps required to reach one’s goals. Primary Components of a Strategic Management Process Every component plays its own role and each role is very important in every plan. When making out a plan you have to first start with the Mission, which is basically what the end result that they are shooting for is. The mission would be information that has been obtained either from employees, data, customers, etc… Any and all organizations have to have a mission and a vision for their company for their customer and stakeholders to know where the company plans to go. Knowing what your completion is and also knowing what your company is good at...
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