Business Strategies For Better Efficiency And Quality!
To constantly face growth, a company needs to scrutinize its problems for better efficiency and quality.
Two of the Most Common And Best Improvement Strategies Are:-
- Six Sigma• Business Process Management(BPM)
What Do You Mean By Six Sigma?
Six Sigma process is where most of the strategies used to produce a product/feature are statistically supposed to be free of flaws. The accuracy is up to 99.9996%. This process helps in identifying and removing defects the reasons that cause defects. Six Sigma comprises of five phases called DMAIC, i.e.-
- Define the problem, the requirements of customer and project goals specifically.• Measure the current process and collect relevant data.• Analyze data to find the cause and effect relationship of the process of errors.• Improve the process to optimize output.• Control the process to restrict problems from reoccurring.
Advantages and Drawbacks Of Six Sigma:
While entirely focusing on the development of a company, Six Sigma can be beneficial with a minimal disadvantages.
Advantages:
- It has high statistical accuracy which leads to usage of techniques with null loopholes or failures. • It looks into the critical to quality issues in a company.• It achieves success by using problem-solving and statistical tools for high efficiency.
Disadvantages:
- Six Sigma focuses on finding and solving one problem at a time; it causes a significant drawback when massive scale problems are to be dealt with.
This is the only problem, but this can be solved by BPM.
What Do You Mean By Business Process Management?
Business Process Management or BPM focuses on improving cooperative performance throughout the organization and not one single area. It uses any combination of processes possible to enhance the company overall. BPM compromises of five phases called DMEMO i.e.-
- Design- Plan a scheme for the betterment of existing problems.• Model- To understand the effectiveness of the plan, various combinations of methods are tested.• Execute- When the plan and model are ready, this step initiates the process to find out whether it’s useful or not.• Monitor- The execution is monitored for performance.• Optimize- The process is examined continuously to figure out any additional errors. Besides this, further improvisations are looked for to get maximum optimization.
Advantages and Limitations Of BPM:
Since it takes care of overall development, BPM can handle more substantial number of problems at a time. This makes the correction and optimization process faster.However, BPM does not have precision as the methods used are chosen randomly and aren’t statistically significant.