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Lean Six Sigma is a synergized managerial concept of Lean and Six Sigma. [5] Lean traditionally focuses on eliminating the eight kinds of waste ("muda"), and Six Sigma focuses on improving process output quality by identifying and removing the causes of defects (errors) and minimizing variability in (manufacturing and business) processes.
In organisational development, performance improvement is an organisational change in which the managers and governing body of an organisation put into place and manage a program which measures the current level of performance of the organisation. It then generates ideas for modifying organisational behaviour and infrastructure which are put ...
A continual improvement process, also often called a continuous improvement process (abbreviated as CIP or CI), is an ongoing effort to improve products, services, or processes. [1] These efforts can seek "incremental" improvement over time or "breakthrough" improvement all at once. [2] Delivery (customer valued) processes are constantly ...
PDCA. The plan–do–check–act cycle. PDCA or plan–do–check–act (sometimes called plan–do–check–adjust) is an iterative design and management method used in business for the control and continual improvement of processes and products. [1] It is also known as the Shewhart cycle, or the control circle / cycle. Another version of ...
Six Sigma (6σ) is a set of techniques and tools for process improvement.It was introduced by American engineer Bill Smith while working at Motorola in 1986. [1] [2]Six Sigma strategies seek to improve manufacturing quality by identifying and removing the causes of defects and minimizing variability in manufacturing and business processes.
Performance improvement plans, common at large companies, are a way to formally tell workers they need to improve, and being put on a PIP is commonly understood as a step toward termination.
Image source: The Motley Fool. Plug Power (NASDAQ: PLUG) Q3 2024 Earnings Call Nov 12, 2024, 8:30 a.m. ET. Contents: Prepared Remarks. Questions and Answers. Call ...
Focused improvement can also be defined in simpler terms as a process that identifies the systems problems and then modifies the whole system in order to find the most cost effective, time saving and least disruptive solutions in order to optimize the system. "Focused Improvement is the process of applying systematic problem solving methods to ...