Six Sigma for Financial Professionals
Wiley | 2003 | 320 pages | ISBN: 0471459518 | 1.05 MB | PDF
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
* Products and services
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.