The Ugly Face of Contract Farming
Contract farming has been hailed by many experts as the perfect economic arrangement between farmers and companies. Corporations like Monsanto, McDonalds, Starbucks and KFC have become champions in the use of contract farming. Companies claim that it is a beautiful arrangement that cuts out non value adding middlemen and therefore increases the prosperity of the […]
Business Process Re-Engineering – Meaning, its Need and Technology
Hammer and Champy’s concept of Business Process Re-Engineering depends on harnessing technology to optimize processes as its main driver. To understand why technology is imperative for BPR, let’s first review what BPR does. What is BPR? “BPR is the fundamental rethinking and radical redesign of business processes to achieve dramatic improvements in critical contemporary measures […]
Looking beyond BRICS for the Next Economic Hotspots
Looking Beyond BRICS: The MINT Grouping The BRICS or the acronym given to the grouping of Brazil, Russia, India, China, and South Africa in so far as promising economic growth is concerned, has now reached a stage where global investors are on the lookout for the next emerging economic hotspots. Indeed, for much of the […]
The Mouse Charmers: A Case Study of the Indian Information Technology Industry
From Snake Charmers to Mouse Charmers: The Changing Perceptions about Indian IT It would not be an exaggeration to say that India is an IT (Information Technology) powerhouse. Indeed, the Indian IT Industry is globally recognized for its ability to get quality work done at competitive rates and for its efficiency in churning out Millions […]
Letter of Credit – Meaning and Different Types of LC
International trade between an Exporter and Importer would entail multiple transactions in terms of documentation exchange, physical cargo movement as well as settlement of payment which have to be clearly defined and setup in order to ensure smooth business transaction. Over the years international trade has established various methods and payment mechanisms that are accepted […]
However before the end of the define phase a complete team for Six Sigma project emerges. Their roles are clearly defined and responsibilities are allocated to ensure smooth functioning of the project at later stages.
Project Schedule: It is in the “Define” phase that the team gives an appropriate end date to each of the stages in the DMAIC Six Sigma methodology process. Also the end date of the project is decided and the criterion for judging the project as a success or a failure is also decided.
Well-begun is half done, they say. Six Sigma DMAIC methodology ensures that you begin the project well. It is for this reason that an exhaustive define phase has been created with many deliverable documents that force you to think in different ways about your project. The end result of the Define phase is a considerably insightful team working dedicatedly towards a solution.
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