Knowledge management and enterprise risk management implementation in financial services

This paper starts from the viewpoint that enterprise risk management is a specific application of knowledge in order to control deviations from strategic objectives, shareholders’ values and stakeholders’ relationships. This study is looking for insights into how the application of knowledge management processes can improve the implementation of enterprise risk management. This article presents the preliminary results of a survey on this topic carried out in the financial services sector, extending a previous pilot study that was in retail banking only. Five hypotheses about the relationship of knowledge management variables to the perceived value of ERM implementation were considered. The survey results show that the two people-related variables, perceived quality of communication among groups and perceived quality of knowledge sharing were positively associated with the perceived value of ERM implementation. However, the results did not support a positive association for the three variables more related to technology, namely network capacity for connecting people (which was marginally significant), risk management information system functionality and perceived integration of the information systems. Perceived quality of communication among groups appeared to be clearly the most significant of these five factors in affecting the perceived value of ERM implementation.

Aplicación de la metodología Six Sigma para solucionar problemas de calidad en una empresa metalmecánica

En la actualidad muchas compañías enfocan sus esfuerzos en la chequera del cliente generando con esto una cortina de humo al interior de la empresa que hace que se descuiden los costos, se conviva con actividades que no agregan valor y se desconozcan las causas de los principales problemas de calidad que afectan al cliente. Este es el caso de la compañía metalmecánica objeto de esta investigación, la cual venía sobrellevando altos niveles de inventarios, reprocesos, problemas de calidad, falta de corresponsabilidad del personal, y otras situaciones que la estaban dejando vulnerable ante la competencia. Este fue el motivo que inspiró esta investigación en aras de validar una metodología de mejora continua para identificar, analizar, proponer, evaluar y reducir los costos de no calidad y sus implicaciones, de una forma ordenada, rigurosa y disciplinada. Posterior a la implementación del plan de acción los resultados no se hicieron esperar y la compañía mejoró su servicio al cliente sin incurrir en excesos de inventario, al igual que disminuyó sus sobrecostos de producción, los cuales eran generados en gran medida por problemas de calidad. Pero lo más significativo es que asimiló que esta metodología es un proceso continuo que no puede parar y que todo el personal de la empresa debe estar implicado.

The impact of Six Sigma in the performance of a Pollution Prevention program

The diffusion of Pollution Prevention faces organizational barriers as for instance resistance to change, insufficient support from decision-makers, unclear project leadership, insufficient employee accountability and inflexible organizational structures. To understand how to overcome such barriers, the performance of a Pollution Prevention program of a multinational corporation is analyzed. The quantitative analyses of 2096 Pollution Prevention projects conducted between 1995 and 2007 support the conclusion that the performance of the Pollution Prevention program increased after the implementation of the Six Sigma program. Moreover, the analyses of 1906 Pollution Prevention projects and 31,133 Six Sigma projects for cost reduction in 27 countries indicate that in countries where the implementation of Six Sigma is more expressive, pollution is prevented more than in countries with less expressive Six Sigma implementation. In fact, the Six Sigma implementation improved the organizational capability for data based project management. Therefore, comparing six years before and six years after the Six Sigma implementation, the total number of Pollution Prevention projects recognized increased 6.9 times and the total amount of pollution prevented increased by 62%. The qualitative analysis describes how the Six Sigma program interacts with the Pollution Prevention program in the studied company. (C) 2009 Elsevier Ltd. All rights reserved.

An approach for automated service selection and ranking using services choreography

In today’s highly competitive market, it is critical to provide customers services with a high level of configuration to answer their business needs. Knowing in advance the performance associated with a specific choreography of services (e.g., by taking into account the expected results of each component service) represents an important asset that allows businesses to provide a global service tailored to customers’ specific requests. This research work aims at advancing the state-of-the-art in this area by proposing an approach for service selection and ranking using services choreography, predicting the behavior of the services considering customers’ requirements and preferences, business process constraints and characteristics of the execution environment.

Definition, implementation and management of m.commerce apps and services

This report aims to analyse the Definition, Implementation and Management of Vodafone Portugal’s Apps and Services, so that possible ways of improvement can be suggested. To do so, Vodafone’s strategy regarding the development/ implementation of specific Apps and Services, as well as the strategy of its competitors are going to be analysed. This analysis is going to be complemented with insights from some key-persons of Vodafone’s Consumer Business Unit team in Portugal. Findings suggest that Vodafone is ahead of its competitors when it comes to developing the most innovative Apps and Services, but there is always room for improvements, especially when it comes to communication.

Implementation of a lean six sigma project in a production line

Companies from the motorcycles components branch are dealing with a dynamic environment, resulting from the introduction of new products and the increase of market demand. This dynamic environment requires frequent changes in production lines and requires flexibility in the processes, which can cause reductions in the level of quality and productivity. This paper presents a Lean Six Sigma improvement project performed in a production line of the company's machining sector, in order to eliminate losses that cause low productivity, affecting the fulfillment of the production plan and customer satisfaction. The use of Lean methodology following the DMAIC stages allowed analyzing the factors that influence the line productivity loss. The major problems and causes that contribute to a reduction on productivity and that were identified in this study are the lack of standardization in the setup activities and the excessive stoppages for adjustment of the processes that caused an increase of defects. Control charts, Pareto analysis and cause-and-effect diagrams were used to analyze the problem. On the improvement stage, the changes were based on the reconfiguration of the line layout as well as the modernization of the process. Overall, the project justified an investment in new equipment, the defective product units were reduced by 84% and an increase of 29% of line capacity was noticed.

Fakenham Weight Management Service

Tier 3 weight management service for clients with BMI>40, or >30 plus co-morbidities. The service aims for 5% weight loss in 6 months, and to increase fruit and vegetable intake and activity levels. It also aims to set up hub and spoke model with 3 satellite sites to deliver local services in a rural area, and to develop a North Norfolk Obesity Pathway and to make only appropriate bariatric surgery referrals as per East of England guidelines.

Weigh2go: A Peripatetic Level 1 Weight Management Service

The aim of this intervention is to increase the accessibility of appropriate evidence based support to people who are clinically obese to enable them to make lifestyle changes that will lead to weight loss. Objectives1. Identify patients whose lifestyle put them at risk of obesity and poor health outcomes and provide them with advice and support along with signposting to specific services and activities. 2. Identify patients who are overweight or obese and offer them a structured multi-component programme of support for them to loose weight. 3. Through the use of software collect data to monitor outcomes at individual and practice levels.

Improvement of Operational Efficiency effectiveness (OEE) using Six Sigma DMAIC Methodology — Case Bottomer line AD2378

Overall Equipment Effectiveness (OEE) is the key metric of operational excellence. OEE monitors the actual performance of equipment relative to its performance capabilities under optimal manufacturing conditions. It looks at the entire manufacturing environment measuring, in addition to the equipment availability, the production efficiency while the equipment is available to run products, as well as the efficiency loss that results from scrap, rework, and yield losses. The analysis of the OEE provides improvement opportunities for the operation. One of the tools used for OEE improvement is Six Sigma DMAIC methodology which is a set of practices originally developed to improve processes by eliminating defects. It asserts the continuous efforts to reduce variation in process outputs as key to business success, as well as the possibility of measurement, analysis, improvement and control of manufacturing and business processes. In the case of the Bottomer line AD2378 in Papsac Maghreb Casablanca plant, the OEE figures reached 48.65 %, which is below the accepted OEE group performance. This required immediate actions to achieve OEE improvement. This Master thesis focuses on the application of Six Sigma DMAIC methodology in the OEE improvement on the Bottomer Line AD2378 in Papsac Maghreb Casablanca plant. First, the Six Sigma DMAIC and OEE usage in operation measurement will be discussed. Afterwards, the different DMAIC phases will allow the identification of improvement focus, the identification of OEE low performance causes and the design of improvement solutions. These will be implemented to allow further tracking of improvement impact on the plant operations.

Analysis of value drivers behind CRM adoption projects in financial services industry

This research is focused on deriving framework for the value thought for from the Customer Relationship Management system adopted by an enterprise operating in the financial services industry. It will analyze existing academic work to derive a conceptual value model, while applying secondary industry specific case studies provided by the CRM vendors to check the validity and commonality of these drivers. Furthermore this work locates the variances and correlation between value thought for from CRM system, scope of enterprise operations and size of the enterprise.

The application of Process Management for reliability enhancement of the Taguchi method

The concept of Process Management has been used by managers and consultants that search for the improvement of both operational or managerial industrial processes. Its strength is in focusing on the external client and on the optimization of the internal process in order to fulfill their needs. By the time the needs of internal clients are being sought, a set of improvements takes place. The Taguchi method, because of its claim for knowledge share between design engineers and people engaged in the process, is a candidate for process management implementation. The objective of this paper is to propose that kind of application aiming for improvements related with reliability of results revealed by the robust design of Taguchi method.

Lean Six Sigma in a Manufacturing Lead Time Improvement Project

The objective of this research is to demonstrate the use of Lean Six Sigma methodology in a manufacturing lead time improvement project. Moreover, the goal is to develop working solutions for the target company to improve its manufacturing lead time. The theoretical background is achieved through exploring the literature of Six Sigma, Lean and Lean Six Sigma. The development will be done in collaboration with the related stakeholders, by following the Lean Six Sigma improvement process DMAIC and by analyzing the process data from the target company. The focus of this research is in demonstrating how to use Lean Six Sigma improvement process DMAIC in practice, rather than in comparing Lean Six Sigma to other improvement methodologies. In order to validate the manufacturing system’s current state, improvement potential and solutions, statistical tools such as linear regression analysis were used. This ensured that all the decisions were as heavily based on actual data as possible. As a result of this research, a set of solutions were developed and implemented in the target company. These solutions included batch size reduction, bottleneck shift, first-in first-out queuing and shifting a data entry task from production planners to line workers. With the use of these solutions, the target company was able to reduce its manufacturing lead time by over one third.

How Lean Six Sigma and Agile principles optimize ITIL-based processes

Imagine the potential implications of an organization whose business and IT processes are well aligned and are capable of reactively and proactively responding to the external and internal changes. The Philips IT Infrastructure and Operations department (I&O) is undergoing a series of transformation activities to help Philips business keeping up with the changes. I&O would serve a critical function in any business sectors; given that the I&O’s strategy switched from “design, build and run” to “specify, acquire and performance manage”, that function is amplified. In 2013, I&O’s biggest transforming programme I&O Futures engaged multiple interdisciplinary departments and programs on decommissioning legacy processes and restructuring new processes with respect to the Information Technology Internet Library (ITIL), helping I&O to achieve a common infrastructure and operating platform (CI&OP). The author joined I&O Futures in the early 2014 and contributed to the CI&OP release 1, during which a designed model Bing Box and its evaluations were conducted through the lens of six sigma’s structured define-measure-analyze-improve-control (DMAIC) improvement approach. This Bing Box model was intended to firstly combine business and IT principles, namely Lean IT, Agile, ITIL best practices, and Aspect-oriented programming (AOP) into a framework. Secondly, the author implemented the modularized optimization cycles according to the defined framework into Philips’ ITIL-based processes and, subsequently, to enhance business process performance as well as to increase efficiency of the optimization cycles. The unique of this thesis is that the Bing Box model not only provided comprehensive optimization approaches and principles for business process performance, but also integrated and standardized optimization modules for the optimization process itself. The research followed a design research guideline that seek to extend the boundaries of human and organizational capabilities by creating new and innovative artifacts. The Chapter 2 firstly reviewed the current research on Lean Six Sigma, Agile, AOP and ITIL, aiming at identifying the broad conceptual bases for this study. In Chapter 3, we included the process of constructing the Bing Box model. The Chapter 4 described the adoption of Bing Box model: two-implementation case validated by stakeholders through observations and interviews. Chapter 5 contained the concluding remarks, the limitation of this research work and the future research areas. Chapter 6 provided the references used in this thesis.

Involving employees in six sigma

Six sigma is a quality improvement philosophy with systematic and formal approach. In order to successfully implement and utilize six sigma the basic disciplines of it should be adopted by the entire organization. Furthermore, employee involvement is crucial in six sigma implementation. This thesis addresses the challenges of long-lasting involvement in the case company. It focuses on gaps of involving six sigma trained employees, Black Belts. Theoretical framework of the thesis illustrates different factors influencing employee involvement. Influencing factors can be divided into ten categories: organizational culture, managerial commitment, leadership style, employee empowerment, employees’ perceptions, communication, training, goals, performance measurement and incentives. Factors and categories overlap and are related to each other. The framework provides holistic view of employee involvement in six sigma context but can be used also with other quality management philosophies. This thesis was conducted as a case study and written on an assignment to a power and automation technology company. Due to the nature of research problem, the data collection was conducted by interviewing case company personnel. In order to study involvement from employees’ point of view interview questions were designed to be open-ended and to allow the interviewees to tell freely about the phenomenon. This thesis provides empirical support on previous studies in organizational support, management commitment and employee empowerment. In addition, it indicates the importance of separate function for Black Belts in the organization. The gaps in Black Belt involvement can be categorized under two categories: Management driven gaps are related to management commitment, organizational structure and culture and information systems. Black Belt driven gaps are related to practice and effort of using six sigma. This thesis finds solutions for bridging these gaps in the case company by applying findings from literature research and suggestions given by the interviewees. For each gap, actions are suggested for bridging the discrepancy between current and desired situations. The thesis states that in order to embed six sigma in the organization the most crucial gaps, lack of management commitment, six sigma vision and possibilities to use six sigma, should be diminished.

Involving employees in six sigma

Six sigma is a quality improvement philosophy with systematic and formal approach. In order to successfully implement and utilize six sigma the basic disciplines of it should be adopted by the entire organization. Furthermore, employee involvement is crucial in six sigma implementation. This thesis addresses the challenges of long-lasting involvement in the case company. It focuses on gaps of involving six sigma trained employees, Black Belts. Theoretical framework of the thesis illustrates different factors influencing employee involvement. Influencing factors can be divided into ten categories: organizational culture, managerial commitment, leadership style, employee empowerment, employees’ perceptions, communication, training, goals, performance measurement and incentives. Factors and categories overlap and are related to each other. The framework provides holistic view of employee involvement in six sigma context but can be used also with other quality management philosophies. This thesis was conducted as a case study and written on an assignment to a power and automation technology company. Due to the nature of research problem, the data collection was conducted by interviewing case company personnel. In order to study involvement from employees’ point of view interview questions were designed to be open-ended and to allow the interviewees to tell freely about the phenomenon. This thesis provides empirical support on previous studies in organizational support, management commitment and employee empowerment. In addition, it indicates the importance of separate function for Black Belts in the organization. The gaps in Black Belt involvement can be categorized under two categories: Management driven gaps are related to management commitment, organizational structure and culture and information systems. Black Belt driven gaps are related to practice and effort of using six sigma. This thesis finds solutions for bridging these gaps in the case company by applying findings from literature research and suggestions given by the interviewees. For each gap, actions are suggested for bridging the discrepancy between current and desired situations. The thesis states that in order to embed six sigma in the organization the most crucial gaps, lack of management commitment, six sigma vision and possibilities to use six sigma, should be diminished.