A small company that provides only services will stand to benefit a lot from the implementation of concepts known as Six Sigma and Lean. The application and use of Six Sigma in the small service company will enable the company to become more customer oriented. For the small service company the critical factors will be parameters of quality and efficiency of its services. This can be achieved by focusing on flow of information and interaction with customers. What Six Sigma does is that it transforms the processes of these flows and hence it leads to quality results. Six Sigma will enable this small service company to modify the element of human performance in its service environment and it will focus on the opinions and decisions being made by people. All these will lead to a development of process focus within the small service company and when this company shifts from task focus to process focus, thanks to Six Sigma, it will witness a significant improvement in its quality and efficiency.
Besides driving customer focus Six Sigma will also help the small service company to generate sustained improvement as robust business processes are developed and implemented. It will also help the small service company to even design and develop new service offerings in future as well. Innovation culture within this company will become more thriving and vibrant and all processes and operations will become well oiled.
Discuss why a small company that provides only services, not products, could benefit from the concepts...
Explain why quality and TQM are important to a service-based business (which has no physical or tangible product). Further, select and discuss one of the key concepts from below in the context of an organization. Be sure to identify the name of the organization. If the organization’s name needs to stay anonymous, please check with the instructor ahead of time regarding how to approach that. Provide justification why companies should embrace ISO international quality standards. Explain why your selected organization...
Discuss the advantages and disadvantages of prodrugs? Who would benefit from them the most? Why might a drug company want to develop a prodrug for ADHD?
a. Use a demand/supply diagram to discuss why rice farmers may not benefit from a technological improvement in producing rice. b. Use a demand/supply diagram to discuss why producers for luxury goods may benefit from a technological improvement in producing the goods.
Could a privately held company benefit from using GAAP accounting, even though it isn’t legally required to do so? Why or why not?
Learning Activity #5 Apply the following concepts to the company you selected for the group project. 1. Describe the services and tangible products that your organization provides then state whether you consider this company a manufacturing a service organization or a mix of both and why? 2. Describe the Core Transformation Process for the selected company. 3. Explain the Interdependence and Management Implications (Reciprocal, sequential or pooled) to the selected group project company. ra
The Dow Chemical Company provides chemical, plastic, and agricultural products and services to various consumer markets. The following excerpt is taken from the disclosure notes of Dow’s 2015 annual report: In total, the Company’s accrued liability for probable environmental remediation and restoration costs was $670 million at December 31, 2015, compared with $706 million at the end of 2014. This is management’s best estimate of the costs for remediation and restoration with respect to environmental matters for which the Company...
The Dune Chemical Company provides chemical, plastic, and agricultural products and services to various consumer markets. The following excerpt is taken from the disclosure notes of Dune’s 2015 annual report: In total, the Company’s accrued liability for probable environmental remediation and restoration costs was $728 million at December 31, 2015, compared with $760 million at the end of 2014. This is management’s best estimate of the costs for remediation and restoration with respect to environmental matters for which the Company...
What products or services does Georgia Power Company provides and do you think prices would be higher or lower if there were 2 or more providers? please explain!
5. Discuss the principal of crystallization on a molecular level (lattice) that explains why crystallization provides a pure compound. Describe the technique known as 'crystal seeding' and state how "seeding could be used to accelerate the crystal growing process 7. State the solubility of each of the components in neutral water . State if any unexpected compound was observed, via TLC, either in the crystals or after the extraction of the filtrate. If so identify the unexpected compound and state...
On April 1, a company provides services to one of its customers for $19,000. As payment for the services, the company accepts a six-month, 8% note from the customer. Record the acceptance of the note receivable on April 1 and the cash collection on October 1. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.)