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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.
William B. Smith, Jr. (1929 – 1993) was the "father of Six Sigma".Born in Brooklyn, New York, Smith graduated from the U.S. Naval Academy in 1952 and studied at the University of Minnesota School of Management (now known as the Carlson School of Management) but did not graduate.
William F. Banholzer (born January 23, 1957) is an American Professor of Chemical and Biological Engineering at the University of Wisconsin-Madison.Prior to this role, he was formally a chemical engineer and Executive Vice President and Chief Technology Officer at the Dow Chemical Company.
Welch adopted Motorola's Six Sigma quality program in late 1995. In 1980, the year before Welch became CEO, GE recorded revenues of roughly $26.8 billion and in 2000, the year before he left, they were nearly $130 billion. [15] By 1999 he was named "Manager of the Century" by Fortune magazine. [21]
The $60 billion quant hedge fund's feuding founders John Overdeck and David Siegel are stepping back as co-CEOs.
Lean Six Sigma is a synergized managerial concept of Lean and Six Sigma. [6] 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.
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It is intended to enable employees to identify, deliver, and enhance the flow of value to customers. Common frameworks associated with operational excellence include: lean management and Six Sigma, which emphasize efficiency, waste reduction, and quality improvement. Organizations that adopt these practices may report increased customer ...
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