Developing a framework for Six Sigma in financial service institutions : empirical evidence from expert interviews

Chakraborty, Ayon & Leyer, Michael (2011) Developing a framework for Six Sigma in financial service institutions : empirical evidence from expert interviews. In Proceedings of the 2011 IEEE International Conference on Industrial Engineering and Engineering Management, IEEE, Furama RiverFront Hotel, Singapore, pp. 799-803.

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Six Sigma is considered to be an important management philosophy to obtain satisfied customers. But financial service organisations have been slow to adopt Six Sigma issues so far. Despite the extensive effort that has been invested and benefits that can be obtained, the systematic implementation of Six Sigma in financial service organisations is limited. As a company wide implementation framework is missing so far, this paper tries to fill this gap. Based on theory, a conceptual framework is developed and evaluated by experts from financial institutions. The results show that it is very important to link Six Sigma with the strategic as well as the operations level. Furthermore, although Six Sigma is a very important method for improving quality of processes others such as Lean Management are also used This requires a superior project portfolio management to coordinate resources and projects of Six Sigma with the other methods used. Beside the theoretical contribution, the framework can be used by financial service companies to evaluate their Six Sigma activities. Thus, the framework grounded through literature and empirical data will be a useful guide for sustainable and successful implementation of a Six Sigma initiative in financial service organisations.

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ID Code: 47826
Item Type: Conference Paper
Refereed: Yes
Keywords: Six Sigma, Framework, Financial Services, Qualitative Research, Expert Interviews
ISBN: 9781457707384
Subjects: Australian and New Zealand Standard Research Classification > INFORMATION AND COMPUTING SCIENCES (080000) > INFORMATION SYSTEMS (080600)
Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > BUSINESS AND MANAGEMENT (150300)
Divisions: Past > QUT Faculties & Divisions > Faculty of Science and Technology
Past > Schools > Information Systems
Copyright Owner: Copyright 2011 IEEE
Copyright Statement: Personal use of this material is permitted. However, permission to reprint/republish this material for advertising or promotional purposes or for creating new collective works for resale or redistribution to servers or lists, or to reuse any copyrighted component of this work in other works must be obtained from the IEEE.
Deposited On: 19 Dec 2011 21:59
Last Modified: 20 Dec 2011 22:45

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