Respond to classmate dialogue on topic below
Topic 1:Describe the importance of reducing deficiencies in organizational processes to maximize profitability and sustainability. How can this be accomplished? How can obstacles be overcome?
Classmate dialogue: Profitability, defects and Sustainability
It is extremely important to reduce deficiencies in organizaitonal proces to maximize profititabilty and sustainability. Waste can directly be linked to the reductiton of profit by increased cost. Maximizing profitabilty is a key goal for any business and sustanining that profitatibiliy in the mist of competion and shifting markets is a challenge. To meet the task, companies incorperation performance and quality measures to promote effiency. Waste can be measured in time, money, costomer satisfaction and sales. This can be accomplished by instituting systems that promote efficient performance and through review. Some sucessful companies such as Motorola have utilized stategies such as Six Sigma to promote maximized profits and sutanabilty by identifiying defiencies and defets that can be associated with cost. As the quality of products and services is critical to a firm’s success, many attempts have been made over the years to deploy continuous improvement programmes to improve quality, and Lean Six Sigma is one of the most frequently used frameworks for continuous improvement (Laureani 2018). In order for obstacles to be overcome they first need to be identified. Once identified, appropriate strategies can be evaluated for implementtation and review. Being able to identify the defect/ deficiency is key. Doing so allows businesses to target performance, supply chain, process or human capitipal issues that have an impact to the bottom line.
References:
Laureani, A 2018 Leadershiop- A Criticaal Success Factor for the Effective Implementation of Lean Six Sigma. Total Quality Managmeent & Business Excellence https://doi-org.ezporxy.regent.edu/10.1080/14783363.2016.1211480
Villanova Univeristy August 25,2020 Organizaitonal Benefits of Six Sigma