Six Sigma and business growth go hand in hand. Most of the top companies of the world have by now introduced some form of the “traditional” Six Sigma or the other. They are reaping many benefits particularly in the areas of efficiencies, cost reduction, and cash generation through process improvement. That is basically the extent of what the “traditional” or DMAIC Six Sigma has to offer.
Six Sigma is continuing to evolve its powerful methodology. Its current offering includes Six Sigma and Business Growth which is specifically aimed at business growth and less on business improvement. As with DMAIC, DFSS (or DMADV, DMEDI) follows a specific road map with numerous tools and techniques along the way to assist in achieving a particular outcome.
However, with the many more tools available with Six Sigma and business growth the use of tools is somewhat more flexible. It is unlikely that all the Six Sigma and business growth tools will be used in a single project simply because each project has different outcomes based on different market needs, product configuration, and company capabilities. Tools are selected to achieve a specific answer, arrive at the right decision, and thus reduce risk.
How does Six Sigma and Business Growth Go Hand in Hand?
Six Sigma and business growth are particularly useful for creating a common language between marketing, research and development, design, and manufacturing.Six Sigma and business growth are successful during the design of new offerings based on the VOC (Voice of the Customer).
It is equally successful when employed within the marketing discipline to assist with identifying the ‘right’ opportunities in the market that will offer the greatest value to the company and its customers/consumers/clients. In many organizations, marketing has settled in a more operational role. Implementation and management of campaigns, prices, etc.
Six Sigma and business growth brings marketing back to focus on its strategic, tactical, and operational functions and does each one to its best. In the strategic sphere, Six Sigma and business growth assist marketers in developing an appropriate opportunity portfolio based on the company’s objectives.
When it comes to the tactical phase, solutions are offered to select the best offering configuration for commercialization and take marketers through the commercialization process to maximize the success of the launch. Operational Six Sigma and Business Growth are about the launch and post-launch management of an offering through to discontinuation.
Companies that have implemented Six Sigma and business growth have seen their new product introduction success rate rise from as low as 8% to as high as a staggering 68%.
Profitable Processes has a well-evolved process for deploying Six Sigma and business growth into your marketing function to optimize resource usage and increase commercialization success.