Why are Companies Constantly Upgrading their ERP Systems?
February 7, 2025
Bankruptcy is one of the natural states which a company may find itself in. Entrepreneurship is primarily about taking risks. When companies take risks, some of them succeed, whereas others fail. Hence failure is a natural part of the business. However, many critics of bankruptcy laws believe that there isn’t a need for an elaborate […]
What is the Wirecard Scandal all about and Why it is a Wakeup Call for Whistleblowers Anyone who has been following financial and business news over the last couple of years would have heard about Wirecard, the embattled German payments firm that had to file for bankruptcy after serious and humungous frauds were uncovered leading […]
How Modern Decision Makers Have to Confront Present Shock and Information Overload We live in times when Information Overload is getting the better of cognitive abilities to absorb and process the needed data and information to make informed decisions. In addition, the Digital Age has also engendered the Present Shock of Virality and Instant Gratification […]
Geopolitics, Economics, and Geoeconomics In the evolving global trading and economic system, firms and corporates are impacted as much by the economic policies of nations as they are by the geopolitical and foreign policies. In other words, any global firm wishing to do business in the international sphere has to be cognizant of both the […]
In the previous article, we have already come across some of the reasons why the government should not encourage funding of stadiums that are to be used by private franchises. We have already seen that the entire mechanism of government funding ends up being a regressive tax on the citizens of a particular city who […]
However before the end of the define phase a complete team for Six Sigma project emerges. Their roles are clearly defined and responsibilities are allocated to ensure smooth functioning of the project at later stages.
Project Schedule: It is in the “Define” phase that the team gives an appropriate end date to each of the stages in the DMAIC Six Sigma methodology process. Also the end date of the project is decided and the criterion for judging the project as a success or a failure is also decided.
Well-begun is half done, they say. Six Sigma DMAIC methodology ensures that you begin the project well. It is for this reason that an exhaustive define phase has been created with many deliverable documents that force you to think in different ways about your project. The end result of the Define phase is a considerably insightful team working dedicatedly towards a solution.
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