Task A: Lean Six Sigma Approach used in Industry (1500 words)
Lean intends to minimise waste, increases speed, maximise value; Six Sigma helps the organisation to measure, analyse, reduce and control defects. An integrated approach can help the firm to reap the benefits of process excellence faster. The present body of knowledge reports both success and failures of such integrated philosophy. The success primarily on the macro-environment (including social, political and environmental dimensions) and micro-environment (including leadership, skill, culture) of the firm. This task will develop your skills and the application of Lean and/or Six Sigma approaches and theories in a real world context or firm (manufacturing or service industries) in which you are regularly involved. Specifically, you are expected to select and answer one of the following topics of interest (choose one):-
Q1: How can firms align, adapt and deploy Lean/Six Sigma Strategies to effectively response and support the current environmental challenges without jeopardising their business success?
Q2: How can Lean Six Sigma aid firms to balance the need for operational excellence and profits gains with that of environmental compliance?
Q3: Discuss the challenges of Lean Six Sigma application to support the shift towards greener operations and supply chains.
Q4: Discuss the management of Lean Six Sigma with environmental oriented focus on specific sectors (e.g. manufacturing, construction, healthcare, etc.)
You can frame your idea with one particular case application (i.e. Ruben 2017 case application as an example section 5 as well as from your textbook pg. 132 – Six Sigma Implementation for Health Care Industry) and discuss how organisation can utilise Lean Six Sigma approach to address the current environmental challenges.
Alternatively, you can do comparative studies for multiple case applications but you need to show clear studies and a lot of readings are needed to be able to write and evaluate multiple case applications in terms of practical implications, limitations, theoretical and practical aspects.
Task A: Lean Six Sigma Approach used in Industry
1. Try to explore first about Six Sigma and/or Lean initiatives in industries
2. Select appropriate refereed sources to frame and understand the above core question of report’s argument.
3. Take stock of insights. Consider the evidence. Confirm the nature of the core topic of interest based on selected refereed sources (i.e. Journal articles, Conference Proceedings, Book Chapters, etc.).
4. What findings do you reach when gathering the insights and evidence from refereed sources and/or your work experience if any?
5. You may include tables/figures/charts if needed.
6. You should include at least 12-13 references and no more than 50 references in your report. All sources must be highly credible and fully referenced using the APA referencing style.
TASK B (500-800 words)
Briefly explain four market structures (Perfect competition, Monopolistic compition, Oligopoly, Monopoly), and identify the key factors that distinguish them such as number of sellers, type of product, entry conditions, profits and losses in the short and long run. Identify the key characteristics of your company in relation to the factors used to differentiate between the market structures. Use real data from your company.