Innovation for Breakthrough New Business Growth Strategy
|Date Published||June 1, 2005|
There are two ways to increase the profitability of an enterprise. One way is to reduce operating expense. Another way is to create profitable new business growth. Many organizations are achieving excellent results in optimizing operations and reducing operating expense by incorporating a Six Sigma approach or other forms of Total Quality Management. However, few companies recognize that this is also a powerful contributor to improve their approach for creating new business growth, which is a more sustainable way to increase profitability. The basic premise of a Six Sigma approach is to understand that everything we do evolves around processes. Once we understand the process we use to identify new products/services, we can establish measurements on process performance. Once we have measurements, we can apply statistical techniques to reduce process variability. Our journey towards new business growth performance excellence has begun.