Banking Sector Growth in China: Can Six-Sigma Be a Solution?

Wang, Lixia; Hussain, Iftikhar

doi:10.5539/ijbm.v6n2p169

Cited by 10 publications

(11 citation statements)

References 24 publications

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“…In literature, many authors have argued that there are many significant challenges in LSS implementation. The main challenge in the field of LSS in the financial sector during implementation is the lack of study that makes it difficult for the organizations to learn and implement the same (Heckl et al, 2010;Lokkerbol et al, 2012;Mahmutaj et al, 2015;Snee and Hoerl, 2007;Wang and Hussain, 2011). This result seems to lack common criteria to access the project progress, success and complexity (Hsieh et al, 2012;Buavaraporn and Tannock, 2013).…”

Section: Lean Six Sigma In Financial Sectormentioning

confidence: 99%

A structured review of Lean Six Sigma in various industrial sectors

Singh

Rathi

2019

IJLSS

169

137

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Purpose The purpose of present study is to expose the detailed review for benefits and challenges about implementation of Lean Six Sigma (LSS) in business organization and spread of LSS literature in term of various sectors wise, research methodology wise and journal wise. Design/methodology/approach This paper covers the literature on LSS from 2000 to 2018. The authors have selected a large number of research papers using the keywords as Lean Six Sigma implementation in automotive, micro small medium enterprises, health care, education, financial sectors and many more. A total of 216 research papers have been reviewed on LSS distribution of sector wise, research methodology adopted, active countries, year of publication and critical barriers in implementation of LSS. Findings The present literature classifies the spread of LSS in four important sectors of manufacturing, health care, human resource, financial and education. It presents the critical barriers and benefits of LSS implementation in various sectors mentioned above and an important research gap, where practitioner/researcher can focus more during their research on LSS. Practical implications It is important for industry, researchers and LSS practitioners to be aware about challenges and success factor during LSS implementation in various sectors such as manufacturing, education, financial, human resource and health care. Hence, this paper could provide significant and valuable insights to industry and practitioners for successful implementation of LSS projects. Social implications LSS results in reduced waste, defects and improve process, which in turn provide high-quality products at minimum cost, and this leads to customer delight, which ultimately raises the societal living standard. The results encourage LSS practices without fear because there is a huge discussion of near about all success and failure parameters about LSS. Originality/value To the authors’ best knowledge, no studies have still covered the literature review of LSS implementation in three different sectors: manufacturing, service and process. The present study was mainly focused on presenting a systematic review of literature in said sectors and found the gap between current status and future direction for the implementation of LSS in different areas.

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Section: Lean Six Sigma In Financial Sectormentioning

confidence: 99%

A structured review of Lean Six Sigma in various industrial sectors

Singh

Rathi

2019

IJLSS

169

137

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“…Karlsson (2010) conducts a detailed case study, and the subject of the case study is the loan process at a Swedish bank. Wang and Hussain (2011) give a critical analysis of the impact of Six Sigma on the banking performance (e.g. customer services).…”

Section: Related Work and Research Questionmentioning

confidence: 99%

“…However, to date, as far as I am aware, there are few published studies that review the application of the Six Sigma approach in credit card departments; the researchers found only one study that has attempted to review part of the literature. The work that is most closely related to the focus of this study is that of Kumar et al (2008), and the purpose of Diana et al (2010) Discusses the factors that make Six Sigma in the financial sector a success Fu-Kwun and Kao-Shan (2010) Extends the Lean Six Sigma approach to an application in the service industry Karlsson (2010) The subject of the case study is the loan process at a Swedish bank Wang and Hussain (2011) Gives an analysis of the impact of Six Sigma on the banking performance Jumah et al (2012) Discusses the quality initiatives implemented in Hong Kong banks Erina and Erins (2013) Estimates the success of Six Sigma implementation in Latvian banks Riley et al (2013) Describes how a bank used Six Sigma to improve its lending process Sharma and Chowhan (2013) Discusses the benefits of Six Sigma implementation in banking Xu et al (2013) Recommends a process scheme for the production changes of G bank Kumar (2014) Discusses the benefits and the process of Six Sigma implementation in banking Masoud (2014) Investigates Six Sigma implementation in the Libyan banking sector Johannsen et al (2015) Discusses the results of Six Sigma implementation at an automotive bank Nichols (2015) Presents the benefits of Lean Six Sigma implementation at a bank IJLSS 7,3…”

Section: Related Work and Research Questionmentioning

confidence: 99%

Credit card account opening excellence using six sigma methodology

Islam

2016

IJLSS

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Purpose This study aims to expand the current knowledge of the Six Sigma approach in a period of time when there is little direct evidence of the need to improve the credit card account opening process. This is an important but neglected area of focus in the Six Sigma literature. This study explores the extent to which process improvement practices are extended to the credit card department. Design/methodology/approach A case study methodology is adopted in this study to facilitate an exploration of the implemented Six Sigma approach in the credit card department of a leading commercial bank. The process improvement tool used is the define, measure, analyze, improve and control (DMAIC) cycle. Findings The study’s results confirm that the Six Sigma approach improves the quality of the credit card account opening process. So, the Six Sigma approach can account for a reduced number of keying-in errors, resulting in better data accuracy and improved customer satisfaction. Research limitations/implications The authors, in an attempt to render the study results more feasible for data collection, have chosen to focus on the process of the new accounts unit of the credit card department. Therefore, the authors have not taken into account the other units (e.g. transaction processing) of the same department. Practical implications The results of this study will be useful in persuading bank management to evaluate and implement the Six Sigma approach. Hence, this research will assist bank managers with replies to questions, such as: “What impact will Six Sigma have on process-centric improvement, such as the new accounts opening process of a credit card department?” Originality/value Within the literature on the Six Sigma practice, there is little research that focuses on the implementation of this particular toolset especially for credit card departments. This indicates a gap in the field. A new contribution to bridging that gap comes from the analysis of the results for the Six Sigma concept, which addresses the new accounts opening process.

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“…For TPS, for example, both Adler (1997) and Kocakulah et al (2011) emphasize the necessity of TPS training in general as well as in understanding the processes and the purpose of the processes. Similarly, in both IJQSS 5,1 lean and Six Sigma projects, organizations must ensure that employees at all levels are familiar with their role in the process improvement program (Achanga, 2006;Wang, 2011). Dahlgaard and Dahlgaard-Park (2006) mean that too much emphasis often is on tools and techniques and not enough emphasis on the human factor; on how to build a commitment for improvement and the change culture.…”

Section: Whatmentioning

confidence: 99%

Lean and six sigma – critical success factors revisited

Näslund

2013

International Journal of Quality and Service Sciences

104

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Purpose -The purpose of this paper is to provide a review of the critical success factors (CSF) for lean and six sigma and an analysis of these CSF as compared to previously popular change methods. Design/methodology/approach -The paper uses a literature search and comparative analysis complemented with examples from previous case studies. Findings -With only slight variations, the critical success factors are similar for all the change methods. Furthermore, the critical success factors seem to be relatively constant over time. Another important finding is that the CSF tend to relate more to how an organization approaches the change effort versus change method specific factors. The issues of management support and organizational culture are often emphasized as especially critical. The paper highlights and discusses three additional important CSF: strategic alignment, project management and training. Practical implications -The awareness of CSF, in combination with an awareness of similarities between the methods, can potentially guide organizations in implementations of existing change efforts, and also prepare them for the next widely popular change method -when it arrives. Originality/value -The paper presents the comparison of such aspects as goals, approaches, structure and tools and a detailed analysis of critical success factors.

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Banking Sector Growth in China: Can Six-Sigma Be a Solution?

Cited by 10 publications

References 24 publications

A structured review of Lean Six Sigma in various industrial sectors

A structured review of Lean Six Sigma in various industrial sectors

Credit card account opening excellence using six sigma methodology

Lean and six sigma – critical success factors revisited

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