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The Value Focus topic will provide each participant with the application-based knowledge and experience-driven principles that are required to develop a meaningful understanding of the systematic way in which value is created, for any type or size of enterprise. This powerful knowledge platform is framed by the time-tested Six Sigma DMAIC problem solving strategy, but focuses its energy on how to identify, extend and exploit opportunities to create value, to the benefit of the customer and provider concurrently. Furthermore, the participant will gain vital insights into how a value creation opportunity can be optimized and subsequently leveraged to produce quantum change in everything a business does or seeks to do, at any level of the enterprise.
In this context, the participant will discover how to identify and define a driving business need, leverage that need into a value creation opportunity, identify the driving and restraining forces that govern the opportunity and establish optimal operating conditions to exploit the opportunity. Students are also taught how to control variations that could potentially degrade the opportunity for value creation. In short, this topic considers what it takes to create value opportunities and maximize the chances of realization. Reinforcement of major concepts, techniques, and application is achieved through exercises, scenarios, and case studies. By way of this training, the participant will gain tremendous insight into the logic and reasoning which underlies Six Sigma and the process of breakthrough improvement. Total instructional time for this topic is 1 hour and 44 minutes.
- Value Creation - Define the idea of value and explain how it can be created
- Recognize Needs - Recognize the power of need fulfillment and how it links to value creation
- Define Opportunities - Understand how to define opportunities that lead to the creation of value
- Measure Conditions - Identify and evaluate the conditions that underlies improvement opportunity
- Analyze Forces - Explain how the underlying forces are identified and leveraged to create beneficial change
- Improve Settings - Establish optimal settings for each of the key forces that underpins beneficial change
- Control Variations - Discuss how unwanted variations can mask the pathway to breakthrough
- Standardize Factors - Understand the role and importance of standardized success factors
- Integrate Lessons - Explain how key lessons learned can be merged into a set of best practices
- Application Example - Understand how the breakthrough process can be applied to everyday life