A Business Report Assignment Example | Topics and Well Written Essays - 2000 words - 1

A Business Report - Assignment Example Technology reduces workload on workers and as such, labor costs are greatly reduced alongside production duration (Orzen and Bell, 2010, p. 36). Each business strategy has its own strength and weaknesses; as such, integrating two strategies might be beneficial or harmful to the organization, depending on how the two interacts. Therefore, selecting two strategies that complements each other ensures that the weaknesses are covered up, while the strength is enhanced. According to Devane (2004, p. 66-123), Lean and Six Sigma perform optimally when implemented together, leading to improved efficiency and productivity. The best approach to performance improvement, referred to as lean management, is determined by the complex interaction among people, material, equipments and resources. Both Six Sigma and lean management gives a certain principle of organizational performance, especially in a competitive environment, which states that returns may diminish if the two programs work in isolation and this may lead to failure in achieving perfect goals (Arnheiter and Maleyeff , 2005. P. 3-14). A society that will be practicing lean Six Sigma, would be exploiting both on the strength of both lean organization and Six Sigma process. The integration of Lean and Six Sigma improvement methods is required in that; first, it brings a process into statistical control, which makes it easy to analyse various attributes of the business, which are necessary for making sound business decision. Secondly, it brings a dramatic improvement in procedure speed or reduced invested capital and reduced cost, while increasing the output; this is healthy for the business and ensures that achievement of the organization’s goals and objectives are realized. Both Six sigma and Lean differ but correlate in some ways; for instance, Six Sigma emphasizes the need to classify chances and remove flaws as per the perception of the customers, and identifies