Discussion Question 1
At my workplace, there is a need for the implementation of the Financial Management System. The company requires organizational change, and they found that the old financial management system does not meet the company's future requirements. As a result, the financial system must meet the clients' needs and should be completed with the stipulated time with a limited budget. Applying a statistically thinking strategy will help develop the project (Hoerl & Snee, 2020). I will utilize it to find the root cause of the project's variation, which will enable me to avoid falling into usual traps while evaluating data. I will understand how the deviation work and elaborate on the validity of the outcomes. Above all, I will use statistical techniques to quantify risks.
Discussion Question 2
I agree with the statement that eliminating or minimizing non-value-added work the core to increasing business productivity. Whether in a boom of recession, each company must sharpen the competitive edge and streamline the business activities. When there is the elimination of non-value activities, the organization will realize cost reduction. by tackling all these activities from the begging to the end. The organization will improve their products' value, attain considerable cost reduction, smoothen cash flow, and achieve a healthy and competitive advantage. A great example of an organization that supports the statement are manufacturing companies (Nallusamy & Adil Ahamed, 2017). They ensure they minimize wastes as much as possible from waiting period to the finished products' transportation.
Delegate your assignment to our experts and they will do the rest.
Discussion Question 3
Process solving framework is a technique taken to close the gap between actual and present condition and the expected or desired degree of the issues. On the other hand, a process improvement framework is a technique applied in a continuous way to comprehend all business procedures' elements and phenomena. The information gained will be utilized to reduce the complexity and variation. It also improves general business performance. Both frameworks are approaches to solve challenges within an organization (Pugna, Negrea, & Miclea, 2016). A great example is the communication breakdown within different sections in an organization. If the problem improvement framework was used, there could be no problem.
References
Hoerl, R. W., & Snee, R. D. (2020). Statistical thinking: Improving business performance . John Wiley & Sons.
Nallusamy, S., & Adil Ahamed, M. (2017). Implementation of lean tools in an automotive industry for productivity enhancement - A case study. International Journal of Engineering Research in Africa , 29 , 175-185. https://doi.org/10.4028/www.scientific.net/jera.29.175
Pugna, A., Negrea, R., & Miclea, S. (2016). Using Six Sigma methodology to improve the assembly process in an automotive company. Procedia - Social and Behavioral Sciences , 221 , 308-316. https://doi.org/10.1016/j.sbspro.2016.05.120
