Capital One banks on Six Sigma for strategy execution and culture transformation

Immaneni, A.; McCombs, Allen; Cheatham, Gus; Andrews, Ron

doi:10.1002/joe.20173

Cited by 12 publications

(8 citation statements)

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“…Such resources become more valuable as they have more available codified knowledge and practical experience that they can apply. For example, Immaneni et al (2007) describe how Capital One, a Six Sigma adopter in 2005, recruited and hired available Six Sigma resources from other firms, and availed existing employees of extant Six Sigma training. Although such training and knowledgeable potential employees were available to all late adopters, Capital One had the required resources to pursue this strategy.…”

Section: Discussionmentioning

confidence: 99%

Performance effects of early and late Six Sigma adoptions

Jacobs

Swink

Linderman

2015

J of Ops Management

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Operations managers confront the challenge of deciding when to implement various administrative innovations such as Six Sigma, ISO 9000, and Lean. This research examines the operating performance effects of early versus late adoption of Six Sigma process improvement. Using theories of organizational learning and knowledge transfer, we develop hypotheses describing the advantages of late adoption, and factors that affect a firm's ability to benefit from Six Sigma either as an early or late adopter. We test our hypotheses using an event study methodology. The empirical results show that, on average, late adopters in our sample enjoy significantly greater performance gains than early adopters. However, the analysis also shows that the advantages of late adopters tend to be moderated by certain environmental and structural characteristics of a firm. Specifically, late adoption has been favorable when firms operate in low-velocity industries, when they primarily sell in business-to-business markets, when they have good financial performance prior to adoption, and when they are large. Conversely, when adopters operate in conditions that have the opposite characteristics, then early adoption appears to have produced better results. Understanding the effects of these factors can enhance managers' abilities to determine appropriate adoption timing to increase performance.

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Section: Discussionmentioning

confidence: 99%

Performance effects of early and late Six Sigma adoptions

Jacobs

Swink

Linderman

2015

J of Ops Management

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“…De Mast (2006) argues that core Six Sigma competencies like effective problem solving and good decision behaviors lead to competitive advantage when they are integrated into a company's strategy. Immaneni et al (2007) show how Capital One banks used Six Sigma to change their company culture to be more focused on their customers and continuously improve. Rajamanoharan and Collier (2006) show that if a company is not culturally ready to change when implementing Six Sigma there is less chance of success.…”

Section: Structured Methodsmentioning

confidence: 99%

Personality characteristics and Six Sigma: a review

Witt

Baker

2018

IJQRM

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Purpose From two bodies of literature, the purpose of this paper is to generate theory for an updated conceptual model of drivers of Six Sigma project success by integrating extant psychology theory and empirical general team project results with a history of eight recent Six Sigma projects and extant Six Sigma literature. The new theory emphasizes the need for project leads to process information simultaneously, as well as develop prioritization abilities. Also, the new theory reverses the relations of three existing theories from general team composition theory. The new theory suggests that Six Sigma belt trainers should focus more on soft skill development. Design/methodology/approach A literature review of the two bodies of literature previously mentioned. Findings Eight new propositions related to the success of Six Sigma projects are developed. Further, two new constructs, “project leader simultaneity of thought” and “prioritization ability” are suggested for further investigation. Originality/value The authors suggest a few practical implications: first a greater emphasis on soft skill training would be beneficial in Six Sigma belt training. A second new point of emphasis in belt training is developing greater internal locus of control in belt candidates. Third, the authors suggest that during the team member selection process a diversity of backgrounds would be beneficial to Six Sigma project success.

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“…They started to redesign its major business processes, and nurture a culture centered approach on customer focus and continuous improvement. Three years later, the associates have embraced this new culture of customer focus and a commitment to continuous improvement (Immaneni and McCombs, 2007).…”

Section: Lss In Banking and Financial Servicesmentioning

confidence: 99%

Lean six sigma project management – a stakeholder management perspective

Sunder

2016

The TQM Journal

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Purpose – The purpose of this paper is to understand the success of Lean Six Sigma (LSS) in banking and financial services industry and to develop a structured stakeholders management model for successful LSS project management. Design/methodology/approach – A two-phase methodology is used. Phase 1 establishes the literature to understand two key process improvement methodologies – Lean and Six Sigma and to derive synergies by their combination leading to success in banking and financial services. The literature also helps to recognize the importance of stakeholder management in LSS projects and to understand how it helps in accelerating change in organizations. Phase 2 of the methodology is based on the interviews conducted by 56 global LSS project managers. This is to understand the practical challenges faced by the LSS project managers in banking and financial services tying back to the existing literature. Findings – The paper identifies the possible opportunities for structured stakeholder management across different phases of Define-Measure-Analyze-Improve-Control (DMAIC) project flow. The first of this kind, “Inform-Involve-Influence” model has been developed based on the understanding from literature and conclusions from the interviews conducted. The proposed model highlights the different set of stakeholders involved in LSS projects and their role in the project. The model also helps categorizing the stakeholders based on the DMAIC phases. Research limitations/implications – The paper is limited to readymade use in banking and financial service environments for LSS projects. However the paper sets a platform for further research to customize the proposed model for other service industries. Practical implications – The model proposed as part of the paper helps project managers to inform, involve and influence different set of stakeholders at different phases of the DMAIC flow. The model leaves an opportunity for further research and customization for other service industries outside the banking and financial services space like hospitality, government, heath care, etc. Benefits and limitations of the model were presented as part of the paper. Originality/value – The paper is the original work contributed by the author. Both the survey findings and the model developed are author’s original contribution for both academicians and corporate professionals.

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Capital One banks on Six Sigma for strategy execution and culture transformation

Abstract: When a major shift in strategy propelled

Cited by 12 publications

References 0 publications

Performance effects of early and late Six Sigma adoptions

Performance effects of early and late Six Sigma adoptions

Personality characteristics and Six Sigma: a review

Lean six sigma project management – a stakeholder management perspective

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