Six Sigma performance for non-normal processes

Aldowaisan, Tariq; Nourelfath, Mustapha; Hassan, Jawad

doi:10.1016/j.ejor.2015.06.036

Cited by 36 publications

(26 citation statements)

References 24 publications

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“…From the perspective of the time of its development, the diversity of concepts, the ories, and business strategies today has only recently developed rapidly in the last half of the twentieth century. This can be seen from the emergence of concepts such as Balanced Scorecards (Kaplan & Norton, 1996); Six Sigma (Aldowaisan, Nourelfath, &Hassan, 2015;Alhuraish, Robledo, & Kobi, 2017;Porporato, 2016); business theories like stakeholder theory (Bradford, Earp, Showalter, & Williams, 2017), agency theo ry (Bendickson, Muldoon, Liguori & Davis, 2016;Mulawarman, 2014), theory of legiti macy (Duff, 2017); sustainability reporting (O'Dwyer & Unerman, 2016;Sitorus, 2016) and several other business concepts. Busi ness strategy grew more sophisticated and developed especially after the completion of the Second World War (Catchpowle & Smyth, 2016;Smith & Jacobs, 2011;Xu, Cortese, & Zhang, 2014).…”

Section: Resultsmentioning

confidence: 99%

Maqasid Syariah as a Performance Framework for Islamic Financial Institutions

Soediro

Meutia

2018

jamal

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Penelitian ini bertujuan untuk membangun kerangka pengukuran kinerja lembaga keuangan Islam berbasis Maqasid Syariah. Hal tersebut dilakukan melalui intepretasi pernyataan informan dari berbagai latar belakang. Penelitian ini merumuskan lima elemen maqasid syariah, yaitu ad din, nafs, al aql, nasl wal 'ird, dan al maal. Kelima elemen tersebut merupakan pencapaian al maslahah itu sendiri. Untuk lembaga keuangan Islam, semua elemen tersebut harus dicapai tanpa membedakan atau memilih salah satunya. Selain itu, hal ini juga selaras dengan prinsip rahmatan lil 'alamin dan khalifatul fil ardh.

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Section: Resultsmentioning

confidence: 99%

Maqasid Syariah as a Performance Framework for Islamic Financial Institutions

Soediro

Meutia

2018

jamal

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“…The study by Aldowiasan, focusing on Six Sigma performance for non-normal processes, showed that less variation reduction was required to improve exponentially distributed processes [26]. Chao-Ton and Chia-Jan classified the benefit of SSM into hard saving involving tangible outcomes in relation to cost and revenue, and soft savings, involving actual improvements in efficiency, quality, and cash flow [27].…”

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confidence: 99%

Sustainable Process Performance by Application of Six Sigma Concepts: The Research Study of Two Industrial Cases

2016

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Abstract:The current approach to business management focuses on increasing the performance of business processes. To achieve the required processes performance means to ensure the required quality and capability of processes. The partial aim of this paper is to confirm the positive effects of the Six Sigma methodology (SSM) on the corporate performance in the Slovak Republic and an investigation of the dependency of SSM implementation on the certified quality management system (QMS) as a set-forward condition via a questionnaire survey carried out in Slovak industrial enterprises. The survey results confirmed the above-mentioned assumptions. The SSM using DMAIC (Define-Measure-Analyze-Improve-Control) was applied in real conditions of two manufacturing enterprises with a different level of quality management system. The results of the research study proved a possibility to implement SSM and to use the same methods in enterprises aside from a level of QMS. However, more remarkable results were achieved by the enterprise which introduced QMS. The first application of SSM in enterprises within specific conditions of furniture production processes can be considered to be a contribution of the research study, as well. The result of the work is the model including the methodology and the appropriate combination of methods and tools for assuring the sustainable performance of the business processes.

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“…An accurate forecast of the density function of the future return on an asset is important for the management of risk, using measures such as Value at Risk (VaR), Expected Shortfall (ES) or Conditional Value at Risk (CVaR). The results reported in Aldowaisan et al (2015) provide a clear reminder that the tail behaviour of the GB and therefore GST distributions differ, thus reinforcing the need for selection of an appropriate model for the density function. The problem of risk management may be addressed by considering either the unconditional density or the conditional density function of the return series.…”

Section: Literature Reviewmentioning

confidence: 67%

Using parametric classification trees for model selection with applications to financial risk management

Adcock

Meade

2017

European Journal of Operational Research

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We describe two parametric classification tree methods, which allow formal selection of a member of a class of generalised distributions. In the paper we consider generalised Beta distributions for non-negative random variables and the generalised skew-Student distribution for random variables distributed on the real line. We introduce a class of symmetric generalised multivariate Student distributions, members of which may also be selected using the classification trees. We present two versions of the parametric classification tree: specific to general and general to specific. We apply the classification methods to daily returns on stocks from a selection of 15 major, mid-cap and emerging markets. The results show that the majority of return distributions follow Student’s t, but that a non-negligible minority follow a symmetric generalised Student distribution. We confirm a well-known stylised fact about skewness: it tends not to be persistent. By contrast, kurtosis is persistent. Using the symmetric generalised multivariate Student distribution, we present a risk management study based on efficient portfolios constructed from UKFTSE250 stocks and specifically concerned with the computation of value at risk. The case study demonstrates that the model selection procedures based on the classification trees lead to more accurate computation of VaR than those based on the normal distribution or on non-parametric approaches. The study also shows that the normal distribution may be used for VaR computations for larger portfolios when the holding period is longer

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Six Sigma performance for non-normal processes

Cited by 36 publications

References 24 publications

Maqasid Syariah as a Performance Framework for Islamic Financial Institutions

Maqasid Syariah as a Performance Framework for Islamic Financial Institutions

Sustainable Process Performance by Application of Six Sigma Concepts: The Research Study of Two Industrial Cases

Using parametric classification trees for model selection with applications to financial risk management

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