Six Sigma Black Belt: Using Business and Financial Measures

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Six Sigma improvement begins with assessing the current performance of an organization's processes and products, and comparing it with the desired performance. An important part of this assessment is choosing a set of measures that will provide a comprehensive picture of how the company is achieving its goals of customer satisfaction, organizational learning and improvement, internal process performance, and bottom-line financial growth. This course examines two categories of key measures: business performance measures and purely financial measures, exploring how these measures reveal the current state of the business and point to gains achievable through Six Sigma. This course explores how business performance measures such as balanced scorecard, key performance indicators (KPIs), and lagging and leading indicators can be used to align Lean Six Sigma initiatives toward organizational goals. It also explores the critical role of customer loyalty in business success. Turning to purely financial measures of success, this course explores how these financial measures are crucial in determining whether the potential returns of Six Sigma projects will outweigh the required investment. It provides practice in using the formulas associated with these measures, including market share, cost-benefit analysis, return on investment (ROI), net present value (NPV), and hard and soft costs and benefits of Six Sigma projects. This course is aligned with the ASQ Certified Six Sigma Black Belt certification exam and is designed to assist learners as part of their exam preparation. It builds on foundational knowledge that is taught in SkillSoft's ASQ-aligned Green Belt curriculum.

WHAT YOU WILL LEARN

  • discover the key concepts covered in this course
    identify the important attributes of key performance indicators
    recognize steps carried out during the three phases of a Six Sigma effort
    identify the importance of understanding the financial impact of customer loyalty
    recognize how leading and lagging indicators are connected to organizational goals and strategies
    calculate revenue growth, market share, and margin from a given dataset
  • distinguish between types of project costs and benefits
    sequence the steps in cost-benefit analysis
    calculate ROI in a given Six Sigma scenario
    match components of the present value formula to descriptions
    use the net present value (NPV) calculation to decide whether to implement a potential Six Sigma project

IN THIS COURSE

  • Playable
    1. 
    Six Sigma Black Belt: Using Business and Financial Measures
    2m 59s
    UP NEXT
  • Playable
    2. 
    Balanced Scorecards & KPIs
    12m 47s
  • Locked
    3. 
    Customer Loyalty and Leading and Lagging Indicators
    27m 29s
  • Locked
    4. 
    Calculating Revenue Growth, Market Share, and Margin
    14m 26s
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    5. 
    Conducting a Cost-Benefit Analysis
    17m 58s
  • Locked
    6. 
    Calculating Return on Investment
    8m 24s
  • Locked
    7. 
    Determining Net Present Value
    18m 13s

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