What is 'Six Sigma'?
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A mathematical model for increasing output while lowering costs
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A system of quality management
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A form of industrial dispute arbitration
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An ad-hoc grouping of the world's six most valuable companies
Six Sigma is a quality management methodology that uses statistical methods to reduce defects and improve processes. It aims to achieve no more than 3.4 defects per million opportunities, focusing on data-driven decision-making and continuous improvement.
To answer this question, you need to understand the concept of Six Sigma.
Option A) A mathematical model for increasing output while lowering costs - This option is incorrect because Six Sigma is not solely a mathematical model. It is a comprehensive system that involves statistical tools and techniques, but it also encompasses a broader approach to quality management.
Option B) A system of quality management - This option is correct because Six Sigma is indeed a system of quality management. It focuses on minimizing defects, reducing process variability, and improving overall quality. It emphasizes data-driven decision-making and the use of statistical tools to identify and eliminate sources of variation in processes.
Option C) A form of industrial dispute arbitration - This option is incorrect. Six Sigma is not related to industrial dispute arbitration. It is primarily focused on quality improvement and process optimization rather than resolving labor disputes.
Option D) An ad-hoc grouping of the world's six most valuable companies - This option is incorrect. Six Sigma does not refer to an ad-hoc grouping of companies. It is a methodology and a system used in various industries to improve quality and reduce defects.
The correct answer is B) A system of quality management. This option is correct because Six Sigma is a comprehensive approach to quality management that aims to reduce defects and improve overall process performance.