Business Finance Homework Help

Relate your personal experience:

We will look at several methods in this class.  All have varying degrees of acceptance or use in professional environments.  Which methods do you have experience or some familiarity through your study or work?  Describe your exposure to any of these methodologies.  Any context surrounding the methodology application for your company?  (Lean, Six Sigma, Scrum, Scaled Agile Framework, etc.)

Megan  

One methodology I find myself using frequently is the lean problem solving. Lean problem solving is a system that has continuous improvements to solve the problem at hand. There are eight steps that are associated with this: clarifying the problem, analyze of the problem, setting targets, looking at the root cause, the development of countermeasures, seeing these countermeasures are walked through, checking the work, and then ensuring the problem stays fixed. These steps that are taken to clarify the problem are all essential and should not be skipped; by taking each step you are able to improve and find a new solution to the dilemma.

I have used this method of problem solving in my current work environment. One problem I have faced is moving at too slow of pace to complete this task. I first begin by clarifying the problem, I’m moving at too slow of a pace I would prefer. I then needed to analyze the problem and see why I was like this. In this case it was because this task was new to me, so I was unsure of how to complete and move successfully. Moving forward, I set targets, my target is to move quickly yet ensure the work is completed correctly. For this to take place I need to learn the order of customer names and where to find information. The root of the cause in this case is not knowing what order all the customers are in, from here I am able to analyze the order. Next, I develop countermeasures to increase my productivity; I look for an order I am able to follow and go along that route. Once I have completed this step continuously I see my countermeasures are being followed through and are progressing. I am then able to check my work and notice that I am moving in a much faster pace then when I first began. From that change forward, I complete my work in a time I am satisfied with and haven’t found myself going back to my beginner ways.

Jacob

I had a personal experience when I used to work in hospitality where I had to use the six sigma business methodology (DMAIC). This type of problem solving, from my experience, worked well while I worked in a restaurant.

As a server and table cleaner the problems were usually to do with service time, depending on how busy the restaurant was at the time determined the severity of the problem. Supervisors and colleagues were encouraged to constantly analyze the how long customers have been waiting and if they need their table tidied. From this, colleagues would try to spot when a worker is specifically busy and help by providing service for their tables that couldn’t be served/tidied quick enough. This form of communication helps improve the problem and makes sure all customers are served efficiently even if a specific worker is extremely busy. In order to control the problem frequent communication and teamwork is essential as it allows all workers to collectively help customers have a pleasant experience.