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Lean Six Sigma in Banking Services: Operational and Strategy Applications for Theory and Practice
Lean Six Sigma in Banking Services: Operational and Strategy Applications for Theory and Practice
Lean Six Sigma in Banking Services: Operational and Strategy Applications for Theory and Practice
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Lean Six Sigma in Banking Services: Operational and Strategy Applications for Theory and Practice

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This book explores a range of prospective avenues, models, and operational and strategic approaches to Lean Six Sigma (LSS), a contemporary Continuous Improvement (CI) practice for achieving a quality-based competitive edge in organisations. Lean Six Sigma project case studies from banking organizations help to illustrate the operational dimensions of LSS, while the case-specific and cross-case analyses presented here demonstrate its strategic value. While the case data used to arrive at the findings come from the Banking firms, it allows generalizability beyond the Banking and Financial Services sector.

The book contends that LSS is not merely a CI practice, but a higher-order organizational capability, more precisely a dynamic capability, that allows firms to gain a competitive edge based on quality. Addressing the interests of practitioners and researchers alike, the book strikes a balance between theory and practice.

For practitioners, it offers guidance on using LSS to gain a competitive advantage, and on evidence-based practice in quality management and operational excellence. For researchers, it presents a wealth of literature and expands the body of knowledge on quality management. Accordingly, the book is of immense value to both practitioners and researchers, helping the former unlock the value of LSS as both an operational and strategic resource, and highlighting potential research directions and applications for the latter.

“This book provides a deep understanding of Lean Six Sigma applications. It inspires by transferring the principles of the concept into uncommon areas of operations and management behind the usual quality and project management. While reading the book I got hit by a great idea of applying Lean Six Sigma in my digital business as well. My impression at the end of the book was that sky is the limit for the right employment of Lean Six Sigma, especially while viewing it from a dynamic capabilities’ lens. Readers of this book will surely receive insights for improving their business processes both operationally and strategically. Although the book is focused on banking, it is actually suitable for a really wide audience. This is a brilliant piece of research as a book that will serve as a guide for transformation by the prism of Lean Six Sigma.”

- Professor. Dr. ZornitsaYordanova, Chief Assistant Professor of Innovation Management, University of National and World Economy, Sofia, Bulgaria


“Lean Six Sigma needs to be understood from a systems perspective and there exists a huge knowledge gap in this area of finding holistic solutions to business problems. This book is a very welcome work that addresses this call. It integrates quality management resources and dynamic capabilities view towards practice. Banking and Financial Services was aptly chosen as it has the most direct applicability for social enterprises. Anyone interested in creating more impact with less will surely benefit from reading the book”

-Alex Abraham, Chief Executive Officer, Lean Success Partners, Winnipeg, Manitoba, Canada


“The book is a refreshing booster to the world of Quality Management especially in the context of Banking and Financial Services. Concepts and terms like “Rapidness of Lean & robustness of Six Sigma to solve operational problems” “Hybrid methodology” resonate very well with what we do in the industry today. Another interesting fact about the book is applying “Dynamic Capabilities approach” to Quality Management, that sets a fresh Quality Oven and ensures this book is definitely a good investment of authors’ intellect.Best part – Even if a reader is new to the world of Quality,this book will be appropriate and resonating. For Researchers and Practitioners, both being leaders orfresh entrants, this book stands out to be a must-read, as it demonstrates the success of the Lean Six Sigma methodologyv

LanguageEnglish
PublisherSpringer
Release dateMay 5, 2020
ISBN9789811538209
Lean Six Sigma in Banking Services: Operational and Strategy Applications for Theory and Practice
Author

Vijaya Sunder M

Prof. Vijaya Sunder M is currently an Assistant Professor at the Indian School of Business, Hyderabad, India. Previously, he was the Head of Business Process Excellence at the World Bank Group. Vijaya holds a Ph.D. in Operational Excellence from the Indian Institute of Technology (IIT) Madras, MBA from the Sri Sathya Sai Institute of Higher Learning and a gold medalist in Bachelor of Engineering from the Anna University. He is a Lean Six Sigma Master Black Belt, PMP, ISO 9001:2015 Quality Lead Auditor, and Lean Facilitator, with about 15 years of industry experience across global corporate that include Citi, American Express, Barclays and the World Bank. He has led and mentored various process improvement and transformation programs that helped improve both top-line and bottom-line impact across reputed service firms. His research and teaching interests include Operational Excellence, Project Management, Continuous Improvement, Quality Management, Lean, Lean Six Sigma, and Industry 4.0 in manufacturing and service sectors (especially services). Vijaya has authored two books and published more than 40 research papers in several reputed outlets, including the International Journal of Operations and Production Management, Technovation, International Journal of Production Research, IEEE Transactions on Engineering Management, and Journal of Business Research, Technological Forecasting & Social Change etc. Teaching case studies authored by him have been published in Harvard Business Education Publishing. Prof. Sunder M has been serving as the editorial advisory board member of the International Journal of Lean Six Sigma, and a reviewer for >20 international journals. He actively writes in national and international media, including Forbes, Fortune, The Business Times Singapore, Outlook India, Quint, The New Indian Express, The Hindu, The Hindu Business Line, and The Future Factory. He has been recognized with Walter E. Masing Book Award 2020 for his book Ten Commandments of Lean Six Sigma by Emerald Publishing and honored as a thought leader in the global quality management community by the International Academy for Quality. His other book, Lean Six Sigma in Banking Services, has received several appreciations from recognized quality management practitioners in the industry. He has been bestowed with the Highly Commended Paper Award 2017 and Outstanding Reviewer Award 2018 by Emerald Publishing (Emerald Literati Awards for Excellence). Further, he was conferred with the Best Researcher Award (IITM Institute Research Award for highest quality and quantity of research productivity) by IIT Madras in 2018, Bharat Vikas Award 2019 (for outstanding contributions in the field of Quality Management) by the Institute of Self-Reliance, approved by Human Resources Development Ministry, Government of India. Recently, the Indian School of Business recognized Prof. Sunder M as the Professor of the Year 2021.

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