5 Questions
What is the goal of Six Sigma?
To achieve a level of quality with only 3.4 defects per million opportunities
What is value innovation?
When innovations push out the efficiency frontier in an industry, allowing for greater value to be offered through superior differentiation at a lower cost
What are Economies of Scale?
Reductions in unit costs attributed to large output
What is one source of scale economies?
Cost reductions gained through mass-producing a standardized output
What is the ideal defect rate targeted by Six Sigma?
3.4 defects per million opportunities
Test your knowledge of business improvement methodologies with this quiz. Learn about Six Sigma and value innovation, and understand how they can help improve business processes and drive quality and efficiency.
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