Académique Documents
Professionnel Documents
Culture Documents
ON
SIX SIGMA
IN
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PREFACE
DEEPIKA SINGH
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ACKNOWLEDGEMENT
I would like to thank all my friends for their help and affectionate
encouragement. I want to thank my Parents for their support during
this study; it would have been impossible to pursue this study
without their care and support.
DEEPIKA SINGH
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CONTENT SHEET
Chapter No Topics
1 Preface
2 Acknowledgement
3 Executive Summary
4 Company Overview
12
Conclusion
13 Bibliography
EXECUTIVE SUMMARY
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BACKGROUND:
Research methodology:
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The proposed research is exploratory & research based. The
researcher try to achieve the objectives through self study,
interviews of concern people, internet etc. all the aspect of the
research is thoroughly covered with appropriate technical support.
Major Findings:
If the organization goes through Six Sigma in
their service provide pattern and documentation of their product
(mainly in insurance), it helps both consumer as well as the
organization.
COMPANY OVERVIEW
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The Bajaj Capital Group is one of India’s premier Investment
Advisory and Financial Planning companies. We are also SEBI-
approved Category I Merchant Bankers.
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THE HISTORY OF BAJAJ CAPITAL
1964
Bajaj Capital sets up its first Investment Centre™ in New Delhi to
guide individual investors on where, when and how to invest.
1965
Bajaj Capital is incorporated as a Company. In the same year, the
company introduces an innovative financial instrument – the
Company Fixed Deposit. EIL Ltd. (Oberoi Hotels, then known as
Associated Hotels of India Ltd.) becomes the first company to raise
resources through Company Fixed Deposits.
1966
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Bajaj Capital expands its product range to include all UTI schemes
and Government saving schemes in addition to Company Fixed
Deposits.
1969
Bajaj Capital manages its first Equity issue (through an associate
company) of Grauer & Wells India Ltd.; right from drafting the
prospectus to marketing the issue.
1975
Bajaj Capital starts offering 'need-based' investment advice to
investors, which would later be known as 'Financial Planning' in
the investment world.
1981
SAIL becomes the first government company to accept deposits,
followed by IOC, BHEL, BPCL, HPCL and others; thus opening
the floodgates for growth of retail investment market in India.
1986
Public Sector Undertakings (PSUs) begin making public issues of
bonds MTNL, NHPC, IRFC offer a series of Bond Issues. Bajaj
Capital is among the top ranks of resource mobilisers.
1987
SBI leads the launch of Public Sector Mutual Funds in India. Bajaj
Capital plays a significant role in fund mobilisation for all these
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players.
1991
SBI issues India Development Bonds for NRIs. Bajaj Capital
becomes the top mobiliser with collections of over US $20 million.
1993
The first private sector Mutual Fund – Kothari Pioneer – is
launched, followed by Birla and Alliance in the following years.
Bajaj Capital plays an active role and is ranked among the top
mobilisers for all these schemes.
1995
IDBI and ICICI begin issuing their series of Bonds for retail
investors. Bajaj Capital is the co-manager in all these offerings and
consistently ranks among the top five mobilisers on an all-India
basis.
1997
Private sector players lead the revival of Mutual Funds in India
through Open-ended Debt schemes. Bajaj Capital consolidates its
position as India's largest retail distributor of Mutual Funds.
1999
Bajaj Capital begins marketing Life and General Insurance
products of LIC and GIC (through associate firms) in anticipation
of opening up of the Insurance Sector. Bajaj Capital achieves the
milestone of becoming the top 'Pension Scheme' seller in India and
launches marketing of GIC's Health Insurance schemes.
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2000
Bajaj Capital implements its vision of being a 'One-stop Financial
Supermarket.' The Company offers all kinds of financial products,
including the entire range of investment and insurance products
through its Investment Centres. Bajaj Capital offers 'full-service
merchant banking' including structuring, management and
marketing of Capital issues. Bajaj Capital reinvents 'Financial
Planning' in its international sense and upgrades its entire team of
Investment Experts into Financial Planners.
2002
The company focuses on creating investor awareness for Financial
Planning and need-based investing. To achieve this goal, the
company introduced the International College of Financial
Planning. The graduates of this institute become Certified
Financial Planners (CFPs), a coveted professional qualification.
2004
Bajaj Capital obtains the All India Insurance Broking Licence.
Simultaneously, a series of wealth creation seminars are launched
all over the country, making Bajaj Capital a household name.
2005
Bajaj Capital launches 360° Financial Planning, a software-based
programme aimed at encouraging scientific and holistic investing.
2007
Bajaj Capital launches Stock Broking and Depository(Demat)
Services.
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2008
Bajaj Capital launches Just Trade, an online Platform for investing
in Equities, Mutual Funds, IPO's
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Company Profile
Bajaj Capital is one of India’s leading Financial Services
companies offering Free Advice on Investments, Insurance, Tax
Saving, Retirement Planning, Financial Planning, Children’s
Future Planning and other services. We also have a wide range of
products and services for Corporates, High Networth Individuals,
and NRIs… all under one roof.
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Objective of the Project
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INTRODUCTION TO SIX SIGMA
Six Sigma seeks to identify and remove the causes of defects and
errors in manufacturing and business processes.It uses a set of
quality management methods, including statistical methods, and
creates a special infrastructure of people within the organization
("Black Belts" etc.) who are experts in these methods.Each Six
Sigma project carried out within an organization follows a defined
sequence of steps and has quantified financial targets (cost
reduction or profit increase).
Why is it important?
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World-class companies typically operate at about four sigma or
99% perfection. To get to the six-sigma level means cutting down
on huge costs and thereby the wasted dollars. For example, if you
are four sigma - you would be producing products at the rate of
6200 defectives for every million you produce vs. 3.4 defectives if
you are at the six sigma level. Moreover, six sigma improvement
projects typically return in excess of $150k to $250k per project
with a Black Belt returning as much as $1 million to the bottom
line each year.
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• Define. The Define phase is concerned with the definition of
project goals and boundaries, and the identification of issues
that need to be addressed to achieve the higher (better) sigma
level.
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Six Sigma aims at reducing variations in a business
and manufacturing process via dedicated improvements in the
various processes. This requires a sustained commitment from all
members of the organization.
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approach, the actual problem is converted in to a statistical
problem. This is done by mapping the process, defining key
process input variables (KPIVs or ‘x’s) and key process output
variables (KPOVs or ‘y ’s). The power of statistical tools is used to
determine a statistical solution.
This is then converted in to a practical solution.
Company, as a financial
planner offer a host of
products from auto
insurance to retirement
solutions of different
companies
CUSTOMER
APPROACH
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There is no separate
advisor for different
company’s product
Customer may
get confused
No
If customer is
satisfied
Take the
policy
DOCUMENTATION
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Six Sigma in Bajaj Capital
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The process of six sigma in BAJAJ CAPITAL can be applied
through DMAIC methodology. The various steps involved in the
process of implementation are:
Define:
PROBLEM STATEMENT
PROJECT OBJECTIVE
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Use separate advisor for different companies product
according to need of customer.
Measure:
Analyze:-
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Improve:
The next step is to study the impact of the critical input variables in
the existing process. As we all know that after implementing six
sigma exercises, all the process will go smooth and the better result
come in our hand. Through the software and some of the
technology, we are trying to implement six sigma in the Bajaj
Capital.
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SOME OF THE TECHNOLOGY:
Control:
The last phase of DMAIC is the Control phase. It helps ensure that
variations in the processes are rectified before they have a negative
effect. Controls can be used to ensure sustained improvements in
new processes and operating procedures.
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PROCESS FLOW CHART (After Six Sigma Implementation)
Company, as a financial
planner offer a host of
products from auto
insurance to retirement
solutions of different
companies
CUSTOMER
APPROACH
Customer mayn’t
get confused
No
Take the policy
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Yes
Go for other
company
DOCUMENTATION
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BENEFITS
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feelings for rendering the level of services promised to
policyholders, clients, and prospects.
SWOT Analysis
Let's analyze the position of Bajaj capital in the current market set-
up, evaluating its strengths, weaknesses, threats and opportunities
available:
Strengths:
Weaknesses:
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2. Not a global player in spite of huge volumes.
3. Not a globally recognizable brand
Threats:
Opportunities:
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CONCLUSION
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.
Select Bibliography
Books:
Magazines:
Website:
• www.marketingterms.com
• www.google.com
• www.ask.com
• www.bajajcapital.com
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