Mr. Parag Mehta

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About Mr. Parag Mehta

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  • Birthday April 30

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    Benchmark Six Sigma
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  1. In a competitive business environment, people refrain from purchasing products toward which they are ambivalent or hold negative evaluations. This makes customer satisfaction very imperative. However, in a less competitive environment, the importance of customer satisfaction decreases as the firms have increased bargaining power. For e.g. consider you are dissatisfied with the services of any Airline. However, in purview of your convenience, schedule, availability of seats and substantial difference in pricing you might still opt for the same one. Do oligopolistic and monopolistic firms have a leeway when it comes to meeting customer satisfaction and/or service recovery to pacify the dissatisfied customers?
  2. Brilliant video. Summarizes so many aspects; Confirmation bias, Placebo, Statistical Vs Practical significance, Ethics, etc.
  3. These food defects at the permissible levels have been stated as non-hazardous to humans. The only consolidation here is that the FDA claims the average of these defects to be very less than the permissible limits. Also the word "Natural and unavoidable" is being highlighted because it is economically impractical to grow, harvest, or process raw products that are totally free of non-hazardous, naturally occurring, unavoidable defects. The FDA has given thought to update the defects and their levels with advancements in technology and testing methods/techniques. However, time being, this sure does makes me think twice before I have chocolate.
  4. Majority of Six Sigma projects focus on cost reductions, resulting in hard savings. Corporations prefer seeing financial savings as the bottom line and are cautious addressing the intangibles associated with soft savings. (Soft savings are financial benefits that may occur as a result of a Six Sigma project, but might not be attributed as a direct outcome of the project). How important it is do understand the value of soft savings rather that the preferred option of calculating a dollar/rupee impact? In the long term can all soft savings translate to hard savings?