ISLAMAJ, Blerim (2021). Evaluating lean six sigma implementations in financial services using soft system methodology. Doctoral, Sheffield Hallam University. [Thesis]
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Islamaj_2021_DBA_EvaluatingLeanSix.pdf - Accepted Version
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Islamaj_2021_DBA_EvaluatingLeanSix.pdf - Accepted Version
Available under License Creative Commons Attribution Non-commercial No Derivatives.
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Abstract
This thesis explores Lean Six Sigma (LSS) implementations in financial services by
using Soft System Methodology (SSM). Financial Services are among the top five
contributors in world economies. They currently operate in a challenging market and are
under tense pressure to innovate and stay competitive. By nature, financial services, are
bound by time in terms of processes that lead to an outcome that benefits customers. To
maintain the competitive advantage, they must minimize the operational inefficiencies
by adopting the different qualitative initiatives. One of the most prominent initiatives
applied in financial services last two decades is Lean Six Sigma.
The research revealed the LSS is much appreciated in financial services. During
empirical analysis, the researcher managed to bring forward the main stakeholders
involved, reasons why LSS was triggered to start, and identified some of the issues
associated with these projects. Among many tools, Kaizen events were considered the
most efficient approach of LSS, whereas the improvement stage of the methodology
was occasionally perceived as a daunting task.
The participants involved in the primary research were from Banks, Fintech, and Shared
Service Centers. They were representatives of financial services located primarily in
Europe and Asia as well. The research provided a holistic view of LSS projects in
financial services following the Soft System Methodology approach. Findings went
beyond from general barriers mentioned in the literature. While the commitment from
Top Management or other important stakeholders is the main reason for the success of
LSS, the empirical research underpinned the exact areas where the commitment has
mainly to come from. The study informs the practitioners that before starting the LSS
project, they have to ensure full ownership in all D-M-A-I-C stages. This would come
from commitment or a more flexible and agile mindset between the LSS project team
and IT to implement the changes. Research findings move the LSS beyond the cliché of
manufacturing reference.
The research showed that the use of SSM as an interpretative approach for evaluating
participants' perceptions in LSS projects was highly valuable. It also provided additional
insights that practitioners can leverage SSM as a problem identification method in the
future. Synergies between the soft system thinking principles of SSM in having a practical SSM standalone methodology or blended Soft Six Sigma, Soft Agile, and LSS
Agile provided additional lenses for future academic and practitioner's researches.
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