Sunday, June 24, 2007

Revenue or Cost

From Financial Services Six Sigma:

Revenue or Cost?
I spent over seven years in manufacturing before making the transition to healthcare and then finally to financial services. My first job after finishing an engineering degree, with GE Plastics, was to try and determine how to increase output. Fast-forward to my last two years at GE and I was an MBB managing a $50 million dollar year-over-year cost reduction budget. Six Sigma, in the world of manufacturing, and to some extent healthcare, was about cost reduction. So when I made the shift to financial services it took a while to realize that cost reduction was not the best Six Sigma strategy. Revenue enhancement projects were significantly more rewarding (financially), and easier to identify. Read more here:

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