Exploring Six Sigma Practices, Critical Success Factors and Business Performance in the Indian Banking Sector
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Abstract
The present research presents application of Six Sigma applications practices and their effects on business performance of the selected Indian banks. It additionally finds the critical success factor of Six Sigma and its effect on the success in Implementing Sigma and tests its relationship with the business performance of surveyed Indian banks. For the ascertainment of the objectives, the study used the information gathered by a survey questionnaire from 120 respondents from selected Indian banking organizations by using a convenient sampling technique. Arithmetic average and measure of dispersion examination was employed to report the extent of Six Sigma application and its critical success factor as well as business performance. Regression statistics and correlation analysis were applied to test the proposed assumption and conceptual model. The study findings reports surveyed Indian banks as concentrated to apply Six Sigma practices and its application revealed a potential improvement in business performance. The critical success factors of Six Sigma were also positively influenced on implementing Six Sigma successfulness and altogether these factors were indicated a positive relationship with the business performance of surveyed banks in India. The study from the empirical findings effectively tested and shielded the proposed model. The study provides implications for banking organizations to adopt Six Sigma practices cautiously and improve in its critical factor to remain competitive in the contemporary industrial setting.