Title: Lean Six Sigma deployment in BFSI sector: synthesising and developing customer value creation models
Authors: Pankaj M. Madhani
Addresses: ICFAI Business School (IBS), IBS House, Opp. AUDA Lake, Science City Road, Off. S.G. Road, Ahmedabad, 380-060, India
Abstract: The banking, financial services and insurance (BFSI) sector has faced fierce competition and such competitive pressure forces BFSI sector firms to improve their business processes for better performances. It is against this backdrop that Lean Six Sigma (LSS) has emerged as a vital tool as it helps firms in building and strengthening customer relationships by delivering improved customer service at the lowest cost. LSS deployment in BFSI sector firms increases service efficiency and effectiveness which in turn enhances overall customer value provided by firms. This research focuses on LSS deployment in BFSI sector and provides various frameworks and models for synthesising and determining value creation for both customers and organisations.
Keywords: lean; Six Sigma; Lean Six Sigma; LSS; banking; financial services; insurance; BFSI; customer value creation.
International Journal of Electronic Customer Relationship Management, 2018 Vol.11 No.3, pp.272 - 314
Received: 16 Apr 2018
Accepted: 11 May 2018
Published online: 19 Jul 2018 *