Have you ever dealt with stubborn and recurrent problems that refuse to go away? No matter what you do to solve it, sooner or later, it arises in another form. If yes, then get ready; these are the symptoms of some deeper issues in your operational environment. In such cases quick fixes are convenient, [...]
The histogram looks very similar to bar graphs, but there is one outstanding feature that differentiates them. In bar graphs, the bars are separated by continuous intervals, but the bars of the histogram are not separated and always touching. Further features of histograms are that the x-axis is measured in ranges to define various [...]
A scatter graph (also called a scatter plot or scatter chart) is a kind of graph or mathematical diagram which uses Cartesian coordinates to present values for two variables or a set of data. It illustrates how much one variable correlates by the other. Correlation is the relationship between two variables. Scatter graphs are [...]
Root cause analysis (RCA) is a method of problem solving used for identifying the root causes of faults or problems. A factor is considered a root cause if removal thereof from a problem or fault sequence prevents it from recurring; whereas a casual factor is one that affects an event’s outcome, but is not [...]
A Statutory Audit is the authorized official inspection of a company’s accounts usually by an independent body. It is the audit of records of accounts of a company, according to the rules and requirements of an act or law, to guarantee fair and correct representation of the company’s financial records. The use or reason [...]
Why is problem solving important? Good problem solving skills empower you not only in your personal life are critical in your professional life. In the current fast changing global economy, employers often identify common problem solving as crucial to the success of their organizations. For employees, problem solving can be used to develop practical and [...]
In this growing competition, there is an increased demand of high quality and service on small businesses. The best way to enhance customer satisfaction is through implementation of a Quality Management System (QMS) in the industry, irrespective of its size. The implementation of ISO 9001 for small businesses is considered to be a distress [...]
Failure Mode and Effects Analysis (FMEA) is an organized methodology to determining possible failures that may occur within the design of a product or procedure. Failure Modes are the means in which a process can be unproductive while Effects are the means that these failures can lead to defects, waste or harmful outcomes for [...]
Impact assessment is the way of checking and mapping the activities of an organization as well as determining the importance of changes that are carried out due to those activities. It is a strong mean of communication between the external and internal environment of an organization. The purpose of impact assessments is to analyze [...]
Presently, the need to manage risks has become recognized as an important element of an effective company or business. This has placed many organizations under high pressure to recognize all the business risks they face and to clarify how they control them. One of the processes that are involved in managing risks and have [...]
