Dmaic Method Process Improvement Wells Fargo Case Study Research Paper

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Identify a process within your organization that requires improvement. Explain how using the DMAIC method differs from how improvements are currently made.
I currently work in the financial services industry which requires a large amount of improvement form the larger more establish players in the industry. I worked as personal banker at Wells Fargo. Here the company was heavily bombarded with large sales incentives the ultimately undermined the integrity of the organization. For one, the process involved a clear sales incentive that encouraged personal bankers to engage in nefarious actions such as opening accounts that where not requested or provided products that where ill-suited for the customer.
The DMAIC method differs materially from the improvement that where currently made. When I was working in the organization, the improvements where related to ignoring the underlying issues within the organization. For example, as a personal banker, I was tasked with selling a certain number of products to customers irrespective of their suitability. My monthly wages, salary, and bonuses where based on sales. Management was reluctant to change the overall culture as their salaries too where predicated on sales figures irrespective of if these products…

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…mitigate any fraudulent behavior on the part of personal bankers.

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Next, the organization improve operations by instituting initiatives designed to lesson the sales pressures that many employees face. Likewise, the organization is redesigned to review the long-term needs of the customer as oppose to making short term sales figures. Finally, controls are put into place to ensure that the egregious issues plaguing Wells Fargo do not occur again in the future (Gitlow, 2001).
This method differ from how other designs are made as the changes where heavily based on data, data analytics and qualitative measures that are not defined by numerical….....

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