In today’s environment, earning advanced degrees and certifications has become increasingly important and often is required to remain competitive and advance your career. Gaining the best mix of complementary skills is also important and can be a great selling point to potential employers. Let’s break down the nuts and bolts of the MBA degree and Six Sigma certification and explore why they make a perfect pair!
Why an MBA?
The MBA degree covers essential business and management topics and skills. Coursework, case studies, and team projects provide experience and knowledge in a variety of industries, cultures, and business strategies, with a focus on multi-disciplinary problem solving. Subject areas explored by the MBA curriculum include the following:
- Accounting and finance
- Business analytics
- Leadership and entrepreneurship
- Global business management
- Marketing management
- Operations and supply chain management
Although earning an MBA may be hard work, involve a major learning curve, and require a significant time and financial commitment, the degree is still valued in the marketplace, can open a lot of doors, and offers a strong return on investment.
Why Six Sigma?
Six Sigma certification provides a strong proficiency to improve business and production processes by utilizing proven tools and analysis techniques. Similar to the MBA, Six Sigma certification can be applied in a wide array of sectors, such as operations, manufacturing, customer service, and project management.
The principles of Six Sigma are executed through methodologies, or roadmaps to improvement, such as a workflow. One of the primary methodologies is DMAIC, which focuses on incrementally improving existing processes:
- D: Define customer needs, requirements, and project goals.
- M: Measure the key aspects of the current process by collecting data on how it performs.
- A: Analyze data to see what types of errors occur and where they occur so you can target the largest categories of errors and find ways to reduce them.
- I: Improve processes. Test and verify that the improvements work.
- C: Control future process implementations to ensure that errors don’t creep in again.
The Six Sigma methodology and its tools offer a proven way for leaders to challenge the status quo and utilize a specific set of data-driven, process improvement skills to lead cross-functional teams in solving important business problems.
Why Both?
Successful leaders need to approach business problems and solutions from many angles, understanding the impacts to both the immediate area affected and the larger organization. MBA programs help build knowledge in the nuts and bolts of business areas such as operations, marketing, finance, and strategy, as well as communication skills, negotiation tactics, and data analysis.
Many new and upcoming business trends can leverage this multi-faceted approach, including the following:
- AI integration and digital transformation: Artificial intelligence and new digital tools are being implemented for various uses including predictive analytics, customer service, and supply chain.
- Agile and Lean Six Sigma: Combining Agile with Lean Six Sigma allows additional avenues for efficiency and improvement.
- Sustainability: Companies are prioritizing environment-friendly practices and sustainable processes.
- Data science: Data scientists are helping companies to collect, organize, analyze, and interpret data to help drive organizational decision-making processes.
If you would like to learn more, here are some resources:
- American Society for Quality (ASQ): What Is Six Sigma?
- Lean Six Sigma Institute: Lean Six Sigma Certification Program
Thinking of applying to business school? Connect with Stratus for a free consultation to discuss where you are now and where you see yourself in a few years.