[DOCUMENT TITLE]
[Document subtitle]
[DATE]
[COMPANY NAME]
[Company address]
DISCLAIMER
The following document has been compiled with the inputs from the current students and makes
only for a suggestive list. The actual interview questions may be entirely different from these and
could be based on the interviewee’s background. We suggest all the candidates to use this
document as a reference and try to come up with questions relevant to their profiles.
Apart from the suggested questions here, the general interview tips on the way of presentation,
being confident about the answers, and so on should be kept in mind. We suggest a couple of
mock interviews would help get over any initial hiccups.
We wish all the best to the candidates!
Analytical Writing Test (AWT)
Mentorship Cell | 2022-23
1|Page
How to use this guide?
This guide is for reference purposes only. The actual interview questions may or may not be similar
to the ones listed ahead. This kit is not exhaustive, but is intended to provide a direction to
aspirants.
AWT Tips
1.
2.
3.
4.
5.
6.
Read the passage carefully to understand the essence of what is being said.
Spend some time in identifying the flaws in the arguments.
Do not make any extreme statements. Pack arguments up with proper logical reasoning.
Be clear, concise and coherent. Do not make ambiguous claims.
Keep spellings and grammar in check.
Your AWT may be discussed in the interview. Make sure you can defend your arguments.
AWT Prompts
1. All your life you have been asked to be honest. But deception is not always wrong as some
researchers in Wharton have pointed out. Lies have helped to build long term connections,
businesses, relationships based on trust. We should teach our children, employees and
teachers to make use of lies. Analyse the argument stating your opinions / counter points.
2. A friendship can prove to be toxic if one friend is giving and another is taking. When one
person shares his feelings and ignores another person’s emotions, that friendship can never
be true. In light of this statement, share your opinions to support the statement. Also
provide reasons to counter this argument.
3. XYZ wants to pursue further studies right after graduation but their father wants them to
gather some work experience first and then decide. XYZ feels that delaying masters is a
waste of time and one can earn more after it. Their father, on the other hand, says that
everyone who has been successful after a masters had work experience before it. Analyse.
4. A picture of the Mangalyaan celebrations with women in the centre of the picture. What do you see in this
picture? Do you see any stereotypes being challenged?
5. 3 of the top 4 wicket takers in Test Cricket (Warne, Kumble and Muralitharan) are
spinners, out of which Kumble and Warne are wrist spinners, and Muralitharan, while
recognized as an off-spinner, has a peculiar action similar to a wrist spinner. Hence, wrist
spinners in general are better than other types of bowlers.
When comparing GOATs among any sport, we have a tendency to compare their statistics,
however, there are other non-numeric factors such as pitch conditions, quality of
opposition, match situation etc. Should they also be somehow factored in?
Mentorship Cell | 2022-23
2|Page
Personal Interview (PI)
PI Tips
1. Give authentic and honest answers. Personalise your responses to fit into your story.
2. Be well-aware about the place that you belong to, current location, college, organization,
etc. Prepare your resume well.
3. It is okay to not know the answer to a question. Stay calm, confident and polite.
Note: All questions may not be relevant for all candidates. Interviewers tend to follow a line of
questioning and carry the interview forward based on the answers that a candidate gives. However,
your interview may be different.
HRQs
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
Tell us something about yourself that’s not mentioned in your form.
Why MBA and not a masters in your undergraduate field/family business?
What are your short and long term goals?
Why do you want to study at IIMA?
You've already been working for 3 years, why don't you work a couple of more years and
go for the PGPX course?
Describe an incident that has had a deep impact on you. How did it change you?
What is your idea of success?
What did you like/hate about your job?
If you had to work with one company for 10 years, which company would you choose and
why?
How will your background help you in an MBA?
ACADEMICS
Tips
1. Know both, the basics and the latest developments in your field.
2. Mathematical questions can be asked to anyone, irrespective of one’s field.
Computer Science Engineering
1. What is Heap? How to represent Heap? How would you represent Heap as an array?
How would you verify if an array is Heap? How to rearrange it? What are the time
complexities associated?
Mentorship Cell | 2022-23
3|Page
2. Write Recursive functions for Factorial and Fibonacci. Calculate the number of recursive
calls in both. Now compare it with the brute force method. How do you improve this
algorithm?
3. Can you write the algorithm for determining a palindrome?
4. What is Object Oriented Programming?
5. What is BCNF?
Electronics
1. What is XNOR? Draw its truth table.Write the boolean expression of XNOR. Can you
draw XNOR using NOR gate?
2. Explain the Fourier Transform. What are it’s applications? What is the difference
between Fourier Transform and Fourier Series.
3. Draw the circuit of a full wave rectifier & explain how it works.
4. What is Principal component Analysis ?
5. What is a BJT? Where is it used?
Economics
1. What is the relationship between the interest rate and inflation in a country?
2. What is Keynesian economics? And why is it used more widely than other schools of
thought?
3. Effects of Taxes and Subsidy and control on pollution.
4. What is the relationship between price and demand? Explain with a graph.
5. Explain the IS-LM model.
Finance:
1. Should you invest in the Indian stock market today? What is one metric that you would
use to invest in the current market conditions?
2. What are some methods to Value a firm? How do you value a firm’s equity? What’s the
difference between the Value of a firm and the Value of Equity? Can dividends be used
to calculate the value of a firm?
3. How do you measure a firm’s growth rate?
4. Explain the Black Scholes Model.
5. What are the 3 financial statements? Explain each of them. Draw the format of a balance
sheet
Fashion
1. Why are prominent fashion designers like Sabyasachi Mukherjee and Tarun Tahiliani
partnering with retail brands?
2. What were the provisions for the apparel and textile industry in this year’s union budget?
3. What advantages does China have, as compared to India, that make it the bigger
manufacturing hub for apparel?
Mentorship Cell | 2022-23
4|Page
4. In what ways will the adoption of 3-D printing in fashion affect the labour force?
5. How is the application of technology helping the industry move towards more
sustainable practices?
Law
1. What is the structure of the Judiciary in India? Who is the CJI and how is he/she
appointed? Should India have multiple benches of the Supreme Court?
2. What is the difference between common law and civil law? Which system does India
follow?
3. What are the essentials of a valid contract? When is a contract void and when is it
voidable?
4. What are fundamental rights? Can they be enforced against private individuals/entities?
Agriculture
1.
2.
3.
4.
Cropping systems
Value chain of certain commodities
Why are GMOs not fully-fledged and adopted in India?
Designing experiments for testing the effects of agrochemicals.
Mathematical
1. Name some distributions. What is Normal distribution? Draw it. What are the x and yaxis of the curve? What are the characteristics of a normal distribution? What is Mean?
What is Median? Why don’t we use Median instead of Mean in the normal distribution?
Which is a better measure, mean or median?
2. Define probability without using the words likelihood, outcome or chance.
3. What is Expected Value? Why do we call it as expected? Take a village where 60% of
people have 1 kid and 40% have 2 kids. What is the Expected value of kids?
4. What are Variance and standard deviation? What’s the formula for Variance? Why do we
square the deviations in the Variance? Why can’t we take the absolute value for
calculating the variance?
5. How would you remove noise from datasets?
6. What is the formula for calculating the sum of a GP?
7. There are 25 contestants, 5 can race at a time. How many races are required to find out
the top 3?
8. Can you look at a graph and tell if it is differentiable?
9. What is factorial? Why both 0! and 1! are equal to 1?
10. I have a coin which shows heads with a probability of 0.8. I toss it 10 times and obtain 3
heads. What is the probability that the first toss was a head?
Mentorship Cell | 2022-23
5|Page
Mechanical:
1. Draw a schematic of the power plant. How does the turbine convert the energy? Explain
it to a layman. How the supply-demand of electricity is managed.
2. So, you mentioned load bearing structures. Can you tell the difference, if there exists any,
between a beam and a truss. Have you been to Howrah bridge? What does it have?
Work or Entrepreneurial experience
1. What do you do at your current job? Tell us about your projects/responsibilities
2. What is the decision-making process that you follow?
3. Who are your company’s competitors? Compare the foreign and domestic players in your
market.
4. Tell us about your business idea. How will you pitch your product on the show Shark
Tank?
5. Which technology does your organization use? Are there newer technologies available?
Why aren’t you using them?
Hobbies
1. Which F1 team do you support? Tell us about the aerodynamics of the F1 and its use.
What is a drag race?
2. Do you watch cricket? What are the important matches going on currently? Tell us more
about Australia's performance against Pakistan. Where is the world's largest cricket
stadium located? And where is the smallest one?
3. Which movie has won the Oscar for best movie this year and have you seen it? What’s
different about CODA than other usual Oscar winners? How many movies are successful
in a particular year?
4. You read poems. Can you recite one for us? Why did you choose this?
5. Which was the last book you read? What did you learn from it?
Current Affairs
1. Do you know about the Russia-Ukraine conflict? Name their currencies. Name some
neighbouring countries of Ukraine where people are migrating to. Which country is
supporting Russia? Is India’s neutral stance justified?
2. Which countries are manufacturing chips? Why is India not manufacturing them? What
problems are we facing due to this?
3. Who is the Governor of West Bengal?
4. Tell us about the Zomato-Blinkit merger. Why do you think companies go for mergers?
5. Tell us about a socio-political issue which you read about recently.
Mentorship Cell | 2022-23
6|Page
Miscellaneous
1. (To a candidate from Kolkata) Where would you take me to in Kolkata? Where would you
take me to in Karnataka & Tamil Nadu? Tell me five big cities of West Bengal. Tell me
some industrial cities of West Bengal.
2. What does your name mean? How does that relate with your personality?
3. What is the difference between Colleagues and friends?
4. Explain your undergraduate degree to me like I am a five year old.
5. If you had to travel to Shanghai from Gurgaon via road, what is the shortest route you can
take? Okay, what is the shortest distance between India and Sri Lanka in kilometres?
6. Guesstimate the number of Kapoors in Mumbai.
7. Who is Gita Gopinath? Who is Raghuram Rajan?
8. You’re from Odisha, right? What's the largest river in Odisha? How old is Odisha? What
was it called earlier? Why did they change the name?
9. Have you watched Padmaavat? If yes, who were the kings who fought the battle?
10. Assume I am a CEO. Tell me why I should not hire a management consultant from a toptier firm.
FUNDAMENTALS
Economics
Key terms:
Microeconomics: the branch of economics that deals with decisions made by individuals and
firms to use the resources and the interactions between them for utilization.
Macroeconomics: the branch of economics that deals with the aggregate behaviour of and the
factors that drive the economy (regional, national or global) as a whole represented by performance
parameters such as inflation, GDP, national income, price levels, etc.
Opportunity Cost: The value or benefit that a person forgoes to pursue the current opportunity
or the value of the best alternative opportunity an individual would have pursued had it not been
the one he/she is working on
Sunk Cost: The amount of money already spent and cannot be recovered in the future
Capitalist Economy: the economy where the decisions about what to produce, how much to
produce, and the price at which to sell is solely taken by the market or the private enterprises in
the system and the state has no economic role.
Mentorship Cell | 2022-23
7|Page
State Economy: the economy where the decision about production, distribution, supply, and
price are solely taken by the state.
Mixed Economy: It is the economy where some elements of the economy are controlled by the
state and the rest of the elements are regulated by the market. It is the combination of a capitalist
economy and a state economy.
National Income: Income of the Nation can be calculated in four ways: GDP, NDP, GNP,
NNP:
GDP (Gross Domestic Product): the value of all the final goods and services produced
within the boundary of the nation in a period (usually 1 year). It is the summation of
national private consumption, gross investment, government spending, and trade balance.
NDP (Net Domestic Product): the value after deducting the depreciation of the goods
and services produced from the GDP.
GNP (Gross National Product): the summation of the GDP of a nation and the income
of the nation from outside of the nation. GNP indicates both the quantitative and
qualitative aspects of the economy.
NNP (Net National Product): the GNP minus the depreciation of the goods and
services produced in the economy.
Inflation: the quantitative measure of the increase in the general price level of goods and services
which results in the decrease of the purchasing power per unit of a currency.
Stagflation: the situation of an economy when inflation and unemployment both are at higher
levels that are opposite to the conventional situation. The conventional belief is that a trade-off
exists between inflation and the unemployment rate according to Phillips Curve.
GDP Deflator: It is the measure of periodic price behaviour of goods and services. It is the ratio
of GDP at current price and GDP at constant price usually chosen for a base year.
Fiscal Policy: The policy undertaken by the government to regulate the nation’s economy,
monitored by the government’s adjustment in spending, taxation and subsidies.
Monetary Policy: The policy undertaken by the central bank of the country by regulation of price
stability and money supply and inflation rate to achieve the macroeconomic objectives.
Cash Reserve Ratio: Cash Reserve Ratio is the mandatory percentage of share a bank has to keep
with the Reserve Bank of India in liquid cash to combat inflation and keep the liquidity in check.
SLR: Statutory Liquidity Ratio is the share of a bank’s deposits kept with RBI in the form of
Liquid assets to ensure the bank’s solvency and money flow in the economy.
Bank Rate: Based on the monetary policies, commercial banks can borrow loans from the central
bank. The interest rate charged by the RBI on these types of loans and advances to the banks is
known as bank rate.
Repo Rate: Repo rate is the interest rate at which RBI lends money to the banks for a short term.
With the help of Repo Rate, RBI can regulate the inflation and liquidity of the economy of the
country.
Mentorship Cell | 2022-23
8|Page
Reverse Repo Rate: Reverse Repo Rate is the rate at which commercial banks give loans to the
RBI. Reverse Repo Rate helps to regulate the money supply in the economy.
Direct Taxes: The tax amount levied directly on an individual or organization’s income or
property by the imposing body. It is based on the principle of ability-to-pay, which means the
entity with more resources has to pay more amount of tax. Examples of Direct Taxes are income
tax, wealth tax, property tax, corporate tax, etc.
Indirect tax: It is the tax collected by an intermediary and paid to the government by passing the
tax burden on the consumer buying that good or service. It is the tax imposed on the goods and
services instead of on a person or organization’s income, earnings, or property. Examples of
Indirect tax: Value Added Tax, Customs Duty, Service Tax.
Goods and Services Tax (GST): It is a destination-based indirect tax that is imposed on the
value addition at each stage till the final sale to the consumer. It has replaced many indirect taxes
in India.
Concepts worth reading in-depth:
•
•
•
Demand-Supply curve
Price Elasticity of Demand
Marginal Utility
Finance
Key Terms:
Asset: A resource with a value that an individual, corporation, or country owns or controls with
the expectation that it will provide a future benefit.
Real assets: assets used by the company in its regular business to generate profits. For example,
land, building, raw materials, finished products, etc. They may be tangible (assets that physically
exist e.g., machinery and buildings) or intangible (assets that do not physically exist e.g., goodwill,
trademarks, brand names, etc.)
Financial assets: assets issued by the company to generate money to buy real assets. There are
basically of 2 types i.e., shares and bonds. Share/Stocks/Equities give ownership to the business
which is not the case with bonds (they are debt instruments)
Liability: This is a company’s legal debts or obligations that arise during business operations.
Liabilities are settled over time through the transfer of economic benefits including money, goods,
or services.
Debt: It is the money borrowed by one party from another. Many corporations/individuals use
debt as a method for making large purchases that they could not afford under normal
circumstances. A debt arrangement gives the borrowing party permission to borrow money under
the condition that it is to be paid back later, usually with interest.
Mentorship Cell | 2022-23
9|Page
Credit: A contractual agreement in which a borrower receives something of value now and agrees
to repay the lender at some future date, generally with interest.
Debit: An accounting entry that results in either an increase in assets or a decrease in liabilities on
a company’s balance sheet or in your bank account.
Depreciation: Depreciation is defined as the measure of the wearing out, consumption, or other
reduction in the useful economic life of a fixed asset, whether arising from Efflux (passage) of
time, or Obsolescence through technological or market changes.
Financial Statements:
Balance Sheet - The Balance Sheet shows a company’s assets, liabilities, and equity. It can be
viewed as a statement of sources and usage of funds. The Balance Sheet summarizes a
company’s assets, liabilities, and shareholder’s equity at a particular point in time. It presents a
snapshot of the financial position of the company. It is based on the following accounting
model:
Assets= Liabilities + Shareholders Equity
• Assets are of two types:
(i) Fixed assets- Assets that are purchased for the long term. E.g.- Building, Land, etc.
(ii) Current assets- Assets that can be quickly converted into cash. E.g.-Cash and cash equivalents
(Mutual Funds).
• Liabilities are obligations of the company, payable to another entity. Liabilities are incurred to
fund the ongoing activities of a business. If the obligation is due within short period, it is
classified as a current liability.
• Shareholder’s equity represents the amount of business holdings that aren’t purchased using
debt(loans).
Income Statement - Income Statement reports how much revenue the company generated, the
expenses it incurred and the resulting profits or losses during a period (usually the financial year).
The basic equation underlying the income statement is:
Revenue – Expenses = Income
• Revenue which is also known as “Top Line”, is the amount of money the company receives
during the period.
• Expenses are summarized and charged in the income statement as deductions from the income
before assessing income tax.
• Income is the increase in the net inflow of cash and other assets during an accounting period.
Cash Flow Statement - The Cash Flow Statement provides information about the cash flows
associated with the period’s operations and about the entity’s investing and financing activities
during the period. The cash flow statement tabulates how much cash is coming into the firm and
going out of the firm.
Analytics & IT
Mentorship Cell | 2022-23
10 | P a g e
Uses of data analytics:
•
•
•
•
Improved decision making: Companies can use the insights they gain from data analytics
to inform their decisions, leading to better outcomes.
More effective marketing: Data analytics also gives you useful insights into how your
campaigns are performing so that you can fine-tune them for optimal outcomes.
Better customer service: Data analytics provide you with more insights into your
customers, allowing you to tailor customer service to their needs, provide more
personalization and build stronger relationships with them.
Efficient operations: Data analytics can help you streamline your processes, save money
and boost your bottom line.
Types of Data Analytics:
•
•
•
•
Descriptive Analytics: the process of using statistical techniques to describe or
summarize a set of data.
Diagnostic Analytics: involves diagnosing why things happened the way they did. It
usually involves comparing two or more datasets, so as to identify any correlations, and
potential causes of an event.
Predictive Analytics: type of data analysis which focuses on making predictions about
the future based on data.
Prescriptive Analytics: the process of using data to determine an optimal course of
action. By considering all relevant factors, this type of analysis yields recommendations for
next steps.
Key Terms:
Business Analytics: a set of data analysis practices, tools, and services that help you understand
both what is happening in your business and why to improve decision-making and help you plan
for the future.
Cloud Computing: providing computing resources and services such as servers, storage,
databases, networking, software and analytics over the Internet (cloud) to offer faster processing,
flexible resources, and economies of scale. It helps you to lower your operating costs, run your
infrastructure more efficiently and scale as your business needs change. Types of clouds include
public clouds (provided by third party), private clouds (owned and used by the organisation itself)
and hybrid clouds (combination of public and private). They can be provided as Infrastructure as
a Service (IaaS), Platform as a Service (PaaS) and Software as a Service (SaaS).
Big Data: a collection of data that is huge in volume yet growing exponentially with time. It is
data with so large size and complexity that only some of the traditional data management tools can
store it or process it efficiently. It can be classified as Structured, Unstructured and Semi-Structured
based on the organisation of the data. Big Data is typically characterized by 4Vs (Volume, Variety,
Velocity, Veracity).
Mentorship Cell | 2022-23
11 | P a g e
Artificial Intelligence: the branch of computer science dedicated to building algorithms and
smart machines capable of performing tasks that typically require human intelligence.
Machine Learning: a method of data analysis that automates analytical model building by
learning from data, identifying patterns, and making decisions with minimal human intervention.
The techniques/algorithms are Supervised learninVg, Semi-supervised learning, Unsupervised
learning and Reinforcement learning. Currently popular models include linear regression, logistic
regression, decision trees, neural networks, k-means clustering.
Blockchain: a decentralized, immutable ledger formed by sharing resources among various users
that can record transactions after verifying authenticity using multiple algorithms. Major
applications include cryptocurrency, logistics, smart contracts etc.
MARKETING
What is Marketing?
“Marketing is a social and managerial process by which individuals and groups obtain what they
need and want through creating and exchanging products and value with others” - Philip Kotler.
Marketing vs. Sales
Source: leadsquare
Mentorship Cell | 2022-23
12 | P a g e
Segmentation, Targeting, and Positioning (STP)
Segmentation: Market Segmentation is the division of a broad market into tiny segments
comprising individuals who think along the same lines and are inclined towards similar products
and brands.
Targeting: Devising various marketing strategies and promotional schemes according to the tastes
of the individuals of a particular segment is called Targeting. Once market segments are created,
an organization then targets them.
Positioning: Once the organization decides on its target market, it strives hard to create an image
of its product in the minds of the consumers. Marketers create a first impression of the product
in the minds of consumers through Positioning.
Marketing Mix
It was first developed by Prof. James Culliton of Harvard University; Marketing Mix refers to the
set of actions, or tactics, that a company uses to promote its brand or product in the market. The
4Ps comprise a typical marketing mix - Price, Product, Promotion, and Place.
Currently, it has been extended to 7Ps, as shown.
Mentorship Cell | 2022-23
13 | P a g e
Product Life Cycle
The four distinct stages of a product as it is introduced to customers till it is removed from the
shelves.
Introduction: In this stage, the product is released into the market for the first time. The release
of a product is often a high-stakes time in the product's life cycle, although it does not necessarily
make or break the product's eventual success.
Growth: During the growth stage, consumers start taking to the product and buying it. The
product concept is proven as it becomes more popular and sales increase.
Maturity: When a product reaches maturity, its sales tend to slow, signaling a largely saturated
market. At this point, sales may start to drop. Pricing at this stage tends to get competitive, so
profit margins shrink as prices begin to fall due to the weight of outside pressures like increased
competition and lower demand.
Decline: In the decline stage, product sales drop significantly, and consumer behavior changes due
to less demand for the product. The company's product loses more and more market share, and
competition tends to cause sales to deteriorate.
Mentorship Cell | 2022-23
14 | P a g e
SWOT Analysis
SWOT (strengths, weaknesses, opportunities, and threats) analysis is a framework used to
evaluate a company's competitiveness. SWOT analysis assesses internal and external factors
and current and future potential.
Source: Semrush
5Cs
This analysis aims to see whether the company is in the best position in the market and whether it can meet
customer needs. It also identifies the company's strengths, weaknesses, opportunities, and threats, helping
to create an apt marketing strategy.
Mentorship Cell | 2022-23
15 | P a g e
Porter’s Five Forces
Initially developed by Harvard Business School’s Michael E. Porter in 1979, the five forces model looks at
five specific factors determining whether a business can be profitable for other companies in the industry.
Ansoff Matrix
The Ansoff Matrix, called the Product/Market Expansion Grid, is a two-by-two framework used by
management teams and the analyst community to help plan and evaluate growth initiatives. In particular,
the tool allows stakeholders to conceptualize the risk associated with different growth strategies.
Mentorship Cell | 2022-23
16 | P a g e
PESTEL Analysis
The PESTEL Analysis allows organizations to discover and evaluate the factors that may affect the business
in the present and the future.
Source: Springworks
OPERATIONS
Operations Management
Operations management is planning, organizing, and overseeing business practices that maximize
efficiency and ensure company processes drive value. It involves preparing and supervising the techniques
that turn resources such as labor, equipment, and raw materials into goods and services.
Important terms
1. Lead time: Lead time is the amount of time that passes from the start of a process until its
conclusion.
2. Cycle time: Cycle time is the total time a production team spends on producing a single unit or
the time taken between the production of two consecutive units.
3. Flow rate: The number of flow units (e.g., customers, money, produced goods/services) going
through the business process per unit of time.
4. Throughput rate: It measures the movements of inputs and outputs within the production
process.
Inventory Management
Inventory is the goods or materials a business intends to sell to customers for profit. Inventory
management, a critical element of the supply chain, is the tracking of inventory from manufacturers to
warehouses and from these facilities to the point of sale. Inventory management aims to have the right
products in the right place at the right time. This requires inventory visibility — knowing when to order,
how much to order and where to store stock.
Economic Order Quantity: Economic order quantity (EOQ) is the ideal quantity of units a company should
purchase to meet demand while minimizing inventory costs such as holding costs, shortage, and order
costs.
Mentorship Cell | 2022-23
17 | P a g e
Total Quality Management
According to ASQ, total quality management (TQM) describes a management approach to long-term
success through customer satisfaction. In a TQM effort, all members of an organization participate in
improving processes, products, services, and the culture in which they work.
Lean Manufacturing
Lean manufacturing is a production process based on maximizing productivity while minimizing waste
within a manufacturing operation. The lean principle sees waste as anything that doesn’t add value that the
customers are willing to pay for.
Some significant pointers of Lean are: 1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
Muda, Mura, Muri
Just In Time (JIT)
5S
Kaizen
Kanban
Heijunka
KPIs
Root Cause Analysis
Poka-Yoke (or Error Proofing)
Value Stream Mapping
Jidoka
PDCA and SDCA
Supply chain
A supply chain is a network of individuals and companies involved in creating and delivering a product to
the consumer. Links on the chain begin with the producers of the raw materials and end when the van
delivers the finished product to the end user.
Mentorship Cell | 2022-23
18 | P a g e
Source: IRC Group
Six Sigma
Six Sigma is a framework designed to make an organization more competitive through the systematic
problem-solving approach centered around defect elimination and variation reduction, which leads to
process improvement.
Jack Welch made it central to his business strategy at General Electric in 1995. A six sigma process is one
in which 99.9999998027% of all opportunities to produce some features of a part are statistically expected
to be free of defects. In simple terms, Six Sigma quality performance means 3.4 defects per million
opportunities (accounting for a 1.5sigma shift in the mean advocated by Motorola).
Six Sigma Metrics
1.
2.
3.
4.
5.
6.
7.
8.
9.
Defects per unit (DPU)
Defects per million opportunities (DPMO)
Defect rate
Rolled throughput yield (RTY)
Cycle time
Cost of poor quality (COPQ)
Process measurement
Process Capability
Utilization.
Six Sigma Methodology
Mentorship Cell | 2022-23
19 | P a g e
Source: iSixSigma
Mentorship Cell | 2022-23
20 | P a g e