BENEFITS OF SIX SIGMA TO LG ELECTRONICS

LG Electronics is a global electronics and telecommunications company headquartered in Yeouido, Seoul, South Korea. The company operates its business through five divisions: mobile communications, home entertainment, home appliance, air conditioning and business solution. LG Electronics is the world's second-largest manufacturer of television sets [1] and third-largest producer of mobile phones.[2] It is a flagship subsidiary company of LG Group, one of the world's largest electronic conglomerates.

The company was originally established in 1958 as GoldStar, producing radios, TVs, refrigerators, washing machines, and air conditioners.[6] The LG Group was a merger of two Korean companies, Lucky and GoldStar, from which the abbreviation of LG was derived. The current "Life's Good" slogan is a backronym. Before the corporate name change to LG, household products were sold under the brand name of Lucky, while electronic products were sold under the brand name of GoldStar

In 1994 GoldStar gained sponsorship from The 3DO Company to make the first 3DO Interactive Multiplayer. In 1995, GoldStar was renamed LG Electronics, and acquired Zenith Electronics of the United States. LG Solar Energy is a subsidiary formed in 2007 to allow LG Chem to supply polysilicon to LG Electronics for production of solar cells

Financial Benefits of Six Sigma Creates additional/new revenue Creates cost savings through tax avoidance Enables cost avoidance Faster return on investments Increases cash flow Increases profitability of existing products/services Increases revenue of existing sources Increases stock price/shareholder value Lowers cost of production Lowers cost of servicing Organizational Benefits of Six Sigma Builds company reputation Creates new customer opportunities

Fosters company vision and mission Improves market position relative to competitors Improves the ability to serve customers Increases competitiveness and ability to charge a premium Operational Benefits of Six Sigma Projects Decreases employee work loads for undesirable work Elminates non-value added activities Improves employee morale / team spirit Improves internal communication between departments and groups Improves use of workspace Increases employee and process productivity Reduces cycle time Reduces cycle time of production/process Reduces external inputs to processes Reduces person-hours Reduces process steps Simplifies processes and workflow steps Information Technology Benefits of Six Sigma Decreases maintenance/support costs Enables service level agreement (SLA) obligations Improves application/system performance Improves application/system utilization rate Increases efficiency of support activities Increases productivity through automation Maintains intellectual property investment Preserves value of technology Reduces application/system variation (increases reliability) Reduces paper documentation requirements Strengthens application/system security