Wiley & sas business Series

   Six Sigma Process Improvement  
  A business management strategy focusing on quality control testing and 
optimizing processes through reducing process variance. 
   Strategic Planning  
  The process by which organizations identify a desired outcome, the resources 
required to support that outcome, and the plan to achieve the outcome. 
Typically, strategic planning is an important step in identifying the creation 
of new competitive advantages. 
   Stress Testing  
  A form of simulation modeling that focuses specifi cally on identifying the 
response of a model under specifi c, often highly negative scenarios. Common 
examples include testing the profi tability of a bank given catastrophic levels 
of mortgage defaults or modeling extreme macroeconomic conditions. 
   Strongly Defi ned Process  
  A series of steps that is clearly defi ned, is repeatable, can be automated, and 
leads to the creation of value.