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Business Process Simulations
VentureCard™
VentureCard™ has been designed fully to represent the
departmental operations and processes involved in the
processing, approval and activation of customer applications
for credit cards. With typical cultural, operational,
procedural and process issues built into the role-play
game from the start, VentureCard™ serves as a practical
case study to be used for training purposes. It provides
students with the opportunity to run a Lean and/or a
full Six Sigma DMAIC improvement project on the underlying
credit card business in a realistic, but simulated environment,
teaching them how to conduct such projects in real life
when they return to their offices.
VentureCard™recreates
the front, middle and back offices of a credit card organisation
belonging to a major bank. The business provides card
application processing services on behalf of 3 high profile
card brands – one for high net worth Private Clients,
one for affluent professionals and the other for a vibrant
internet based brand, focused specifically on a younger
target market.
The core process is paper based and involves
KYC procedures and documentation, credit checking, the
allocation of the credit limit, fee processing and the
approval of the card application on behalf of the issuing
brand. Whilst many of the organisational and process
issues inherent in the processing unit are exaggerated,
they are derived from real and typical issues found in
most retail financial services companies.
At the outset
the business operates very poorly (at approximately 1
Sigma), has little understanding of the Voice of the
Customer and the CTQs, and has poor MI to indicate why
its performance is so bad. After implementing improvements
through various rounds of the role play, superior performance
levels of 4+ Sigma can be achieved, which in the real
world would make the business a world-beater versus the
competition.
Recent students have been very impressed
with the use of this role-play technique during the training
courses. Course evaluation comments have included: “The
simulation was fantastic! It really made the theory come
to life and helped me learn and understand the DMAIC
process”; “The simulation is vital for bringing
Six Sigma to life. Definitely the best exercise I’ve
seen on a course”; “The simulation was very
realistic and brings a sense of achievement – it
has given us a DMAIC success to build on, actually working
through a “project” and making real use of
the measurement tools and data analysis”; “The
simulation was brilliantly run. It is a fantastic structured
way to practice newly taught theory”; “The
simulation was fun and illustrates the learning points
well – it allows you to start thinking about how
to apply this back in the live environment”.
Other Business Process Simulations
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