Application of Six Sigma tools to product line business plan development

Six Sigma tools and methodologies have been embraced by many large and successful corporations such as Honeywell International to reduce variation and improve the effectiveness with which they conduct their day to day business activities. While the heritage of these tools lies in manufacturing, companies such as Honeywell International have extended these concepts to product development and growth into new businesses areas. As a Six Sigma Black Belt certification candidate, the author has chosen to apply these tools to an emerging avionics product line to develop a sound business development strategy. Elements of this strategy will include the business plan itself, product line road maps, competitive analysis, and research and development recommendations. This paper will focus on the application of those tools to the business development process and the lessons learned in that process. The specifics of the business plan itself will not be discussed due to their proprietary nature. Where illustration is necessary, the author provides hypothetical examples to highlight the application of a particular tool or methodology. The author´s goal is to provide the reader with an understanding of the value of Six Sigma tools with respect to new business development.