Six Sigma focuses on reducing process variation and enhancing process control, whereas lean drives out waste (non-value added processes and procedures) and promotes work standardization and flow
Failure Mode and Effects Analysis, or FMEA, is a methodology aimed at allowing organizations to anticipate failure during the design stage by identifying all of the possible failures in a design or manufacturing process.
a company with strong cash flow, that can easily meet its short-term obligations using cash or cash equivalents, may have also borrowed against its potential growth or may have sold assets that make servicing long-term debt unsustainable
At the broadest level, risk management is a system of people, processes and technology that enables an organization to establish objectives in line with values and risks.