Lean Six Sigma in financial services industry: a systematic review and agenda for future research

Abstract

The purpose of this paper is to explore the trend and most common themes about Lean Six Sigma (LSS) implementation in the finance sector, and also to identify gaps in the themes that may be preventing organisations from identifying benefits from their LSS strategy and developing an agenda for future research on LSS themes. The following research is based on a systematic literature review of 30 papers that were published on LSS in the finance sector, from 2005 to 2015. Many issues and important themes have emerged, which are benefits, motivation factors, limitations and reasons for implementing LSS in financial organisations. Review identified many gaps and limitations that need to be explored as future research since little have been written on LSS as a holistic strategy for business improvement. It is important for practitioners to be aware of LSS benefits, limitations and motivating factors before starting the implementation process. This paper is based on a comprehensive literature review which gives an opportunity to LSS researchers to understand some common themes about LSS implementation in depth. In addition, by highlighting gaps in the current literature and proposing an agenda for future research saves time and effort for readers looking to research topics within LSS.

Keywords:

• Lean Six Sigma
• finance sector
• systematic literature review
• limitations
• motivation factors
• reasons
• benefits