12 Questions
What is one way quality improvements can help firms increase profitability?
By increasing sales and reducing costs
What did one study find about companies with the highest quality compared to those with the poorest quality?
Companies with the highest quality were five times as productive
What do quality chains help trace through an organization's business or service processes?
Inputs and outputs
In the context of processes transforming inputs into outputs, what satisfies customer needs and expectations?
Products, information, or services
What does 'Product Quality Performance' refer to?
A product's main operating characteristics
What aspect of a product does 'Aesthetics' mainly focus on according to the text?
Appearance, feel, smell, or taste
Which term describes the likelihood that a product will not fail within a specific period?
Reliability
What does Total Quality Management (TQM) emphasize?
Excellence in all product and service aspects important to the customer
What is the basis of the philosophy of Continuous Improvement in Total Quality Management?
Every aspect of an operation can be improved
What does Plan-Do-Check-Act (PDCA) represent in the context of Total Quality Management?
A circular model for continuous improvement
Which term refers to the availability and accessibility of a service?
Convenience
What is Six Sigma, as defined in Total Quality Management?
A program designed to reduce defects and improve quality
Test your knowledge on how managing quality can help firms build successful strategies like differentiation, low cost, and response. Learn how quality improvements can increase sales and reduce costs, ultimately leading to higher profitability.
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