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The importance of quality in today’s organizations need not be overemphasized. Building quality in products manufactured or services provided is critical to making profits and to exist as a viable organization in the long run. TQM, Six Sigma, Lean, ISO 9000, Malcom Baldrige, Balance Score Card, JIT, Kaizen etc are some of the many concepts used in the industry to maintain and improve quality on a continuous basis. One of the most widely used tools for continuous improvement is PDCA(Plan-Do-Check-Act) cycle also known as Deming cycle or Shewhart cycle.
The emphasis in continuous improvement is incremental improvement within an existing process.
Many argue that building quality takes money and time. However, authors and practitioners like Crosby argue that Quality is Free 1 meaning that a business organization that establishes a quality program will see savings more than payoff the cost of the quality program. The cost of not including and maintaining quality may be more expensive than providing quality in the products and services offered.
In the past, expenditures on quality have not been explicitly linked to profits because costs and savings were the only variables on which information was available 2. More recently, evidence about the profit consequences of quality stemming from other sources has been found.
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Some of the categories or sources that have profit consequences are: direct effects of quality on profits; the link between perceived quality and purchase intentions; customer and segment profitability; and key service drivers of service quality, customer retention, and profitability.
The critical business elements from which continuous improvement projects can be discovered, financially evaluated, and ranked before implementation (Jones 2008) are:
Quality, be it manufacturing quality or service quality, is essential for competing in today’s market place.
Quality is equally important to improve acceptability and profitability. By carefully studying the areas where continuous improvement in quality can be implemented and thereby controlling the costs and improving quality, business organizations can justify the investments in quality that drive profits and profitability.
Continuous Quality of Product Improvement. (2020, Jun 01). Retrieved from https://studymoose.com/continuous-quality-of-product-improvement-essay
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