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The management of quality keeping at par the cost of the organization involved is referred to as the economics of quality. It is associated with the appraisal of the product quality and at the same time ensuring maximum return for the concerned organization. The earlier concept of 'economics of quality' strived towards assuring a minimum level of quality which resulted in reduced investment and thereby increasing profitability. However the modern concept of 'economics of quality' focuses at attaining an optimum level of quality with the available resources and funds and thereby increasing the overall profitability of the organization.
The process of 'Economics of Quality' involves identification of quality affecting parameters and regulating them a manner to achieve an optimum level of quality at which the overall profitability of the organization is maximized.
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Engineering Economics And Cost Analysis Question And Answers?
Type of financial
What are the five reasons why engineers study economics?
they innovate new things. by having a knowledge of economics and management they can forcast or can predict the utility,advantages,disadvantages of the product. also get to know the scope of the product and it's contribution in growth.
What are the five reasons why engineers study economics and management?
they innovate new things. by having a knowledge of economics and management they can forcast or can predict the utility,advantages,disadvantages of the product. also get to know the scope of the product and it's contribution in growth.
Could you give me an example of demand and supply in economics?
first you demand the blowjob, then they supply it!
Construct a sentence with the word quality?
I like to spend quality time with my family.This is a good quality laptop.I demand a better quality.
When was Sierra Wireless Voq created?
Sierra Wireless Voq was created in 2004.
When was Coq Roq created?
Coq Roq was created in 2005.
When was A. Le Coq created?
A. Le Coq was created in 1807.
What does coq mean in English?
In English, "coq" translates to "rooster" or "cock."
Where does coq au vin come from?
coq au vin comes from the vets
When was A. Le Coq Arena created?
A. Le Coq Arena was created in 2001.
What is Dommartin-le-Coq's population?
The population of Dommartin-le-Coq is 65.
When was Le Coq Musique created?
Le Coq Musique was created in 2003.
What is Montignac-le-Coq's population?
Montignac-le-Coq's population is 135.
What is the population of Juillac-le-Coq?
The population of Juillac-le-Coq is 669.
When did Robert le Coq die?
Robert le Coq died in 1373.
What is 'coq' when translated from French to English?
Coq in French means "cock" or "rooster" in English.
