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How the cost of poor quality can affect competitiveness of your business?
Wiki User
∙ 12y ago
The public buys far more than just your products, services and so-called image promotions. Whenever they interact with anyone or anything associated with your business, they are automatically branded emotionally, good or bad, by the totality of your business character.
Whether you are a small business or a large operation, it is immaterial. If that brand is found lacking at any time in the customer-relation scenario, their return to you as a future-paying customer will be highly unlikely, not to mention all of their word-of-mouth associations. If that doesn't get your attention, then you and your business are in trouble already.
Brand marketing and brand character are certainly familiar busness terms, but they are business-school jargon, nonetheless. All of those buzz words may sound great at board-rooom presentations and seminars, but often mean something else to customers.
Wiki User
∙ 12y ago
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Cost is determined on a case-by-case basis. Several elements, along with reimbursement time, underwriting assessment of business cash flow, and FICO score may additionally affect cost of a business cash advance.
Explain relationships between quality and competitiveness How the cost of poor quality can affect competitiveness of your business?
Any enterprise which will try to remain competitive on the market has to ensure the right level of quality for its products/ service provided to the customers. That covers both the external and internal customers. Company first have to define what service or product wants to provide and then compare it with the other players on the market. It is important as well to put under consideration fact that level of the quality in many cases is define by independent authorities (governmental bodies) ex. Requirements in regards to toys for kids. Meeting this minimum quality give us the right to compete, however it is not going to make our product competitive. At the first stage we should compare our product with those similar on the market and conduct our own research in regards to this service. We need to know the opinion of customers - the group which we are targeting, and find answer to the most crucial question- is our product meeting their expectations (quality). Any product even the lowest should meet the expected minimum in regards to quality (research and surveys) are crucial in terms of finding this answer). For instance, if we will released the cheapest car on the market with meeting all safety requirements, however without any expected features of modern technology (shape, devices,) we can't expect that this product will become successful.
Relevance of total quality management in the production process?
It is very important in a production process that good quality management is used. Turning out parts that cannot be sold due to defect costs the business money in sales along with cost of materials and labor. Parts that get to a buyer that are defective will also be detrimental to the business.
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help me out
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