RSM100Y1 Lecture : 12.docx

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4 Apr 2012
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Productivity: a measure of economic performance that measures how much is produced relative to the resources used to produce it. Quality: a product"s fitness for use in terms of offering the features that consumers want. Labour productivity: partial productivity ratio calculated by dividing gross domestic product by total number of workers. Total quality management (tqm): all the activities necessary for getting high-quality goods and services into the market. Performance quality: the feature of a product and how well it performs. Quality reliability: the consistency or repeatability of performance. Quality ownership: the idea that quality belongs to each person who creates or destroys it while performing a job. Competitive product analysis: process by which a company analyzes a competitor"s products to identify desirable improvements. Value-added analysis: the evaluation of all work activities, material flows, and paperwork to determine the value that they add for customers.

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