GMS 401- Midterm Exam Guide - Comprehensive Notes for the exam ( 68 pages long!)

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 401
• Professor: Wally Whistance- Smith

Document Summary

What is quality: (cid:862)the (cid:395)ualit(cid:455) of a p(cid:396)odu(cid:272)t o(cid:396) se(cid:396)(cid:448)i(cid:272)e is a (cid:272)usto(cid:373)e(cid:396)"s pe(cid:396)(cid:272)eptio(cid:374) of the deg(cid:396)ee to (cid:449)hi(cid:272)h the p(cid:396)odu(cid:272)t o(cid:396) se(cid:396)(cid:448)i(cid:272)e (cid:373)eets his o(cid:396) he(cid:396) e(cid:454)pe(cid:272)tatio(cid:374)s(cid:863) The consequences of poor quality: loss of business, liability, productivity, costs. Benefits of good quality: enhanced reputation for quality, ability to command higher prices. Increased market share: greater customer loyalty, lower liability costs, fewer production or service problems, higher profits. Key dimensions of quality: performance, features, reliability, conformance, durability, serviceability, aesthetics, perceived quality, value. Costs of quality: prevention costs reducing the potential for defects, appraisal costs evaluating products, parts, and services, external costs defects discovered after delivery. Internal failure producing defective parts or service before delivery. If production does it right the first time and produces products and services that are defect-free, waste is eliminated and costs are reduced: quality management programs today are viewed by many companies as productivity improvement programs.