MGTA02H3 Chapter Notes - Chapter 2: Gross Domestic Product, Business Process Reengineering, Total Quality Management
1
MGTA02H3 Full Course Notes
Verified Note
1 document
Document Summary
Productivity: a measure of efficiency that compares how much is produced with 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. Totally quality management (tqm): a concept that emphasizes that no defects are tolerable and that all employees are responsible for maintaining quality standards. Performance quality: the overall degree of quality; how well the features of a product meet consumers" needs and how well the product performs. Quality reliability: the consistency of quality from unit to unit of a product. Quality ownership: the concept that quality belongs to each employee who creates or destroys it in producing a good or service; the idea that all workers must take responsibility for producing a quality product. Business process re-engineering: redesigning of business processes to improve performance, quality, and productivity.
