MGTA02H3 Chapter Notes - Chapter 2: Total Quality Management, Supply Chain, Natural Resources Canada

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MGTA02H3 Full Course Notes
MGTA02H3 Full Course Notes
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Chapter 2 i ncreasing productivity and quality. T he product iv i ty qual i ty connect ion. productivity is a measure of economic performance. productivity measures how much is produced relative to the resources used to produce it. The more we are able to produce the right things while fewer resources, the more productivity grows and everyone benefits. productivity considers both the amounts and the quality of what is produced. quality means fitness of use offering features that consumers want. productivity has both international and domestic ramifications. when one country is more productive than another, it will accumulate more wealth. a nation whose productivity fails to increase as rapidly as that of competitor nations will see its standard of living fall. companies must design their marketing efforts to cultivate a more customer- oriented focus since quality must be defined in terms of value to the customer.