Textbook Notes (363,074)
Canada (158,173)
RSM100Y1 (431)
Chapter 12

CHAPTER 12-Increasing Productivity and Quality

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University of Toronto St. George
Rotman Commerce
Michael Szlachta

CHAPTER12: INCREASING PRODUCTIVITY AND QUALITY - firmsinsist on quality so the can bring to the market products that satisfy customers, improve sales and boost profits The productivity - quality connection - productivity = measure of efficiency that compares how much is produced related to the resources that you used to produce it - the more we produce while using fewer resources, the better off the economy is - quality = measure of a product and how fit is for customers to use it and if it has the features that customers want; value to the customer Responding to the productivity challenge - productivity on a national scheme- one country more productive than another, that county will have more wealth - countries must increase productivity relative to each other - sincequality is defined in terms of value to the customer, companies design their marketing to make their products seem more customer oriented www.notesolution.com
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