Topics / Quality

Quality

The world that represent an idea of good quality are reliable well-made, well-known, and long-lasting. We often find out complaints about durability are reliability of products. Bad products should be withdrawn from sale. Such products lack consumer confidents. In the past quality meant excellence and then the product was well-made and expensive. The thing was the best of its kind.

Nowadays business people believe that quality means that a product is reliable, has no defects. It means reliability, consistency and value of money.

The old style idea of quality became popular because it emphasizes the importance of good production methods.

Quality includes finance strategy. Rolls-Royce went bankrupt because they sold their cars too cheaply in their market. They did not control their finance effectively which include:

1. Balance sheets (difference between manufacturing costs and selling price)

2. Profit margins (amount of money of a company)

3. Stock control (checking supplies of goods)