Search results
Results From The WOW.Com Content Network
Performance improvement can be applied to either individual performance, such as an athlete, or organisational performance, such as a racing team or a commercial business. The United States Coast Guard has published the Performance Improvement Guide (PIG) , [ 1 ] which describes various processes and tools for performance management at the ...
Performance improvement focuses on measuring the output of a particular business process or procedure, then modifying the process or procedure to increase the output, increase efficiency, or increase the effectiveness of the process or procedure. Quality improvement is one of the four aspects of the concept of quality management. A crucial ...
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
Quality management is a recent phenomenon but important for an organization. Civilizations that supported arts and crafts [clarification needed] allowed clients to choose goods meeting higher quality standards than normal goods. In societies where arts and crafts were the responsibility of master craftsmen or artists, these masters would lead ...
There are many ways of how firms can engage in non-price competition to increase their market share and retain their customer base. Examples are such like loyalty programs, subsidized delivery, unique selling points, brand recognition, ethical and/or charitable concerns, after-sales service, positive feedback reviews, marketing campaigns and ...
Firms began reexamining the techniques of quality control invented over the past 50 years and how those techniques had been so successfully employed by the Japanese. It was in the midst of this economic turmoil that TQM took root. The exact origin of the term "total quality management" is uncertain. [2]
In other words, when every good or service is produced up to the point where one more unit provides a marginal benefit to consumers less than the marginal cost of producing it. Because productive resources are scarce , the resources must be allocated to various industries in just the right amounts, otherwise too much or too little output gets ...
It is not limited to quality initiatives. Improvement in business strategy, business results, customer, employee and supplier relationships can be subject to continual improvement. Put simply, it means 'getting better all the time'.' "[6]: 498 The key features of continual improvement process in general are: