Cyclical Unemployment – Definition, Causes and Cure
In the previous two articles, we studied about frictional and structural unemployment. They can be considered to be the mild and moderate form of unemployment respectively that can be suffered by an economy. They are not usually the ones being referred to when common people talk about unemployment. The most dreaded form of unemployment is […]
Cyber Risk in Reinsurance
The global business environment has turned increasingly digital in the pasts few years. It is very common for businesses across the world to conduct most of their business online. This includes transacting with customers, employees, suppliers, and even the government. It is for this reason that the role of computers has drastically increased within the […]
Cutting Costs Strategically
The business environment today has become extremely competitive. Companies are not only facing competition from their local competitors but also from global ones. Different economic and geopolitical factors make global supply chains necessary. The problem with having global supply chains is that operations become broad and complex. It is much easier to manage operations located […]
Customs Department – An Introduction
International Trade is facilitated and controlled by Countries with the help of Foreign Policy, Export Import Regulations, Schedule and Tariff of Import and Export Duties as well as Trade Laws and Regulations. Customs Department is the Federal Government Agency that is invested with Authority to conduct Customs Valuation and collect Import as well as Export […]
Customs Clearance – Meaning, Scope and Documentation
Customs Departments are the government designated authority to implement the policies related to import and export, collect customs duties and facilitate movement of people, goods, and cargo into and out of the country. Area of Operations and Authority Customs departments have offices at all seaports, airports and border gateways that are essentially the exit and […]
“Quality management” ensures superior quality products and services. Quality of a product can be measured in terms of performance, reliability and durability. Quality is a crucial parameter which differentiates an organization from its competitors.
Quality management tools ensure changes in the systems and processes which eventually result in superior quality products and services. Quality management methods such as Total Quality management or Six Sigma have a common goal - to deliver a high quality product.
Quality management is essential to create superior quality products which not only meet but also exceed customer satisfaction. Customers need to be satisfied with your brand.
Business marketers are successful only when they emphasize on quality rather than quantity. Quality products ensure that you survive the cut throat competition with a smile.
Quality management is essential for customer satisfaction which eventually leads to customer loyalty. How do you think businesses run? Do businesses thrive only on new customers? It is important for every business to have some loyal customers. You need to have some customers who would come back to your organization no matter what.
Would you buy a Nokia mobile again if the previous handset was defective? The answer is NO.
Customers would return to your organization only if they are satisfied with your products and services. Make sure the end-user is happy with your product. Remember, a customer would be happy and satisfied only when your product meets his expectations and fulfills his needs. Understand what the customer expects from you? Find out what actually his need is? Collect relevant data which would give you more insight into customer’s needs and demands.
Customer feedbacks should be collected on a regular basis and carefully monitored. Quality management ensures high quality products and services by eliminating defects and incorporating continuous changes and improvements in the system. High quality products in turn lead to loyal and satisfied customers who bring ten new customers along with them. Do not forget that you might save some money by ignoring quality management processes but ultimately lose out on your major customers, thus incurring huge losses.
Quality management ensures that you deliver products as per promises made to the customers through various modes of promotions. Quality management tools help an organization to design and create a product which the customer actually wants and desires.
Quality Management ensures increased revenues and higher productivity for the organization. Remember, if an organization is earning, employees are also earning. Employees are frustrated only when their salaries or other payments are not released on time. Yes, money is a strong motivating factor. Would you feel like working if your organization does not give you salary on time? Ask yourself. Salaries are released on time only when there is free cash flow.
Implementing Quality management tools ensure high customer loyalty, thus better business, increased cash flow, satisfied employees, healthy workplace and so on. Quality management processes make the organization a better place to work.
Remove unnecessary processes which merely waste employee’s time and do not contribute much to the organization’s productivity. Quality management enables employees to deliver more work in less time.
Quality management helps organizations to reduce waste and inventory. It enables employees to work closely with suppliers and incorporate “Just in Time” Philosophy.
Quality management ensures close coordination between employees of an organization. It inculcates a strong feeling of team work in the employees.
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