TOTAL QUALITY MANAGEMENT By- SANJAY KUMAR* TQM A SUSTAINED MANAGEMENT COMMITMENT TO QUALITY- An Organizations Personality and Culture will ultimately reflect it’s senior Management values‚ If an organization is serious about implementing TQM‚ the Commitments to do so has to start at the TOP‚ and the organization’s Senior Management has to be unwavering in its commitment to quality Focusing on the Customer Lee Lacocca once advertised
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outside the organization‚ business customers‚ suppliers‚ partners‚ end consumers. 2. Internal Customer - inside the organization‚ e.g.‚ other departments‚ fellow employees. SERVICE QUALITY What is SERVICE? The definition of Service as per the international standard‚ ISO 9000 follows: “The results generated‚ by activities at the interface between the organization and the customer and by the organization’s internal activities‚ to meet customer needs”. The results generated in the case
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Costs of Production July 2011 Topics to be Discussed Measuring Cost: Which Costs Matter? How do Cost Curves Behave? – Cost in the Short Run – Cost in the Long Run How to Minimize Cost? How to draw Implications for Business Strategy? Topics to be Discussed Production with Two Outputs: Economies of Scope Dynamic Changes in Costs: The Learning Curve Estimating and Predicting Cost Measuring Cost: Which Costs Matter? Accountants tend to take a retrospective view of firms’ costs‚ whereas
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under efficient operating conditions absorption costing all manufacturing costs are assigned to products: direct material‚ direct labour‚ variable and fixed manufacturing overhead acceptable quality level (AQL) the defect rate at which total quality costs are minimised account classification method (or account analysis) the process in which managers use their judgement to classify costs as fixed‚ variable or semivariable costs accounting rate of return (or simple rate of return‚ rate of return on assets
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i Case Study: One Laptop Per Child [from: Keegan‚ Warren J.‚ and Mark C. Green‚ Global Marketing (Sixth Edition)‚ New Jersey: Pearson Education‚ Inc.‚Prentice Hall‚ 2011] |[pic] | | | | | As director of the prestigious Media Lab at the Massachusetts Institute of Technology (MIT)‚ Nicolas Negroponte had a unique opportunity to immerse himself in cutting-edge
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Programme in Total Quality Management (71838) Purpose The national quality policy focuses on the quality of product‚ quality of service delivery (to the internal and external customer)‚ quality of organisation (systems and processes) and quality of work-life (QWL). The purpose of this SLP is to provide students a complete body of knowledge of TQM as a holistic approach to managing quality. Students will acquire fundamental theoretical and practical knowledge in various concepts of TQM necessary
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11. A total variance is best defined as the difference between total a. actual cost and total cost applied for the standard output of the period. b. standard cost and total cost applied to production. c. actual cost and total standard cost of the actual input of the period. d. actual cost and total cost applied for the actual output of the period. 12. The term “standard hours allowed” measures a. budgeted output at actual hours. b. budgeted output at standard hours. c. actual output
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source same End result ! ends with financial statements ! integral part of other business aspects B. Cost Accounting Terminology 1. Nature of Cost Cost - A sacrifice of resources: Cost is a measurement in monetary terms of the amount of resources used for some purpose. Expense - The cost charged against revenue in a particular accounting period. 2. Purposes of Gathering Cost Information Routine decision making:
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governments. Despite these changes in ownership and regulatory control‚ Indonesia‘s coal industry expanded during the Localization period at a still impressive‚ albeit slower‚ growth rate of 12 percent per year. In 2005‚ against all odds‚ Indonesia became the world‘s largest exporter of steam coal with total coal exports of 117 mt of steam coal against ―runner-up‖ Australia‘s 115 mt. In 2009‚ Indonesia‘s exports of steam coal had increased to 176.39 mt while Australia‘s steam coal exports increased at
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Unit 4 – Pure‚ Per Se and Natural Monopolies Individual Project Sometimes market activities (production‚ buying‚ and selling) have unintended positive or negative effects outside the market’s scope. These are called externalities. As a policy maker concerned with correcting the effects of gases and particulates emitted by and local power plant‚ answer the following questions: * What two policies could you use to reduce the total amount of emissions? * Per our text book‚ the gases
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