Handout 2 Flashcards
the measure of how effective an organization meets the wants and needs of the customers relative to other organizations that offer similar goods or services
Competitiveness
a basic input in an organization’s decision-making process, and central to competitiveness
Identifying consumer wants and/or needs
the key factors in consumer buying decisions
Price and quality
are ways organizations can attract buyers and inform potential customers about the features of their products or services
Advertising and promotion
The Relationship Between Quality and Competitiveness
companies must elevate the quality of their products if they wish to survive and become competitive on a higher level of market
it would disappear if systems, processes, and products were improved
Cost of Poor Quality
Cost of Poor Quality
wastes, rejects, testing, reworks, customer returns, inspections, and recalls.
a key factor in consumer buying decisions. consumers would criticize the product based on innovative presentation and timeliness of service delivery
Product and Service Design
affect pricing decisions and profits
Cost of an Organization’s Output
It is important in terms of cost and convenience for customers
Location
refers to materials, workmanship, design, and service
Quality
the ability of the organization to quickly deliver existing products and services to a customer after they are ordered, and being able to quickly handle customer complaints
Quick Response
the ability to respond to changes
Flexibility
It is a competitive advantage by effectively matching supplies of goods with demand
Inventory Management
involves coordinating internal and external operations (buyers and suppliers) to achieve timely and cost-effective delivery of goods throughout the system
Supply Chain Management
