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Real Estate Appraisal > PQL Exam 2 > Flashcards

PQL Exam 2 Flashcards

1
Q

digital micrometer

A

measures variation in products

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2
Q

no two outputs are

A

alike (snowflakes)

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3
Q

The distribution of items is always a

A

normal distribution curve

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4
Q

Variation For a product

A

the difference between the actual part dimensions of one part versus another

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5
Q

variation for a service

A

the difference between service experience one time to the next

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6
Q

variation for a process

A

can be present in a number of ways

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7
Q

Goal is to reduce variation

A

throughout the system

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8
Q

Precise is

A

consistent

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9
Q

Accurate is

A

centered around the target

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10
Q

do you want precision or accuracy?

A

percision

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11
Q

two types of variation

A

Common cause and Special cause

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12
Q

Common cause variation, natural variation

A

Bags of sugar being different weight, Only management can identify and reduce this by changing the process

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13
Q

Special cause, assignable cause

A

Not part of the normal process, Burnt cheerio

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14
Q

management responsibility with special cause

A

Eliminate it, Providing standard work, training, and enforcement

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15
Q

management responsibly with common cause

A

Establish what is an acceptable level of natural variation, REDUCE natural variation through continuous improvement

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16
Q

for standard work scientific management is

A

the one best way

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17
Q

standardized work helps

A

establish a baseline for future improvement

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18
Q

operator standard work

A

specific, how to, simple and visual

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19
Q

what do you standardize

A

Only what impacts the outcome or output

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20
Q

leader standard work

A

Identifying best practices and sharing knowledge

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21
Q

leader standard work helps ensure the —– —– tasks/—– that have —– —- on results are made a priority

A

critical few, behaviors, greatest impact

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22
Q

standard work provides

A

systematic method for all leaders, visual management reminders of key behaviors, and accountability

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23
Q

Benefits of Standard work:

A

quality and productivity:
- Overall process improvement
- Managerial control
- Learning (employee)
- Training (employer)

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24
Q

leader standard work differs from operator because

A

Less time, Less detail, Focus on high impact

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25
Q

operator standard work differs from leader because

A

Most work is standardized, Specific “how to”

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26
Q

Amazon: continuous improvement

A

USING TAPE TO MARK OFF different AREAS
notification of 1 hour orders:
- 1 hour orders have to be picked and ready to go within 15 minutes of the order
- We need an audible alarm
- Used to use a gong then a wireless doorbell
- Then it was coded on the computer alarm
- Now it automatically sends to the scanner

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27
Q

Amazon: 5’s

A

it insures that employees have the tools that they need at the right time in the right place, to avoid clutter:
- EX: packing boxes, need tape cutter and need to know right where it is

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28
Q

Amazon: Poka-yoke

A

Robotics brings the shelf to the employees but things fell out, they made this banding type of thing to keep the stuff in, started as simple as possible

29
Q

Amazon: visual management

A

Andon light: green (I’m in the station), yellow (I need supplies), red (I have a problem)

30
Q

Amazon: Gemba (go see)

A

Everyday towards the end of the day the managers go to the shop floor and see what’s going on and then managers huddle up and start trying to fix employee barriers

31
Q

start any project with a

A

process map

32
Q

Without standardization, there can be no improvement (Taiichi Ohno), Without standardization, (Margret Deck)

A

there can be no overall improvement (Margret Deck)

33
Q

7 step problem solving purpose is to

A

solve bigger issues, Only using this can you prevent a reoccurrence

34
Q

7 Steps:

A

Gf, C, Pc, Ic, Rc, Ca, Pa

35
Q
  1. Gather facts
A
  • Asking what, when, where, who, how many
  • All the facts about what happened
  • Not asking Why
36
Q
  1. Containment
A
  • Contain the problem itself
  • Contain the bad will
37
Q
  1. Potential causes
A
  • Cause and effect diagram
  • Helps avoid confirmation bias: tendency to look for or only see things that confirm or support our prior beliefs
38
Q
  1. Immediate cause
A
  • What happened this time, what caused this incident
  • Throwing out the eggs is only containment not corrective action (wont prevent the problem from occurring again)
39
Q
  1. Root cause
A
  • 5 whys: ask why until you get to a gap in the process, don’t have to be 5 why’s
40
Q
  1. Corrective action
A
  • Has to address the root cause not the immediate cause
  • These are never a corrective action: retraining or terminating employees
  • Reactive
41
Q
  1. Preventative actions
A

proactive

42
Q

Problems with not using 7 steps

A
  • Jumping to solutions before you knower the root cause
  • Stop the identifications of solitons
43
Q

Benefits of 7 steps

A
  • Prevents recurrences
  • Avoid future problems
44
Q

Dimensions of product quality:

A
  • Free defects
  • Performance
  • Features
  • Reliability/consistent performance
  • Durability
  • Serviceability
  • Aesthetics
  • Image
45
Q

Dimensions of service quality:

A
  • Free of mistakes
  • Reliability
  • Assurance
  • Tangibles
  • Empathy
  • Responsiveness
  • Reputation
46
Q

with quality you have to perceive what the

A

customer views as value

47
Q

how customers define quality:

A

always what the customer says, always the full experience, subjective, always changing

48
Q

Kano’s Model

A

dissatisfies, satisfiers, delighters: over times delighters become satisfiers, and satisfiers become dissatisfiers

49
Q

Dissatisfiers:

A
  • (must have) expected and unspoken
  • Unspoken because they are expected
  • Wont make you happy because it should be there
  • Makes customer immediately unhappy when its not there
50
Q

Satisfiers:

A
  • spoken, things your specifically seek out
  • The more of them there are, the happier the customer will be
51
Q

Delighter

A
  • unspoken and unexpected
  • Don’t even ask for it because it’s a wow factor
  • If its not there you wont be unhappy because you weren’t looking for it
  • But if it is there it will put you over the edge for a purchasing decision
52
Q

EX of delighter

A

when they put chocolate or cookies in your room at a hotel, complementary breakfast buffet in a hotel, free food and drinks it a hotel fridge, massaging car seats, collision warning system in car

53
Q

EX of satisfier

A

new tires, heated seats, sun roof, leather seats

54
Q

EX of dissatisfied

A

car radio, towels in a hotel bathroom,

55
Q

Customer satisfaction:

A

looking back at a past experience, Does not correlate to customer loyalty

56
Q

Loyalty:

A

when you go back to a brand again and again

57
Q

Perceived value:

A
  • anticipating a future benefit
  • Does correlate to customer loyalty
  • Customer looks forward to their next purchase
58
Q

Creating customer loyalty:

A
  • Go beyond satisfaction
  • Has to be above average all the time
  • Keeping up with the constantly changing desires of customers
59
Q

Developing a process for listening to the VOC

A
  1. Multiple touch points: more than one way to hear the voice of the customer
    - comment cards, formal surveys, focus groups, internet monitoring
    - contact employees
  2. Complaint management: For all of the above, the cost vs benefit must be reasonable
60
Q

VOC

A

voice of the customer, What is quality or value in their words, have to go above average

61
Q

Comment cards, formal surveys, focus groups, and internet monitoring

A

ability to probe: looking for the why (ex: know why they gave you 5 stars) and what else

62
Q

contact employees

A

anyone in your organization who interacts with a customer
- They are seeing the customer experience and hearing the questions
- Through the employees not necessarily from the customer, because its what the employee picks up on
- Every week you have a staff meeting and ask employees to say what they are hearing or send a survey to employees for ideas they have gathered or gained based on what they heard from customers

63
Q

response rate and biased responses

A
  • Response rate for any kind of customer feedback is usually very low
  • The response you get are from the lovers or the haters so they are biased because those who have an average
  • Accessibility and incentive: You have to do both of these things to get people to respond, Must be a cost effective response
64
Q

Complaint management

A
  • Companies do not hear from 96% of their unhappy customers
  • One person expressing a complaint is representing more than one person
  • A complaining customer means there is still hope
  • If complaints are handled properly, >50% of customers will return
  • Customers who have problems will tell 9 to 10 others
65
Q

Have a process for managing complaints because

A

you don’t want to leave it up to every single employee to handle complaints on their own, more simple the better

66
Q

NPS

A

Net Promoter Score, what most companies use to test customer loyalty

67
Q

the number 1 question

A

would you recommend to others: If you do it is likely that you will come back, Indicator of loyalty or repeat purchases

68
Q

2 ways NPS is used

A
  • Benchmark against the industry: No single number that shows it’s a good score, all depends on the industry
  • You benchmark your own score over time: Getting better, worse, or staying the same

Real Estate Appraisal (11 decks)

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