QUALITY MANAGEMENT

“Quality is never an accident; it is always the result of high intention, sincere effort, intelligent direction and skillful execution. It represents the wise choice of many alternatives.” – Willa Foster

EXECUTIVE SUMMARY

This research operations report provides an analysis of managing quality in operations with an application to the banking industry. The report defines quality and explores why quality is important by presenting some benefits associated with good quality and some costs of poor quality. The analysis then explores the pioneers of quality management through to modern ideas of quality management.

The aim of this report is to highlight the importance of managing quality for competitive advantage and profitability, through the provision of superior product/service quality. The banking industry was chosen as an industry to apply the concepts of managing quality due to the service nature of the industry as traditional quality management has its origins in product quality but can be extended to include service industries with some modifications.

The source of the materials in the report is various academic journals from varying disciplines about managing quality and academic textbooks.

DEFINING QUALITY

Sebastianelli & Tamimi (2002) define quality through different approaches including the transcendent definition, the products-based approach, the user-based approach, the manufacturing approach and the value based approach. They further state that the different approaches to defining quality are rooted in the varying disciplines; such as marketing assuming the user-based approach and the traditional economic models assuming the value based approach. This paper therefore takes the manufacturing approach, with its roots in operations and productions management approach to quality defined as ‘conformance to specifications’ (Crosby 1979 cited in Sebastianelli & Tamimi 2002). There are also dimensions of quality



Bibliography: Freiesleben, J., 2005, “The opportunity costs of poor quality”, The Quality Assurance Journal, vol. 9, no.1, pp. 3–10, Retrieved on 2 April 2012 Hill, T., 2005, Operations Management, 2nd Edition, Palgrave Macmillan, Basingstoke Maslow, A. H., 1943, “A theory of human motivation” Psychological Review, vol. 50 no. 4, pp. 370-396, retrieved on April 2 2012 Schroeder, R., G., Goldstein, S., M Talha, M., 2004, “Total Quality Management (TQM): an overview, The Bottom Line: Managing Library Finances”, Vol.17 no.1 pp.15-19 retrieved on 30 March 2012 Zu, X., Robbins T.L, Lawrence D Source: Bisgaard, S., 2008, “Quality Engineering”, vol. 20, no. 4, p390-401, Fig 1 Figure 1.2 Source: Bisgaard, S., 2008, “Quality Engineering”, vol. 20, no. 4, p390-401, Fig 5 Figure 1.3 Source: Bisgaard, S., 2008, “Quality Engineering”, vol. 20, no. 4, p390-401, Fig 3

You May Also Find These Documents Helpful

  • Best Essays

    Quality Management

    • 2686 Words
    • 11 Pages

    Dai Wei East Asia Institute of Management 9 Ah Hood Road Singapore 329975 Dai Wei East Asia Institute of Management 9 Ah Hood Road Singapore 329975 Date : Jun 03, 2013 Fun Promotion B.V. PO BOX 5025 Rubberstraat 24 1411 AL Naarden - The Netherlands Dear Ingrid Loebb: I am submitting herewith my essay entitled the Mercedes-Benz quality system The main purpose of this essay is to analyzed and discussed the Mercedes-Benz quality system. We hope that this essay will…

    • 2686 Words
    • 11 Pages
    Best Essays
  • Good Essays

    Management of Quality

    • 4663 Words
    • 19 Pages

    MANAGEMENT OF QUALITY Introduction Quality refers to the ability of a product or service to consistently meet or exceed customer requirements or expectations. Different customers will have different requirements, so a working definition of quality is customer-dependent. In order to rebuild its economy after the Second World War, Japan focused on quality improvement, making it a national imperative. This took place during a time when quality was not uppermost in the minds of business organizations…

    • 4663 Words
    • 19 Pages
    Good Essays
  • Good Essays

    Management of Quality

    • 2130 Words
    • 9 Pages

    MANAGEMENT OF QUALITY Quality cannot be ignored; every purchasing decision is based on price and quality What is Quality? It’s the ability of a product or service to consistently meet or exceed customer expectations. Slogans related to quality: * Talk is cheap but recalls are not. * There is nothing is more frustrating than working hard and then knowing that what you did, didn’t work out. * People want to do good job, and we have to enable them. To meet or exceed customer expectations…

    • 2130 Words
    • 9 Pages
    Good Essays
  • Best Essays

    Quality Management

    • 2263 Words
    • 10 Pages

    Modell Charter School ERP Quality Management Plan Lamont Fletcher BUS4092 Project Management II 635 Beth ave Winston – Salem NC 27127 Telephone: (336) 671-0576 Email: lamontaf@me.com Instructor: Professor Joe Forte Introduction The purpose of the Quality Management Plan (QMP) is to provide a broad framework for implementing quality assurance on the Modell Charter School ERP Implementation project to ensure the project is successful. The plan is meant for the project stakeholders and…

    • 2263 Words
    • 10 Pages
    Best Essays
  • Satisfactory Essays

    QUALITY MANAGEMENT

    • 2079 Words
    • 22 Pages

    PRODUCTION AND OPERATIONS MANAGEMENT Chapter 17 QUALITY MANAGEMENT Chapter 17 Quality Management Benefits of Quality Control I. II. Minimum scrap or rework due to reduced defectives. Reduced cost of labour and material as a result of reduced defectives. III. Uniform quality and reliability of product help in increasing sales turn over. IV. Reduced variability resulting in-higher quality and reduced production bottle necks. V. Reduced inspection and reduced inspection costs…

    • 2079 Words
    • 22 Pages
    Satisfactory Essays
  • Powerful Essays

    Quality Management

    • 3287 Words
    • 14 Pages

    1. Introduction Quality management has come forth as a management theory for heightening organizational efficiency and competitiveness (Dow et al., 1999; Grandzol and Greshon, 1997; Sila, 2007; Sanchez-Rodriguez and Martinez-Lorente, 2004). Several experimental surveys and studies propose that organizations attain higher levels of productivity and organizational functioning via successful execution of quality management (Easton and Jarrell, 1998; Powell, 1995; Das et al., 2000; Yeung et al., 2006;…

    • 3287 Words
    • 14 Pages
    Powerful Essays
  • Powerful Essays

    Quality Management

    • 6190 Words
    • 25 Pages

    Quality management The term quality management has a specific meaning within many business sectors. This specific definition, which does not aim to assure 'good quality ' by the more general definition, but rather to ensure that an organization or product is consistent, can be considered to have four main components: quality planning, quality control, quality assurance and quality improvement.[1] Quality management is focused not only on product/service quality, but also the means to achieve it…

    • 6190 Words
    • 25 Pages
    Powerful Essays
  • Good Essays

    Quality Management

    • 5888 Words
    • 24 Pages

    ------------------------------------------------- Institute Of Business Management Total Quality Management ------------------------------------------------- Term Report Company: Opal Laboratories (pvt) Limited Submitted to: Mr. Moinuddin Khan Submitted by: Mohammad Tobeh (11931) Muffaddal Moosajee (7743) Muhammad Tariq Qazi (7193) Date of Submission: 20th December, 2012 Contact Information Mr. Tariq Ikram Mr. Arif Ikram CEO, Opal Laboratories COO, Opal Laboratories…

    • 5888 Words
    • 24 Pages
    Good Essays
  • Good Essays

    Quality Management

    • 1536 Words
    • 7 Pages

    Name: QUALITY MANAGEMENT MID TERM EXAM Question You are a project management consultant assigned to a small manufacturing firm that has been experiencing a myriad of problems. After conducting interviews and fact-finding with key managers, you have observed the following: •Company revenues and profits have fallen dramatically over the previous 12 months, along with a drop in market share •Customer complaints have reached an all time high •Employee morale is at an all time low •The…

    • 1536 Words
    • 7 Pages
    Good Essays
  • Powerful Essays

    Quality Management

    • 1471 Words
    • 6 Pages

    describe quality management, quality assurance as well as quality control. For a better understanding of our subject we will run all these quality types with more details in the next pages. Quality management, used by many companies, has a specific meaning within many business sectors. The quality management doesn’t especially promote a good quality for a firm, but rather to ensure that a product or organization is consistent, can be considered to have four components: quality planning, quality control…

    • 1471 Words
    • 6 Pages
    Powerful Essays