What is quality? Quality is a measure of how good and satisfying a product is to the consumer. The ISO standard explains quality as "the totality of features and characteristics of a product or service that bears its ability to satisfy stated or implied needs." Meaning that the quality of a product/service is defined in matter of the features it presents to the customer and the rate of satisfaction it is providing to its user/consumer. The quality depends not only on its features it depends on the
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Assignment Assessing Quality: Cost of getting wrong or the benefits of getting it right Executive Summary: This report has been written with the intention of improving Euro-Recycling Ltd’s quality management and therefore the quality of service provided. This will be essential in the future of the company as it looks to branch out in the market while also maintaining its established relationships with current customers. The first part of the report will focus on what quality means to a business
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Plant overhead $122‚000 D/L rate/hour $30 Youngstown has a traditional cost system. It calculates a plant-wide overhead rate by dividing total overhead costs by total direct labor hours. Assume‚ for the calculations below‚ that plant overhead is a committed (fixed) cost during the year‚ but that direct labor is a variable cost. 1. Calculate the plant-wide overhead rate. Use this rate to assign overhead costs to products and calculate the profitability of the four products. The assignment
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Cost reduction Generally defined as the act of cutting costs to improve profitability. Cost reduction‚ should therefore‚ not be confused with cost saving and cost control. Cost saving could be a temporary affair and may be at the cost of quality. Cost reduction implies the retention of essential characteristics and quality of the product and thus it must be confined to permanent and genuine savings in the costs of manufacture‚ administration‚ distribution and selling‚ brought about by elimination
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INDEPENDENT STUDY – I “Study of time and cost of labour productivity for a construction project” Submitted by: Eshani Kothari Code: PT100513 Guided by: Prof. P Akalkotkar Chairman‚ M.Tech (CEM) CEPT University M.Tech. programme in construction Engineering and Management CEPT University Ahmedabad- 380009 1 INDEX TABLE OF CONTENTS Sr no Chapter I 1.1 1.2 1.3 1.4 1.5 1.5.1 1.5.2 1.5.3 1.6 1.7 1.8 Chapter II 2.1 2.2 2.2.1 2.2.2 2.3 Chapter III 3.1 3.2 Chapter
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FINANCIAL & COST ACCOUNTING Total Marks: 80 N.B.: 1)Allquestionsarecompulsory 2) All questions carry equal marks. Q1) ABC Ltd. Produces room coolers. The company is considering whether it should continue to manufacture air circulating fans itself or purchase them from outside. Its annual requirement is 25000 units. An outsider vendor is prepared to supply fans for Rs 285 each. In addition‚ ABC Ltd will have to incur costs of Rs 1.50 per unit for freight and Rs 10‚000 per year for quality inspection
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The report submitted in the following pages‚ is (based on an exhaustive interview with the contracts manager of the company)‚ analyses the company‚ Shutdown Maintenance Services (SMS)‚ on the basis of‚ i.e.‚ quality‚ speed‚ dependability‚ flexibility‚ and‚ cost. The assignment also illustrates and explains how each stage of the above mentioned objective principles are implemented and more importantly the analysis of the company based on these principles. By analysing the company‚ we
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Cost Control and Cost Reduction A business enterprise must survive‚ grow‚ and prosper. Cost Control and Cost Reduction are activities necessary for ensuring that these objectives are fulfilled. With the liberalization of the Indian Economy and Globalization‚ there is now a cut throat competition from various concerns of the world. As a result there is now a race to secure a place for survival. This has increased the importance of cost control and Cost Reduction. Cost Control “Cost control
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Structure Setting and Adjustment | Definition | A pay structure is a collection of pay rates or pay ranges.Structure setting and adjustment is the process of developing‚ adjusting‚ and maintaining a pay structure. | Purpose | Pay structures are used to help organizations: * maintain pay levels that are competitive with the external labor market‚ * maintain internal pay relationships among jobs‚ * recognize and reward differences in level of responsibility‚ skill‚ and performance‚ and
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THE IMPORTANCE OF EFFECTIVE COMMUNICATION WITH PEOPLE WITH MENTAL HEALTH PROBLEMS I believe that good communication skills with people you come into contact with is vital to establish a relationship‚ ether if it is a professional relationship or a personal relationship. However Communication with someone who has a mental health illness can be harder and needs more skills than the ‘Normal’ person. The ranges of communication include
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