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Natalija [7]
3 years ago
10

What is the business importance of managing the quality of business processes? Describe two methods of quality management.

Business
2 answers:
Ratling [72]3 years ago
6 0

Answer:

2 methods are LEAN and Kaizen

Explanation:

The value of quality management is to help businesses enhance the dependability, longevity and quality of their goods. Such variables distinguish a company from its rivals. Quality products equal more satisfied customers and more income.

Lean is a very diverse management technique. Lean most often uses the term theory to be embraced by the company (business). Lean is based on a number of fundamental principles. It is essentially the organization's attempt to improve constantly in all aspects and prevent unnecessary waste.

Kaizen is an development process centered on Japanese cultural heritage. The focus of the enhancement is to progressively optimize methods and working practices, improving quality and reduce scrap, save resources and time to reduce costs, increase workplace safety and reduce working-place hazards.

Julli [10]3 years ago
6 0

Answer:

a) Business processes is a set of activities and tasks that once completed, will accomplish an organizational goal.

Therefore, the importance of managing the quality of business processes is that  it can help you improve your overall operations, It can minimize your expenditures, give you better control of the execution of tasks, pinpoint operational deficiencies, and give you insights to make better business decisions.

b) Two Methods Of Quality Management

1. DMAIC - Improvement Cycle is a universally applicable method of gradual improvement.  It is used for any improvement - for example, quality of products, services, processes, applications, data. Each stage in the cycle helps achieve a real improvement. Improvement cycle phases are:

D (Define) - objectives are defined, it is described subject and improvement objectives (product, service, process, data, etc.)

M (Measure) - measurement of initial conditions in term of the principle “what I don’t measure, that I don’t control”

A (Analyze) - analysis of the facts, causes of deficiencies

I (Improve) - key phase of the whole cycle, in which the improvement is based on analyzed and measured facts

C (Control) - improved deficiency should be introduced - to manage and maintain the improvements in life .

2) CAF Model (Common Assessment Framework) is a quality management tool, which was created for the conditions of public sector organizations.The basis of the CAF is self-assessment  which helps the organization to identify both its strengths and also get an overview of activities leading to the continuous improvement of the organization’s performance.

Explanation:

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The one-year forward rate of the British pound is quoted at $1.60, and the spot rate of the British pound is quoted at $1.63. Is
mihalych1998 [28]

Answer:

discount; 1.8%

Explanation:

Calculation for the forward rate using this formula

forward rate=(F/S) - 1

Let plug in the formula

forward rate= ($1.60/$1.63) - 1

forward rate= -1.8 percent.

Therefore The forward DISCOUNT is 1.8 percent.

7 0
3 years ago
To avoid problems at work you believe you have to adjust to tge truth a little? Agree or Disagree
meriva
I disagree because you should never change the truth just a little because if you do your lying to yourself and everybody else.
8 0
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igor_vitrenko [27]
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6 0
3 years ago
First, regardless of the strategy, _____ storage and _____ storage must be secured.
shepuryov [24]

Answer:

The correct answer is offsite and onsite.

Explanation:

When implementing Business Continuity the preservation of company data comes first.

Business Continuity Plan/Strategies are those measures that a company puts in place to ensure that regardless of the threat, and or disruption to the existing model that allows them to provide goods or services, (e.g. tsunamis or earthquakes, riots and civil unrests, compulsory government curfew) they can continue to function, reach their customers and remain operational.

The first rule of Business Continuity Plan is to protect all information assets. Off-site data or information refer to those information and or data that are remotely stored. That is, they are secured far away from the physical location of the business such as a data or server farm, cloud storage etc.

Onsite data storage refers to storing data on the premises or site of the business. Some fo the tools used are Hard Disk Drivers, Solid State Drives, DVDs etc.

Cheers!

3 0
3 years ago
If a one-year bond has a face value of $5,000 and is sold for $4,500, what is the interest rate on the bond?
Arada [10]

Answer:

11.1%

Explanation:

The face value is $5000

It is sold for $4,500

Therefore the interest rate of this bond can be calculated as follows

$5000-$4500

= 500

500/4500 × 100

= 0.111 × 100

= 11.1%

Hence the interest rate is 11.1%

6 0
3 years ago
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