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3 years ago

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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An account manager with _____ has the ability to create statements for a budget, compare the budget to the actual income stateme

Effectus [21]

Answer:

(A) Technical skills

Explanation:

Technical skills are the abilities and knowledge needed to perform specific practical tasks that are often related to mechanical, information technology, mathematical, or scientific tasks.

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3 years ago

In the year 2010, the income per worker in the United States was $82,359 and the income per worker in South Korea was $54,315. T

zhenek [66]

Answer:

The difference in human capital explains $7,863 of the income per worker gap while the difference in physical capital explains $20,181 of the income per worker gap.

Explanation:

Human capital refers to the skills, knowledge, and efforts of the people in producing goods and services. It is also known simply as labor. Physical capital refers to the "man-made" goods that assist in production, including machinery, equipment, and technological items such as computers.

In the given scenario, the income per worker in the United States is $82,359 - $54,315 = $28,044 more than the income per worker in South Korea. This is explained by differences in both the level of technology (i.e. physical capital) and the capability of workers (i.e. human capital).

We are informed that the income per worker in South Korea would be $74,496 if it had the same level of technology as the United States. This means that $74,496 - $54,315 = $20,181 of the income per worker gap between the two countries is explained by differences in physical capital. Hence the remaining difference of $28,044 - $20,181 = $7,863 is explained by differences in human capital between the two countries.

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3 years ago

Tax laws permit installment sales, which are recognized in the year of sale for financial reporting purposes, to be reported in

Lera25 [3.4K]

Answer:

lower; higher.

Explanation:

Taxation can be defined as the involuntary or compulsory fees levied on individuals or business entities by the government to generate revenues used for funding public institutions and activities.

The different types of tax include the following;

1. Income tax: a tax on the money made by workers in the state. This type of tax is paid by employees with respect to the amount of money they receive as their wages or salary.

2. Property tax: a tax based on the value of a person's home or business. It is mainly taxed on physical assets or properties such as land, building, cars, business, etc.

3. Sales tax: a tax that is a percent of the price of goods sold in retail stores. It is being paid by the consumers (buyers) of finished goods and services and then, transfered to the appropriate authorities by the seller.

Generally, installment sales are permitted or allowed by the tax laws in a country. Typically, they are recognized in the year of sale for the purpose of financial reporting. Also, installment sales for any goods or services are to be reported in the tax return, at a later time when cash is received from the customer (buyer).

This results in a deferred tax liability because taxable income is lower than financial income in the year of sale, and higher than financial income in later years when collected.

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2 years ago

If the cross-price elasticity of demand between Good A and Good B is 3, the price of Good B increases, and the price elasticity

Morgarella [4.7K]

<u>Answer: </u>

We can expect to see a large change in the quantity demanded for Good A.

<u>Explanation: </u>

As the price change in the price of good B is inelastic, it is but clear that the price of good B would not show any fluctuations even if there is an increase or decrease in the demand for good B.
As the price of good B is not subject to decrease in the near future, it can be expected that the demand for good A would exhibit a sudden rise.

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3 years ago

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gregori [183]

I think the last one

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2 years ago

Read 2 more answers