Ayuba Ernest
Banned
It is a commonly accepted belief that firms seek to maximize profits. This pursuit of profits is often thought to have a negative impact on the quality of the products that firms produce. This essay seeks to critically evaluate the impact of profit seeking on product quality.
The first step is to define what is meant by product quality. Many people would agree that quality has two dimensions: performance and features. Performance can be measured in terms of how well the product meets the customer’s needs, while features are the specific characteristics of the product that meet those needs.
It could be argued that a firm will always produce a quality product if it meets the requirements of the customer. But in order to produce a quality product, a firm must also understand what those requirements are. In other words, it is not enough simply to meet customer needs; you must also understand them.
The second step is to identify the sources of product quality. There are three basic sources: design, process, and materials. All three contribute to the final product, but design is the most important, because it determines how well the product meets customer needs.
Process quality is important because it determines how accurately the product is manufactured. And finally, material quality is important because it determines how well the product will function and how long it will last.
The first step is to define what is meant by product quality. Many people would agree that quality has two dimensions: performance and features. Performance can be measured in terms of how well the product meets the customer’s needs, while features are the specific characteristics of the product that meet those needs.
It could be argued that a firm will always produce a quality product if it meets the requirements of the customer. But in order to produce a quality product, a firm must also understand what those requirements are. In other words, it is not enough simply to meet customer needs; you must also understand them.
The second step is to identify the sources of product quality. There are three basic sources: design, process, and materials. All three contribute to the final product, but design is the most important, because it determines how well the product meets customer needs.
Process quality is important because it determines how accurately the product is manufactured. And finally, material quality is important because it determines how well the product will function and how long it will last.
