Prepare a comparative table that shows the various definitions, risks, and value of each of the following quality management tactics.
1. Establishing customer expectations
Customer expectations can be defined as the perceived-value that a buyer of products or services has towards them. To establish the customer expectations means to offer to provide goods and services to the customer in the manner and condition that he or she expects.
Risks in establishing customer expectations
During the process of establishing customer expectations, the risk of market failure can occur. The product or service produced can fail to meet the needs and expectations of the customer. When this happens, the company may lose a lot of products that might expire or get damaged while in stores. Besides, the company may also lose customer’s trust and loyalty. This can happen if the goods and services provided fail to meet customer expectations. The customers may reject the product and shift their loyalty to another company.
Value of establishing customer expectations
When customer expectations are fully met, the customers will demand more goods and services which will make the company increase its sales. Moreover, the company’s reputation is improved when customers are provided with what they expect.
2. Designing quality
This can be defined can the process of improving the value of a product or a service. Quality of a good or a service can be designed using the following steps;
-Establishing the goals of the design
-Defining the target market
-Research on the customers’ needs
-Design the characteristics of the product or service that will meet customers’ expectations
-Establish the process of controlling the implementation of the design.
Risks in designing quality
During the process of designing a product or service, the risk of failing to attain customer expectations is likely to occur. This can result in wastages and great loss as many products will remain in unsold.
The value/advantages of designing quality
When a product or service is well designed for quality, it definitely meets the customer expectations and needs. Designing helps in the value added in a product thus making it remain long in the market
-It improves products reputation
-Helps in boosting customers’ loyalty to the company
-It strengthens the identity of the business
3. Defining metrics.
This can be referred to the process of understanding customers’ cultures, values, beliefs and lifestyles in order to know their products and service’s needs.
Risks in defining metrics.
In order to get adequate information about the way of life of a certain group of people, carrying out a research is a reliable method. Research undertaking is expensive and there is a likelihood of losing money when the research fails.
Value of defining Metrics.
Defining metrics acts as a guideline on what product or service to produce for a certain group of people. This helps in avoiding the risks of providing products that may not be in demand. In addition to that defining metrics helps in carrying out effective market segmentation and price discrimination.
This can be defined as a process of constantly making small improvements in a business process to improve quality and efficiency.
Risks associated with Kaizen approach.
When a new change is made to the original business process, the risk of damaging it is likely to occur.
Value of Kaizen approach.
Kaizen approach helps in improving production processes thus increasing products produced. These products are provided to the customers who had demanded. More productions and sales increase a company’s profitability.
6. The Six Sigma.
This a technique used to improve the company’s general process. It stands for sort, set according to set standards, shine, standardizing, sustaining and safety.
The risk associated with the Six Sigma.
The technique is a bit complicated and can easily cause confusion in a company which put it at a risk of loss of money and poor production process.
Value of Six Sigma
If well managed, this tool can greatly improve a company’s process and therefore increase the production of goods. As more goods are produced, the more the company realize profits.
Imai, M. (2012). Gemba Kaizen: A commonsense approach to a continuous improvement strategy. New York: McGraw Hill.
Shaffie, S., & Shahbazi, S. (2012). Lean Six Sigma. New York: McGraw-Hill.
Truscott, W. (2012). Six Sigma. Hoboken: Taylor and Francis.
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