What impact could a poor quality product have on a company? How does reputation help a company to be more competitive? How do you think a company can improve their vendor and customer relations?
What impact could a poor quality product have on a company?
Respond to the following questions with your thoughts, ideas, and comments. Be substantive and clear, and use examples to reinforce your ideas. There are many reasons why a company should pay attention to their reputation as it relates to their future vendor relations and product supply costs and availability.
Complete the following: Discuss why it is important for organizations to manage their reputation by answering the following questions: What impact could a poor quality product have on a company? How does reputation help a company to be more competitive? How do you think a company can improve their vendor and customer relations? Summarize 3 examples of what goes into the reputation of a company.
What Are the Four Ways in Which Quality Can Affect a Company?
Quality affects a company in a variety of ways, from productivity and profitability to customer satisfaction and public perception. In addition, quality affects the overall operating costs of a company. Focusing on quality helps keep a company strong in all areas.
Causing Problems with Productivity
Poor quality costs a company money in terms of productivity problems. If a company uses low-quality parts, systems break down, regardless of any high-quality parts also used. Low-quality parts can cause mechanical breakdowns, as well as work slowdowns or even stoppages.
Impacting Company’s Profitability
Quality increases profitability. When employees are engaged in a work environment in which teamwork is emphasized and where quality products are the goal, the work environment flows more smoothly than one in which quality is an afterthought.
Influencing Customer Satisfaction
Quality has a direct bearing on customer satisfaction. If a company produces a quality product, satisfied customers will rank that company higher in surveys than companies that fail to provide quality products or services. In addition, dissatisfied customers are more vocal in their criticisms of a company with quality problems. Various websites will rank different companies according to customer satisfaction and quality products. Poor companies may get an initial sale of a product or service but it will not create repeat customers.
Directly Affecting Costs
Quality directly affects costs in a business. While using less expensive parts and equipment might cut costs in the short term, the long-term effects might be far more expensive. For example, using certain software that costs less might save a company money in the short term, but that software might be more complicated than more expensive software or lack customer service. In that case, employees will take longer to understand how to use the software. On top of that, if a problem arises with the software, the lack of customer support means it takes longer to accomplish the job, thereby costing the company more money than if it had used a more expensive, higher quality software product.
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