BUS443 WK4 DISC2
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BUS443: QUALITY MGMT
WK4 Disc2
In your discussion post,
Explain the importance of performance measurement in organizations.
o
Performance measurement is important in every business considering that it is essential for long-term performance development. Effective performance measurement assists businesses in identifying their strengths and weaknesses, top performers, areas for improvement, and setting standards using historical data (O’Neil, 2018).
Explain what the balanced scorecard is. Describe its four components.
o
According to Marr, a balanced scorecard is a strategy execution tool that, at the most basic level, helps companies to:
Clarify strategy – articulate and communicate their business priorities and objectives
Monitor progress – measure to what extent the priorities and strategic objectives are being delivered
Define and manage action plans – ensure activities and initiatives are in place to deliver the priorities and strategic objectives.
o
Evans & Lindsay explain, "The purpose of the balanced scorecard is “to translate strategy into measures that uniquely communicate your vision to the organization.” o
Marr addresses three components of BSC. 1.
Strategy Map: shows the overall destination as well as the key objectives and priorities a company must deliver along the way.
The strategic objectives are often organized along four perspectives that support each other.
Financial Perspective – outlining the financial objectives
Customer Perspective – outlining the objectives related to customers and the market
Internal Process Perspective – outlining the internal business process objectives
Learning and Growth Perspective – outlining the objectives related to employees, culture, and information system
2.
Key Performance Indicators
allow companies to measure and monitor progress against their most important strategic objectives (outlined in their
Strategy Map). Key Performance Indicators, or KPIs for short, are vital navigation instruments for managers. Each KPI needs to be defined well and includes targets or benchmarks.
3.
The third component of a BSC is an Action Plan that ensures the right projects, programs or initiatives are in place to deliver each of the strategic objectives on the Strategy Map.
Search and select an article about an organization that has successfully implemented the balanced scorecard and provides a summary of how the components of the scorecard have
added value, improved quality, and increased performance.
o
As a Volkswagen customer, I chose to spotlight their company. After eight years of financial losses and market share decreases, a new management team at VW do Brazil devised and implemented a strategy map and balanced scorecard to achieve a turnaround and culture transformation. The strategy map is used by the team to align
financial and project resources to the plan, as well as to encourage its more than 20,000 workers by communicating the strategy in various ways and implementing reward and recognition programs. It also sets new initiatives to coordinate the strategy's broad network of suppliers and distributors.References
Evans, J. R., & Lindsay, W. M. (2020).
Managing for quality and performance excellence
(11th ed.). Cengage Learning.
Marr, B. (n.d.).
What is a balanced scorecard? A quick overview
(Links to an external site.)
.
Bernard Marr & Co. https://www.bernardmarr.com/default.asp?contentID=973
.
O'Neil, M. (2018, November 19). Performance measurement: Simplify your process with the right tools
. Performance Measurement: Simplify Your Process With the Right Tools | Promises at Work. Retrieved from https://www.samewave.com/posts/performance-
measurement-simplify-your-process-with-the-right-tools#:~:text=The%20importance
%20of%20performance%20measurement,set%20benchmarks%20with%20historical
%20data. Rietberg, B. (2021, March 18). Volkswagen – performance in the Redemption Arc
. Go to Performance Magazine. Retrieved from https://www.performancemagazine.org/volkswagen-performance-redemption/
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Related Questions
The American Society for Quality (ASQ) defines quality as "the totality of features and characteristics of a product or service that bear on its ability to satisfy given needs".
a) Comment on this definition - is there anything you would add or change to improve it?
b) Describe two statistical tools or quantitative methods that might be employed to quantify an organization's ability to meet customer expectations, Be sure to include an explanation of how, specifically, each tool or method enables the accurate assessment of organizational output (product or service).
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the internet will not be GRADED.
1 Define quality in your own words as a consumer, and second as the producer.
2.
List all the dimensions of quality in the service industry and give examples for each dimension.
3 In your opinion what is the role of an employee in quality improvement in the company or organization?
4.
State your opinion on the effects of applying total quality management in the service industry.
5.
What do you think is the purpose of studying service quality management?
Submission statuS.
Submission
No attempt
4:10 PM
0) ENG
8/16/2021
32°C
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describe the Balanced Score Card and demonstrate how it can be used to entrench quality assurance into any institution’s strategic framework.
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Interview managers at a local company to identify the key business measures (financial, market, supplier, employee, process, information, innovation, etc.) for that company.What quality indicators does that company measure? What cause-and effect (interlinking) performance relationships would be of interest to the organization?
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Total quality management proposed that managers could not achieve improvements in quality by using a variety of tools and techniques in a disorganised way but that it is necessary to apply the knowledge, tools and techniques of quality throughout their organisation, to all functions and at all levels and to do so in a coordinated way.
Discuss how the contributions of Joseph M Juran and Phillip B Crosby substantiates the above scenario.
arrow_forward
Examine the Gap model's applicability in the education industry for determining quality.
Note: lesson for this in attached photo
arrow_forward
Audimax Company is an electronics company specializing in the manufacture of home audioequipment. Historically, the company has used solely financial performance measures to assessthe performance of the company as a whole. The company’s Managing Director has recentlyheard of the ‘balanced scorecard approach’ and is keen to learn more.Required:Describe the balanced scorecard approach to performance measurement.
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1. What is Total Quality Management (TQM)? Why is it important to
businesses?
2. TQM focuses on continuous improvement and employee Involvement.
Additionally, TQM utilizes tools such as, (1) Pareto Chart Analysis, (2) QFD
Analysis, and (3) Fishbone Diagramming. Describe these 3 tools.
3. What is benchmarking?
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Discuss the different characteristics and measurement of the “quality” of a budget fast food product and associated services. Use examples in your answer where relevant.
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a. describe the history and purpose of the balanced scorecard.
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Describe two balanced scorecard critiques.
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ions Management Spring21
Quality at the source in TQM can be achieved by
O a. Quality at the top management
O b. Customer satisfaction
O c. Supplier quality
O d. Worker's inspection
O e. Quality circles
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Q1. The elimination or minimisation of waste from activities within enterprises is an important element of most performance improvement methods. Explain then main types of waste and give examples of how these wastes can be hidden with the normal operations of a firm.
Q2. A local manufacturing firm which produces make to stock high added value products for the pharmaceutical industry has recently been requested by its owner to provide a proposal on the benefits of a predictive performance model and methodology from a workshop that you have recently completed. You are requested to produce the following report:1. Review the current state of the practice of performance management and reporting within this category of firms.2. Suggest a suite of appropriate key performance measures.3. Explain the benefits and challenges of an Ex-Ante or PredictivePerformance Demand Model approach to enterprise performancemanagement.4. Recommend a methodology on how this type of Enterprise PerformanceModel…
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Compute the following using customer satisfaction data from the table below.2.1 Mean Squared Error (MSE)2.2 Mean Absolute Deviation (MAD) 2.3 Mean Absolute Percentage error (MAPE)
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Quality engineering question
Please read the pages and make a short and clear summary of them with your own words please. Mention only the necessary important parts
Also, you will put your comments and ideas about the topic briefly
It is what you understand
You must prepare neat the summary
Thank you
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We know that a Balanced Scorecard is comprised of four components: financial (or stewardship), customer (or stakeholder), internal process, and
organizational capacity (or learning and growth). What would you include in a dashboard for the financial and customer components?
Essay Toolbar navigation.
BIVS
=
111
P
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An auditor used regression analysis to evaluate the relationship between utility costs andmachine hours. The following information was developed using a computer softwareprogram:
Intercept 2,050
Standard error of estimate 200Regression 0.825
Number of observations 36Correlation coefficient 0.800
How much is the utility cost if the company’s 10 machines will use 2,400 hours next month?a. ₱3,830b. ₱3,970c. ₱4,030d. ₱4,050
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. Environmental guidelines of Lufthansa airlines states:
Environmental Protection is a high priority goal--Protecting the environment is an expression of corporate responsibility. We aim for constant improvement--We adhere to environmental regulation. However, we want to do more: we employ the best available technology within the limit of our economic possibilities to continuously reduce the negative impact of our activities on the environment.
The Lufthansa balanced scorecard has the following perspectives and performance measures:
Shareholders Customers Employees
Profitability customer loyalty employee engagement
DCF yield quality image management qualities
Sales growth global presence service culture
Required
Explain why…
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Explain the method of Sensitivity analysis with example?
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Nonfinancial (Operational) Control Measures: Environmental Performance Assumethat the company for which you are working is interested in implementing a comprehensivemonitoring and control system regarding environmental performance. The company is convinced that improved performance in this area will lead to reduced costs, an improved corporate image, greater market share, and ultimately to greater financial returns. To supplement anumber of financial performance indicators in the area of environmental quality, the companyis interested in developing a set of nonfinancial performance indicators, which (it is hoped) willmotivate better environmental quality. In this regard, the company has embraced five strategic objectives: minimize hazardous materials, minimize raw/virgin materials usage, minimizeenergy requirements, minimize release of residues into the environment, and maximize opportunities to recycle.RequiredFor each of the five strategic objectives referenced above, provide at…
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Directions: For each of the following situations:
a. indentify the independent variable/s
b. name the dependent variable; and
c. give the two attributes of each variable
A study on customer's satisfaction based on the quality of food offered in fast foods.
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Sub part question, Please answer both
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a) Differentiate between physical quality and service quality
b) Discuss why quality control circles may not help to enhance quality management of service organizations?
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How can I Explain the research question and/or hypothesis? In the Quality Improvement Project to Determine the Knowledge, Attitudes, and Beliefs of Healthcare Providers Regarding the Treatment of Patients with Obesity.
Research Article
Van Stiphout, C., Alex, R., Turner, K., Twyman, K., Brown, J., Bowes, B., Charlebois, A., & Quinlan, B. (2022). A Quality improvement Project to Determine the Knowledge, Attitudes, and Beliefs of Healthcare Providers Regarding the Treatment of Patients with Obesity. Canadian Journal of Cardiovascular Nursing, 32(2), 11–17.
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snip
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Explain why the Malcolm Baldridge National Quality Award (MBNQA) criteria looks for a relationship between business results and a successful integration of customer and market information into the strategic plan.
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How can I Summarize the research study’s recommendations?
Article
The Quality Improvement Project to Determine the Knowledge, Attitudes, and Beliefs of Healthcare Providers Regarding the Treatment of Patients with Obesity.
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Analyze the student summative assessment results(attached) by discussing two possible causes of nonproficiency for students in certain areas after the summative assessment.
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week 7With regard to “Consumer Perceptions of Price, Quality, and Value: A Means-End Model of Synthesis of Evidence,” comment on the problem of perceived versus objective quality. Provide examples. How does this affect the marketing of services?2Think of two creative ideas for services to be provided by the grocery business industry. Be very specific in terms of the rationale behind your approach, and the systematic procedures (e.g., questionnaire) you would use to introduce your services to the market.In the health care industry, what other ideas do you have for providing better services to customers? Analyze and discuss your judgment about whether marketing in this industry is different because human life is involved.week 8″National Cultures in Four Dimensions: A Research-Based Theory of Cultural Differences Among Nations,” is considered seminal in several fields, including marketing, international business, and organizational development. Based on your…
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You are building a Quality Assurance team for your company. The hourly workers are in place and it is time to find the team leader.A) Write a job description for the position of Quality Assurance Manager. This position will have 10 hourly team members reporting to the manager. Research this position and list a minimum of 5 duties the manager must be able to perform. Include educational requirements, determine experience necessary.B) Write a formal job offer for the position of Quality Manager. Offer must include at a minimum, job title, duties, salary, dress code, company drug policy, and benefits.
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- The American Society for Quality (ASQ) defines quality as "the totality of features and characteristics of a product or service that bear on its ability to satisfy given needs". a) Comment on this definition - is there anything you would add or change to improve it? b) Describe two statistical tools or quantitative methods that might be employed to quantify an organization's ability to meet customer expectations, Be sure to include an explanation of how, specifically, each tool or method enables the accurate assessment of organizational output (product or service).arrow_forwardthe internet will not be GRADED. 1 Define quality in your own words as a consumer, and second as the producer. 2. List all the dimensions of quality in the service industry and give examples for each dimension. 3 In your opinion what is the role of an employee in quality improvement in the company or organization? 4. State your opinion on the effects of applying total quality management in the service industry. 5. What do you think is the purpose of studying service quality management? Submission statuS. Submission No attempt 4:10 PM 0) ENG 8/16/2021 32°Carrow_forwarddescribe the Balanced Score Card and demonstrate how it can be used to entrench quality assurance into any institution’s strategic framework.arrow_forward
- Interview managers at a local company to identify the key business measures (financial, market, supplier, employee, process, information, innovation, etc.) for that company.What quality indicators does that company measure? What cause-and effect (interlinking) performance relationships would be of interest to the organization?arrow_forwardTotal quality management proposed that managers could not achieve improvements in quality by using a variety of tools and techniques in a disorganised way but that it is necessary to apply the knowledge, tools and techniques of quality throughout their organisation, to all functions and at all levels and to do so in a coordinated way. Discuss how the contributions of Joseph M Juran and Phillip B Crosby substantiates the above scenario.arrow_forwardExamine the Gap model's applicability in the education industry for determining quality. Note: lesson for this in attached photoarrow_forward
- Audimax Company is an electronics company specializing in the manufacture of home audioequipment. Historically, the company has used solely financial performance measures to assessthe performance of the company as a whole. The company’s Managing Director has recentlyheard of the ‘balanced scorecard approach’ and is keen to learn more.Required:Describe the balanced scorecard approach to performance measurement.arrow_forward1. What is Total Quality Management (TQM)? Why is it important to businesses? 2. TQM focuses on continuous improvement and employee Involvement. Additionally, TQM utilizes tools such as, (1) Pareto Chart Analysis, (2) QFD Analysis, and (3) Fishbone Diagramming. Describe these 3 tools. 3. What is benchmarking?arrow_forwardDiscuss the different characteristics and measurement of the “quality” of a budget fast food product and associated services. Use examples in your answer where relevant.arrow_forward
- a. describe the history and purpose of the balanced scorecard.arrow_forwardDescribe two balanced scorecard critiques.arrow_forwardions Management Spring21 Quality at the source in TQM can be achieved by O a. Quality at the top management O b. Customer satisfaction O c. Supplier quality O d. Worker's inspection O e. Quality circlesarrow_forward
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