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QICID: 20413
Title: What Are Quality Reputations Worth?
Copyright: 2006, ASQ
Author: Freiesleben, Johannes
Organization: Ringier AG, Zurich, Switzerland
Subject: Business performance,Cost of quality (COQ),Customer retention,Maintenance,Organizational improvement initiatives,Quality loss function,Quality management principles,Return on Investment (ROI), economic case for quality;
Series: Quality Progress, Vol. 39, No. 2, February 2006, pp. 35-40
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Abstract: The practical successes of Six Sigma have shown that quality initiatives have a substantial effect on an organization's bottom line. Yet quality professionals may experience difficulty convincing managers to keep up the efforts once a quality objective is achieved. The best approach is to focus on the most important long-term effect of good quality - a positive reputation. A reputation for quality affects sales by reinforcing the confidence of established customers, winning new customers, and inducing competitors' customers to switch. Reputation losses caused by quality problems pose a serious threat to a company's survival. A quality maintenance system is inexpensive to install and run and is more economical than an inspection system. The expected value of a maintenance investment can only be calculated by comparing the expected loss of reputation erosion to the depreciation rates of the maintenance program.
Number of pages: 6
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