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A product's durability for example, can seldom be observed directly; it usually must be inferred from various tangible and intangible aspects of the product. In such circumstances, images, advertising and brand names -inferences about quality rather than the reality itself- can be critical.
Business ethics operates on the premise, for example, that the ethical operation of a private business is possible—those who dispute that premise, such as libertarian socialists (who contend that "business ethics" is an oxymoron) do so by definition outside of the domain of business ethics proper.
Quality is the ability of a product or service to meet and exceed customer expectations. It is the result of the efficiency of the entire production process formed of people, material, and machinery. Customer requirements determine the quality scope. Quality is a competitive advantage; poor quality often
Quality control (QC) is implemented as a means of fulfilling quality requirements, reviewing all factors involved in production. The business confirms that the good or service produced meets organizational goals, often using tools such as operational auditing and inspection. QC is focused on process output.
Dollar Tree has seen a tremendously successful year in terms of revenue. In Q1 2023, the discount destination experienced a 3.4% increase in same-store sales, and corporate also opened 107 new stores.
The plan–do–check–act cycle is an example of a continual improvement process. The PDCA (plan, do, check, act) or (plan, do, check, adjust) cycle supports continuous improvement and kaizen. It provides a process for improvement which can be used since the early design (planning) stage of any process, system, product or service.
Total quality management (TQM) is an organization-wide effort to "install and make a permanent climate where employees continuously improve their ability to provide on-demand products and services that customers will find of particular value."
A code of practice is adopted by a profession (or by a governmental or non-governmental organization) to regulate that profession. A code of practice may be styled as a code of professional responsibility, which will discuss difficult issues and difficult decisions that will often need to be made, and then provide a clear account of what behavior is considered "ethical" or "correct" or "right ...