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Physical asset specificity, e.g. a specialized machine tool or complex computer system designed for a single purpose; Human asset specificity, i.e., highly specialized human skills, arising in a learning by doing fashion; and; Dedicated assets, i.e. a discrete investment in a plant that cannot readily be put to work for other purposes.
The dimension of conformance depicts to what extent a product’s design and operating characteristics meet established standards. This dimension owes the most to the traditional approaches to quality pioneered by experts like Juran. [6] Customers usually associate high quality with a product that exactly meets its requirements.
Quality management is a recent phenomenon but important for an organization. Civilizations that supported arts and crafts [clarification needed] allowed clients to choose goods meeting higher quality standards than normal goods. In societies where arts and crafts were the responsibility of master craftsmen or artists, these masters would lead ...
Within systems engineering, quality attributes are realized non-functional requirements used to evaluate the performance of a system. These are sometimes named architecture characteristics, or "ilities" after the suffix many of the words share.
The amount of time put into individual tasks determines the overall quality of the project. Some tasks may require a given amount of time to complete adequately, but given more time could be completed exceptionally. Over the course of a large project, quality can have a significant impact on time and cost (or vice versa).
In business, a competitive advantage is an attribute that allows an organization to outperform its competitors.. A competitive advantage may include access to natural resources, such as high-grade ores or a low-cost power source, highly skilled labor, geographic location, high entry barriers, and access to new technology and to proprietary information.
According to the United Nations Department of Economic and Social Affairs, the mortality rate for disabled people during a natural disaster is two to four times higher than the general population.
Loan quality and asset quality are two terms with basically the same meaning. Government bonds and T-bills are considered as good quality loans whereas junk bonds, corporate credits to low credit score firms etc. are bad quality loans. A bad quality loan has a higher probability of becoming a non-performing loan with no return.