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Answers to Readers' Questions - Strategies to Win Competitions. Also refer to contest, prize, reward, performance, head-to-head, predatory, contestants, opponents, score, judges, reputation, knowledge, head-to-head, offense, defense, deter, negative, predatory, attack, superior, weaker, bully, sports, athletics, business, war, Ron Kurtus, School for Champions. Copyright © Restrictions
Answers to Readers' Questions on Competition:
Advantage with TQM
The following 5 comments and questions have been sent in. They are listed according to date.
List of first 10 items
- How an organization create a competitive advantage?
- Problems that affect credit cooperatives
- How consumers are satisfied with fast food service
- Requirements for developing a strategic plan
- How does supplier quality affect costs?
How an organization create a competitive advantage?
Question
November 21, 2009
what is quality? How an organization can response to its importance to create competitive advantage?
zet - Malaysia
18714
Answer
A quality product is one that exceeds the customer's expectations and is reliable, such that it does not break down soon. It is not the same as luxury. A luxurious product may look nice but not perform well and may easy break down.
Customers tell their friends when they are pleased with the quality of something they bought. They will also tell their friends not to buy from a company that sold them an inferior or low-quality product. This word-of-mouth advertising can be a great competitive advantage to a company.
See our section on Total Quality at:
http://www.school-for-champions.com/tqm.htm
Problems that affect credit cooperatives
Question
December 11, 2008
i would like to ask about the problems that affects the credit cooperatives
Katrina - Philippines
16935
Answer
The major problem that occurs in credit cooperatives is a gross inefficiency in their functioning due to people not paying their loans. This can be due to mismanagement but also because the system has grown so fast that there is not enough oversight about who is given a loan or credit.
Just like with a standard company, growth is good, but it must be controlled growth. Also, in any financing situation, there are often dishonest people who will try to take advantage for their own profit.
How consumers are satisfied with fast food service
Question
December 11, 2008
Dear Sir,
Good Day!!!
I would like to ask again on how the consumers satisfied in terms of the quality of service rendered by the restaurant and fast food?
Thank you!!!
Mariane - Philippines
16934
Answer
The expectation of good service by the customer is usually higher the more expensive the food on the menu. A fast food restaurant usually has a lower price range and minimal service. As long as the attendants seem competent and are not rude, the customer will be satisfied. But in an expensive restaurant, customers expect a high level of service. In fact some may expect more service than is reasonable.
Requirements for developing a strategic plan
Question
March 31, 2008
1. What are the requirements for developing a strategic plan and how can a firm achieve competitive advantage through business strategy?
2. Planning is becoming more important activities for logistics managers. What are the hierarchy of planning and how does strategic planning differs from tactical and operational planning?
Thank you
Romanus - Malaysia
15636
Answer
A company needs to have some goals and objectives of what it wants to achieve in order to create a plan to reach those goals. If part of the goal is to gain an advantage on a competitor, the company management must know who the competition is and their strengths and weaknesses. They must also evaluate their own capabilities .
Logistics managers need a different form of planning, because of the complexity of logistics. Upper management would seek competitive advantage, while logistic management seeks effective operations.
How does supplier quality affect costs?
Question
October 21, 2007
Dear Sir,
thanks for helping me to understand the benifits of TQM. but i have one question in my mind and i think its very important.
i just want to know that to produce a quality good i need quality raw matertial for the manufacturing the product. so to buy a quality product i need to pay good amount. so this thing will increase my over all cost of my product. so now how you can say that TQM can reduce my cost?to produce good quality i need quality raw material which is available in market in higher price. please explain that i want to produce quality good so how TQM helps me?
becouse if i use cheep raw material which is available in low cost, my product cost is also low and i can sell my product more in quantity then other due to low price.
waiting for your prompt response.
Thanks
Abdul Mannan
Student of MBA (Marketing)
Pakistan
Abdul - Pakistan
14604
Answer
One important aspect of our TQM approach is to help your suppliers provide you with quality goods, as well as to reduce their costs. When you get a good supplier, you can create a partnership of continuous business. This save them money that might be spent on advertising and will even allow them to discount goods to you. Some companies even help to train suppliers to be able to provide quality goods.
You also want to look at the losses from inferior supplies and material. You may pay less for the goods, but it can result in more failures in your own products. This means losses in repairs. But even more so, it means your customers will accuse you of providing low-quality goods, even if the problem was with the supplier.
You want to get raw material at the best price possible, but you also must make sure that it does not affect the quality of your goods. Careful analysis must be made of the trade-offs involved. Check the effect of quality and cost of the raw materials and other supplies you purchase to the final quality of your product.
See our section on TQM at www.school-for-champions/tqm.htm for more information.
Summary
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