Learn To Talk Money

Abstract:Upper management speaks a different language from that of quality professionals. Management is driven by financial performance. Understanding and accepting management�s financial vocabulary will increase the likelihood that the quality professional�s suggestions will be heard and accepted. Quality professionals must not only understand what constitutes a defect or waste, but must also understand the financial impact the defect or waste has on the organization. Definitions of key financial terms offer the means to getting things accomplished faster and more predictably within an organization. Sidebars provide a sample balance sheet and income …

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