Lasting Impression

Abstract:A study written by the Center for Economic and Business Research for the Chartered Management Institute and the Chartered Quality Institute examined the economic benefits of quality. The UK-based study was based on data gathered from a comprehensive review of relevant global business and economic literature, after which the authors made predictions as to what a series of case studies and a cross-sector survey of business professionals would reveal. The predictions were largely consistent with the case study data, and the case studies allowed the researchers to identify three types of return on investment, which were then divided by the costs of quality management programs to determine a per-dollar return. Among the findings of the survey was that quality initiatives reduced costs an average of 4.8 percent. Over 90 percent of respondents felt that quality management was a significant driver of success and a strong contributor to customer retention. Inconsistent with predictions, around a third …

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With all the statistical expertise in this organization, why can't we finally put to bed the voodoo economics models? Models that use data rather than ideology are actionable. Instead of simply pushing "quality," get specific.
--Mike Clayton, 12-09-2012

The article and research behind it provides a very strong argument for investing in quality management.
--Dave Cronin, 11-30-2012

Although this article tends to support the concept of the "Deming Chain Reaction", I never heard President Obama or Governor Romney say to "improve quality" and the outcome will be "jobs and more jobs". There is no quality leadership at the top.
--Mike Harkins, 11-08-2012

A very timely article on the positive relationship between productivity and quality.
--Martin ANDREW, 11-06-2012

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