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QUALITY and the ECONOMY... Part 2

As a follow-up to the open question from my previous article, where then are the "missing links" with  "Quality" of the service/financial product industry given the current economy?

From a 50,000 foot perspective, regardless of whether the business is hard goods, service, or the financial sector, the basics of business still apply. These basics include providing a customer with a desirable product at a reasonable cost. Let's look specifically at the mortgage industry as an example with the typical homeowner as the customer and the product being a home mortgage.

Using the latest Baldrige Criteria (ref. 1) as a model, for analysis, the Categories for evaluating the performance of a business are:
   1. Leadership
   2. Strategic Planning
   3. Customer Focus
   4. Measurement, Analysis, and Knowledge Management
   5. Workforce Focus
   6. Process Management
   7. Results

Given that results are generically defined as "bad" if by use of the basic business equation (Income - Expenses = Profits) profits are negative (i.e. a loss)

What then went wrong from a "Quality" perspective? What are the "Whys"?
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Next Dinner Meeting

January 29th Meeting

Transforming the Industry:  The Rooms To Go Story

Register by noon, Monday January 26, 2009.

Hilton Suites, 6120 Peachtree-Dunwoody Road, Atlanta, GA 30328
See the current newsletter for directions.

This presentation will offer you the opportunity to understand how a company can exploit changes in our culture to grow a business.  It will also define how quality assurance can be used to influence the strategic objectives of a company to create barriers to the competition.  You should leave with a better appreciation for the need to understand how your company’s processes work and how to apply technology to reduce expenses, increase profitability and improve customer satisfaction.

You will be given a front row seat to the journey that is taking place in a dysfunctional industry starting with a blank slate and culminating in industry standards that are being readily adopted by other furniture importers, furniture manufacturers and furniture retailers, competitors and non-competitors alike.

This unique view is from an industry outsider who with no formal education in quality assurance has developed a comprehensive systemic approach to improving his company’s product and services.  Rooms To Go is the largest privately held furniture retailer in the United States interacting with suppliers in United States, China, Vietnam, Indonesia, Malaysia, Brazil, Canada, Mexico and Italy.

 

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