Behind every successful business plan there is a carefully executed business analysis. Creating a business plan involves variety of important parts like marketing plan, financial plan, operational plan, sales forecast and budget. In order to develop a good business plan, one which will be an effective guideline for your business, there is a business planning … Read more
SERVQUAL The SERVQUAL concept measures the service quality on the basis of multiple service quality drivers and there are variations of what should be measured and what drivers make the overall service experience and many organizations have been adopted the model by defining their own service quality drivers based on their business model and their … Read more
QFD was originally created to assist business users in focusing on the most relevant product, service and process features when working on developing new solutions or improving current products or services by considering the relevant feedback from the customer. Quality function deployment methodology helps in the process of converting the customer requirements into technical features … Read more
Complex decisions require well organized and structured approaches. A good decision making structure will help you outline your potential options and evaluate those options by comparing them on critical and important variables like risk, cost, profit, customer value, timing, resource requirements, etc. Generally speaking making decision is a process of making a tradeoff between risks … Read more
How to Pick KPIs for Management Dashboard Reporting The business process perspective of the balanced scorecard and every operational dashboard in business reporting is a critical driver for the productivity in the organizations. This is true for every type of business – service operations, manufacturing companies, professional practices and small businesses. This means that developing … Read more
Step costs are costs that will remain fixed over the range of a certain activity and after that they’ll change. Basically, these types of costs change in batches or certain fixed ranges at some point in time. As your capacity and operations change these ranges will change as well changing your cost structure (both fixed … Read more
The top priority and the main objective of the cost of quality approach should always be to improve the performance by focusing on continuously reducing the poor quality in every aspect of the business operations. The common issue in cost analysis for quality professionals occurs when hidden, indirect and opportunity costs have been ignored or … Read more