Quality engineering questionPlease read the pages and make a short and clear summary of them with your own words please. Mention only the necessary important partsAlso, you will put your comments and ideas about the topic brieflyIt is what you understand You must prepare neat the summaryThank you of debate between and among various interest groups andstakeholders. Nonetheless, when compared with other coun-tries competing in the global marketplace, the United Statesfares well in all of these key areas. This being the case, a keyadvantage of American firms trying to compete in the globalmarketplace is these six factors working in their favor. Otheradvantages and disadvantages are summarized in the follow-MANAGEMENT-BY-ACCOUNTING:financial considerations rather than broader thinking thatencompasses all factors that contribute to organizationalexcellence and make a company competitive.ANTITHESIS OF TOTAL QUALITYIn too many businesses, accounting trumps quality. Often,managerial accounting becomes the tail that wags the dog-aquestionable approach to doing business in a highly com-petitive environment. When managerial accounting becomesmanagement-by-accounting, quality inevitably suffers.Management-by-accounting amounts to focusing solely onan organization's financial performance rather than manag-ing the factors that most affect financial performance (e.g.people, process, and quality).The most obvious problem with management-by-accounting is that it leads to short-term thinking and short-term decision making. According to this approach, one of thefastest ways to improve financial performance in the short runis to ignore investing in continual improvement that are nec-essary to remain competitive in the long run. The practiceslike (1) keeping people trained and well equipped; (2) employ-ing best practices to keep processes operating at peak perfor-mance levels; and (3) maintaining world-class quality in allaspects of an organization's operations cost money in the shortrun but pay off in the long run. In other words, total qualityis a long-term concept while management-by-accounting is ashort-term concept.One of the many reasons why companies fall intothe management-by-accounting trap is that many CEOScome from a finance-related background, the most com-mon college degree among the American CEOS beingan MBA-a degree with a strong finance orientation. Toavoid such ideological pitfalls, all business-related de-grees need to include a more thorough study of quality. Itis also why more quality professionals need to put them-selves on the "CEO track" in their professions. Considerthe following problems that result from the application ofmanagement-by-accounting:The master's of business administration degree, or MBA,is an excellent credential. So are the various other under-graduate and graduate degrees available from collegesand universities in the United States. It is the concept offocusing excessively on the score rather than the game-management-by-accounting-that is being questioned byquality advocates, not any specific degree. Management-by-accounting is an approach to management, not an aca-demic credential.As anyone knows, both the game and the score are im-portant. We advocate a blending of the principles of qualitymanagement with the curricula of business, engineering,technology, and management programs. Students pursuing adegree in any of these disciplines should learn the principles ofquality management set forth in this book as well as their tra-ditional curriculum content. This will ensure that they knowhow to continually improve both performance and the score.ing sections.Global Advantages of U.S. CompaniesIn the global marketplace, the United States is the worldleader in the following industries: aerospace, airlines, bev-erages, chemicals, computer services, electrical products,entertainment, general merchandise, motor vehicles, officeequipment, paper products, pharmaceuticals, photographicand scientific equipment, semiconductors, soap and cosmet-ics, and tobacco. Some of the reasons the United States isable to lead the world in these key industries include1. Strong entrepreneurial spirit2. Presence of a "small capitalization" stock market forsmall and mid-sized companies3. Rapidly advancing technologies4. Comparatively low taxes5. Low rate of unionization6. World-class system of higher education (colleges anduniversities)U.S. COMPANIES: GLOBALSTRENGTHS AND WEAKNESSESThe United States leads the world in new business start-ups.This is because the entrepreneurial spirit is an integral partof the American persona. The presence of a small capitaliza-tion stock market allows small and mid-sized companies tostart up and expand without having to use all of their owncapital or to take out higher-interest loans from banks, asAs business continues the current trend toward global-ization, how are companies in the United States faring? Abusiness trying to compete in the global marketplace is likean athlete trying to compete in the Olympics. Nowhere isthe competition tougher. Correspondingly, no country inthe world gives its businesses such a solid foundation fromwhich to work. The following factors account for a country'sability to compete in the international marketplace:is often the case in other countries. The United States leadsthe world in the development, transfer, diffusion, and useof technology. This helps ensure a continual stream of newproducts on the one hand and improved productivity on theother. Americans complain constantly about taxes (as theyare entitled to do in exercising their rights as free citizens).But when compared with other industrialized nations, the1. An economy that is open to foreign investment and tradeUnited States has a low tax burden. Tension between laborand management can harm productivity and, in turn, de-crease a company's ability to compete in the global market-place. The amount of tension that exists between labor andmanagement can typically be demonstrated by the level ofunion activity: the more the tension, the more the unionactivity. Compared with other industrialized nations, unionactivity in the United States is low.The United States also provides the world's best highereducation system. The number of top-notch colleges anduniversities in the United States is so much greater thanthose in other countries that comparisons are irrelevant.. Management-by-accounting leads to decision making byanalysis of financial spreadsheets rather than by consider-ation of the factors that lead to organizational excellenceand world-class quality.2. A government that minimizes controls on business butdoes a good job of supervising financial institutions3. A judicial system that works well and helps reducecorruption4. Greater transparency and availability of economicinformation- Management-by-accounting encourages short-term costcutting instead of long-term improvements to quality,value, and competitiveness.- Management-by-accounting leads to narrowly focusedleadership of companies based solely on short-term5. High labor mobility6. Ease of entry by new businessesThe costf higher education in America, although viewedIn varying degrees, the United States meets all of these crite-ria. Of course, how well these criteria are fulfilled is a matteras high by U.S. citizens, is inexpensive when compared withthat of other industrialized nations. In addition, financialaid is so readily available that almost any person with the

Total quality management (TQM) is a management technique used by organizations to achieve excellence…

Quality engineering question Please read the pages and make a short and clear summary of them with your own words please. Mention only the necessary important parts Also, you will put your comments and ideas about the topic briefly It is what you understand You must prepare neat the summary

Quality engineering question Please read the pages and make a short and clear summary of them with your own words please. Mention only the necessary important parts Also, you will put your comments and ideas about the topic briefly It is what you understand You must prepare neat the summary

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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