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Quality Costing Technique: An Appropriate Financial Indicator for Reducing Costs and Improving Quality in the Organizations
[working paper]
Abstract Quality costing method is one of the total quality management (TQM) tools. This technique is also the most significant financial performance indicator, which can assist the companies to monitor and control their expenses related the quality of products and services during production process, in orde... view more
Quality costing method is one of the total quality management (TQM) tools. This technique is also the most significant financial performance indicator, which can assist the companies to monitor and control their expenses related the quality of products and services during production process, in order to ensure that the firm is able to satisfy the requirements of the customers. Accordingly, the adoption of this method can cause that the companies save money and being more competitive in the market. However, the main purpose of this paper was to explore and discuss regarding the aspects of this TQM tool, and how it can detect unnecessary costs and maintain good quality for products and services with an aim to attain highest level of customer satisfaction in the organizations.... view less
Keywords
enterprise; quality assurance; costs; monitoring; competitiveness
Classification
Business Administration
Free Keywords
appraisal costs; control costs; failure costs; quality costing technique; quality costs; prevention costs
Document language
English
Publication Year
2017
DOI
https://doi.org/10.5281/zenodo.375973
Status
Preprint; not reviewed