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MGT601 - SME Management - Lecture Handout 31

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QUALITY CONTROL – II

This lecture is dealing with the quality standardization under WTO.

Quality Control Programs in Developing Countries

  • Establish Strong National Leadership & Q.C Society.
  • Create Govt. & Commercial Compulsion for Reasonable levels of Quality.
  • Establish a Media For Exchange.
  • Establish an Extensive Program for Training.
  • National Standardization Efforts.
  • Public Awareness.

International Quality Standards

If each country had its own set of standards, companies in selling in international markets would have difficulty in quality documentation standards in the countries where they did business.

ISO 9000

It is set of standard governing documentation quality program. Proving to a qualified external examiner that they have completed with the entire requirement certifies companies. Once certified, companies are listed in a directory so that potential customers can see which companies have been certified and to what level. Compliance with ISO 9000 standards says nothing about the actual quality of a product. Rather, it indicates to customers that companies can provide documentation to support whatever claims they make about quality.

Five Documents of ISO 9000

ISO 9000 actually consists of five documents;

  1. ISO 9000
  2. ISO 9001
  3. ISO 9002
  4. ISO 9003
  5. ISO 9004

  6. Read more: MGT601 - SME Management - Lecture Handout 31

MGT601 - SME Management - Lecture Handout 18

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PROBLEMS FACED BY NEWLY ESTABLISHED COMPANY

This lecture will continue with the previous lecture problem and then chapter deals with the teething problem that a newly established company faces.

Cash Flow Analysis

If the projected sales associated financial requirements and available financial resources are known, the anticipated cash flow can easily be determined.

Cash Flow (Projected)

Cash Flow and Financial Transactions Period 1 Period 2
1) Cash flow    
Initial expense    
Fixed investment    
Operating expense    
Total cash outflow    
2) Cash inflow    
Cash sales    
Account receivables    
Total operating inflow    
3) Net cash flow (2-1)    
4) Desired minimum cash balance    
5) Total amount of funds required
[3 (if negative + 4)]
   

Read more: MGT601 - SME Management - Lecture Handout 18