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MOTIVATING KNOWLEDGE PROFESSIONALS LEADERSHIP TRAIT THEORIES

Motivating the “New Workforce i.e. Knowledge Professionals”

Another current motivation issue revolves around motivating the “new workforce.” These special groups present unique motivational challenges to managers. These professionals possess specialty knowledge of markets, of customers, of supplier, of software, of hardware, of technology and are very important to run the organizations smoothly in 21st century.

Read more: MGT503-Princilpes of Management-Lecture Handout No 37

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COSTS OF QUALITY AND RETURN ON QUALITY

The Cost of Quality:

It’s a term that’s widely used – and widely misunderstood. The “cost of quality” is not the price of creating a quality product or service. It’s the cost of NOT creating a quality product or service. Every time work is redone, the cost of quality increases. Obvious examples include:

• The reworking of a manufactured item.
• The retesting of an assembly.
• The rebuilding of a tool.
• The correction of a bank statement.
• The reworking of a service, such as the reprocessing of a loan operation or the replacement of a food order in a restaurant.

In short, any cost that would not have been expended if quality were perfect contributes to the cost of quality.

Total Quality Costs

As the table below shows, quality costs are the total of the cost incurred by:

• Investing in the prevention of nonconformance to requirements.
• Appraising a product or service for conformance to requirements.
• Failing to meet requirements.



Read more: MGT510 - Total Quality Management - Lecture Handout 18