Quality and Global Competitiveness

In decades past, it was not uncommon to have a limited number of companies within the same country from which products and services might be purchased.  This limited pool of available vendors often caused organizations to pay more than necessary for the goods and services that they purchased.

However, today, there is a global marketplace.  Some of the advantages and disadvantages of this global marketplace include the following:

Advantages

Entrepreneurship

Stock Market Availability

Technological Innovation

Taxation Differences

Unionization

Higher Education Availability

Disadvantages

Global Regulation

Inequity Between Classes of People

Basic Education Distinctions

Poorly Skilled Labor Force

Restrictions of Imports

Alienation of Companies Through Protective Trade Policies

In the present globalized market, there are multiple competitors in every �eld. To gain advantage in

this competitive market, organizations need to ensure they have the required quality to satisfy all their

stakeholders and customers. They must remember that quality is important to gaining a competitive advantage.

Activities that should be undertaken while devising appropriate quality strategies include the

following:

Implementing quality strategies to reduce costs and also improve processes and performance

Evaluating the competitive market

Focusing on all of the �nancial and business factors that impact quality

Considering the standard of living of the customers, manufacture different products to meet

customer demands, make sound investments, and utilize trade with other companies

One of the primary goals of quality management is to improve the organization’s competitiveness.

Some of the key areas in which changes are often required include:

Quality training

Employee empowerment

Leadership

Teamwork and Cooperation

All of the factors discussed in the video are more fully explored in the Supplemental Media entitled “A Global Marketplace.”  Review this document to learn more about the factors that in�uence companies in their quest to provide a product that can appeal to customers all over the world.