How would you define 'quality' in the context of your company or a company you know well? What value does the concept of quality have for the company? Justify your answer by giving practical examples.
Additional Requirement
The question lies to Operations Management, particularly to Total Quality Management. The question is about quality in context of a company and the value of quality from company's point of view is discussed. An example Meinhardt Group has been given. Meinhardt is a multii-disciplinary company dealing with engineering services including civil, electrical, air transportation, hydraulic, land, structural, mechanical and marine, etc. In such a company, the concept of quality is of utmost importance because, their reputation is built on quality and parting with quality will prove to be a grave mistake for them. The solution has more details about this example.
Word limit 950