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Quality Costs and their Financial Implications on the Performance of Organisation

In: The 14th Economic International Conference: Strategies and Development Policies of Territories: International, Country, Region, City, Location Challenges | May 10-11, 2018 | Stefan cel Mare University of Suceava, Romania

Author

Listed:
  • Rodica AILOAIEI

    (Stefan cel Mare University of Suceava, Romania)

  • Elena HLACIUC

    (Stefan cel Mare University of Suceava, Romania)

  • Petronela VULTUR

    (Stefan cel Mare University of Suceava, Romania)

Abstract

Lately, quality has become a fundamental variable in the performance of organisations. But efforts to increase revenue often lead to partially abandoning product quality. The effect is often disastrous for the organisations – from additional costs incurred in an attempt to remedy defects to losing their market share. Good quality management results in avoiding unwanted costs. Quality control is focused on the method used to achieve each component of the final product, while having a compliance standard as guideline. Therefore, it is obvious that by acting on the causes that lead to a decrease in quality, considerable savings can be made, both financially and in terms of market share. To ensure the effectiveness of this approach, we need to identify the quality-related costs, as detailed below.

Suggested Citation

  • Rodica AILOAIEI & Elena HLACIUC & Petronela VULTUR, 2018. "Quality Costs and their Financial Implications on the Performance of Organisation," Book chapters-LUMEN Proceedings, in: Carmen NÄ‚STASE (ed.), The 14th Economic International Conference: Strategies and Development Policies of Territories: International, Country, Region, City, Location Challen, edition 1, volume 6, chapter 26, pages 291-303, Editura Lumen.
    • Handle: RePEc:lum:prchap:06-26
    DOI: https://doi.org/10.18662/lumproc.81
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    References listed on IDEAS

    as
    1. Hamzah Al-Mawali, 2013. "Performance consequences of management accounting system information usage in Jordan," Business and Economic Horizons (BEH), Prague Development Center, vol. 9(1), pages 22-31, April.
    2. Al-Mawali, Hamzah, 2013. "Performance consequences of management accounting system information usage in Jordan," Business and Economic Horizons (BEH), Prague Development Center (PRADEC), vol. 9(1), pages 1-10, April.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Quality; accounting; quality costs; performance;
    All these keywords.

    JEL classification:

    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights
    • F2 - International Economics - - International Factor Movements and International Business
    • F3 - International Economics - - International Finance
    • H7 - Public Economics - - State and Local Government; Intergovernmental Relations

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