Advantages Of Ferrari

All production/manufacturing and service companies throughout the world who provide products and services understand that it is crucial for them to meet customers’ needs and wants and also to be competitive in market. Therefore quality becomes a main topic and companies have to offer top quality products and services as the modern day customer has high expectations of quality. Ferrari is the example of company that exercise the cost effective quality approaches which attract customer all over the world. . The logic behind this is that companies would like to manufacture a product or service at less expensive cost as well as fulfilling the customer’s expectations. Most of the companies are loose out of the market because they could not offer a good quality for their services or goods. The purpose of this

Here are some of the financial benefits of a good and successful quality program.

2.2.1 Cost reduction

As a company becomes more adept with its Quality Management System (QMS), it will have fewer problems with failures in service or produce quality. Rightly laid regulated offer a possibility to recognise disadvantages of the company’s process on early stage and giving opportunity to begin a corrective action. This gives an ability to correct the dormant defects earlier and benefit to decrease and cost and time which are needed to fix defects. (The Economist, 1995)

By having a well-trained employees, who are duly educated in the goals of the processes and with the ability to analyse and discuss the processes, enhancement can be recognised previously. It guides to an organisational culture where enhancement are seeked; losses is challenged to enhance the overall performance and effectiveness of the organisation that guides to high profit.

2.2.2 Better Financial Decision