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Advance Quality Analysis Paper, Essay Example

Pages: 1

Words: 314

Essay

Quality standards that are driven by the pursuit of market share differ from the quality standards driven by regulatory compliance. Market share is usually the total percentage market that is accounted by an entity.  Quality standards that are driven in the pursuit of the market share often target a specific market segment. The quality standards driven by the market share are able to efficiently translate the sales targets into large profit margins (Defeo & Juran, 2010). This is because the quality products will easily gain a large market share as compared to sub standard products. For any organization, increasing the market share is the vital objective. As a result, the quality standards driven by the market share will help a firm in increasing their market.

Regulatory compliance is the aim that organizations aspire to achieve while ensuring that all the personnel comply with the existing laws and regulations. The quality standards that are driven in pursuit of regulatory compliance often target to fulfill and meet the laws and regulations. The regulatory compliance of the quality standards ensure that firms operate towards expansion or growth and increasing the consumer loyalty.

The quality standards driven by the pursuit of the market should differ with the one that is driven in pursuit of regulatory compliance. This is essential because the market share market targets capturing a vast market and growing its market. The market share is also independent of the macro environmental variables. In contrast, the regulatory compliance quality standards target the meeting of the laid down laws and regulations. The regulatory compliance is dependent of the macro environmental variables (Weait, 1994). As a result, any change in policy also affects the operation of the firm.

References

Weait, M. (1994). “The role of the compliance officer in firms carrying on investment business. Journal of International Banking and Financial Law, 381-384.

Defeo, J., & Juran, J. (2010). The Complete Guide to Performance Excellence. The Juran Institute: McGraw-Hill.

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