The author introduces Financially Focused Quality (FFQ) to the business world. The FFQ management strategy has been evolving over the years at Lockheed Martin and has been documented as having saved them millions of dollars. FFQ takes TQM and Full-Cycle Corrective Action (FCCA) a critical step further by including a financial viewpoint at the beginning of process improvement activity, and integrating recognition of cost in each step of the process.
In the 21st century, technical expertise alone will not be enough. This book offers valuable financial concepts and insights that will greatly improve your worth to your companies. Equipped with FFQ concepts and methodologies, you will be able to observe your workplace from a financial viewpoint, enhancing your value as a decision maker and leader.
The book presents the methodology for insuring a company-wide education on key financial issues. With an understanding of basic concepts, the book explains FFQ elements and their use in making and implementing business decisions. The final chapters contain case studies showing successful FFQ applications.
Financially Focused Quality: TQM in the 21st Century gives you the skills necessary to implement FFQ in work environments, offering the prospect of improving the translation of quality and cost-cutting measures to the bottom line. It is an important professional reference and provides the financial education that all employees should receive to become leaders in the 21st century.