3. Best practice means finding - and using - the best ways of working
to achieve your business objectives. It involves keeping up to date
with the ways that successful businesses operate - in your sector
and others - and measuring your ways of working against those
used by the market leaders
Best Practice Through Benchmarking
Applying best practice means learning from and through the
experience of others. One way of doing this is through
benchmarking, which allows you to compare your business with
other successful businesses to highlight areas where your business
could improve.
4.
5. Know Your Suppliers
The Compliance Oversight Committee
Don’t Let Growth Overwhelm You
Lessons for the Compliance Practitioner
6. Its by Total Quality Control (TQC): As per
this program Toyota works together with
its suppliers to improve methodologies
for its component products. The TQC
model embedded quality into Toyota’s
production system up and down the
Supply Chain. Additionally, through the
program, Toyota was able to understand
the critical link between quality and profit
through high customer satisfaction.
7. Another key component of Toyota’s overall
quality program was a high-level oversight
committee which had been set up to deal
with quality issues in 2005. This oversight
committee was made up of persons across
functions within the company and had the
power to deal with issues outside of typical
bureaucratic silos. The job of this committee
is not only to review and manage traditional
high risk areas such as third party business
representatives but a company can create
such committees for other high risk issues
particular to a company.
8. Once Toyota moved from traditional
methodology of quality over growth as
previously besides quality they were
skeptical about growth also but now
when they started focusing on quality,
market share almost got doubled in a
little spam of 10 years.
9. The growth experienced by Toyota can also be
a clear lesson for the compliance practitioner.
Compliance must be rigorously implemented
and continued for a company to succeed in its
overall anti-corruption and anti-bribery policies.
The Toyota TQC model served it well until the
rigor surrounding it was reduced. This model
inculcated quality throughout vendors in the
Supply Chain. As its rigor was reduced due to
the replacing emphasis on sales, the quality of
Toyota’s product dropped. A company must
continue to push compliance throughout its
Supply Chain.
10. Quality control in terms education
Enhancing the performance of students by
improving quality of professors
Full utilization of resources it being human or
infrastructural
Providing world class training to all students
and its staffs
Inculcating the importance quality rather
growth in terms of students and placements
11. Lean Management
Total Quality control
Six Sigma implementation
Enterprise, Resource and Planning
Student Performance system
12. With Traditional perception we cannot
change the system, firstly we need to
change system in order to improve
education
Students should give opportunities in
domain which they have high priorities
Organization should focus more on
quality rather than growth
