What is meant by the phrase cost of quality how can this, Supply Chain Management

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What is meant by the phrase cost of quality how can this

Question: 1. Research has shown that quality is still a major competitive concern of CEOs in American corporations. Is this level of concern about quality warranted? Explain your answer.

2. Summarize Jack Welch's perspective on the importance of quality. Do Welch's perspectives strengthen or weaken your confidence in the future of the General Electric Corporation? Why?

3. What is meant by the phrase cost of quality? How can this phrase help a firm address its quality concerns?

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