(Financial and Non-Financial Measures) Phone-Tech manufactures cellphones that utilize a touch-screen platform. Part of its overall strategy is to provide a high-quality phone that customers NEVER return for warranty repair. The company wants to be able to measure its quality performance by using both financial and non-financial measures of quality.
- List the merits of both financial and non-financial performance measures. Can one exist without the other?
- Describe both financial and non-financial measures that Phone-Tech could utilize to help it ensure that it is meeting its quality standards.