Toyota Motor Corporation Essay Example | Topics and Well Written Essays - 2250 words

Toyota Motor Corporation - Essay Example The satisfaction with the existing quality offered has made these organizations try and improve the product quality by way of incorporating various quality management techniques in the production process (James, Rowland-Jones and O’Brien, 2009). As a result, researchers over the years have introduced a wide range of competing perspectives, each different from the other in terms of analytical frameworks and various terminologies. However, the foundation of each theory is the same; establishing a relationship between product quality and pricing strategy of the organization. The five important approaches towards quality management are as follows: Transcendent Approach: According to this view, quality of a product is associated with its innate excellence. It is universally acceptable and an absolute concept that deals with uncompromising standards and high levels of achievement. Nonetheless, proponents of the transcendent view are of the opinion that quality is an un-measurable concept and is better defined as the recognition of the product through experience or repeat usage of the consumers (Slack, Chambers and Johnson, 2004; Arnheiter and Harren, 2006). Product based Approach: The product based definition regards quality as a measurable and precise concept. The differences in quality of a product can be attributed to that in quantity of the ingredients used in its production, thereby resulting in faulty attributes of the output. For example, a high-quality rug or mattress would have a larger number of knots per square inch. Hence, this approach gives a hierarchical or vertical dimension to quality by providing ranks to goods based on their number of favorable attributes. This approach has been incorporated in the theoretical models of economics (Namkung and Jang, 2007). The two corollaries of this approach are; firstly, the higher cost is incurred while attaining higher quality as quality reflects the number of favorable ingredients used in the process of production.