Chapter 3. The Economics of Defect Prevention
When a management team with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact.
—Warren Buffet
Religion and art spring from the same root and are close kin. Economics and art are strangers.
—Nathaniel Hawthorne
In economics, the majority is always wrong.
—John Kenneth Galbraith
Chapter 2, “Defect Prevention Frameworks,” presented the idea that process improvement activities have three perspectives: What? How? and Why? This chapter discusses why organizations must prevent defects and presents a view on how to analyze the changes from a profitability perspective. This book provides you with a set of tools your ...
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