Design It for Profit
"Quality is never an accident; it is always the result of high intention, sincere effort, intelligent direction and skillful execution; it represents the wise choice of many alternatives." - Willa A. Foster
What is the relationship between product quality and profitability? The answer may surprise you. Various studies done in the '80s confirm that the most profitable companies over the medium- to long-term are those selling goods and services of high quality. Also, higher priced products yield a better return on sales and investment than lower priced products.
A high-quality product doesn't imply high-cost production. Many of our most efficient, profitable, and successful corporations combine a high-value product or service with low-cost production. That's a perfect combination.
Yes, organizations with the highest profits and profit margins are often achieving prosperity through quality. That's only part of the story. They're also constantly innovating and perfecting their niche strategy, habits critical in the development of the high-margin organization. High returns on investment and sales aren't accidental. High profitability is planned. Design your organization and your product for profitability.