In the 1980s and before, the following two parameters were critical to competitiveness?
A. Cost and innovation
B. Quality and manufacturing excellence
C. Customer responsiveness and scalability
D. Responsiveness and reliability
Answer (2)
In the 1980s and before, the primary parameters for competitiveness were cost and innovation. Businesses aimed to minimize costs and drive innovation to differentiate themselves in the market. Companies that effectively combined these aspects often outperformed their competitors.
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In the context of business and industrial competitiveness, especially before and during the 1980s, the two key parameters that were critical to ensuring a company's competitive edge in the market were quality and manufacturing excellence . Therefore, the correct option is (B) Quality and manufacturing excellence.
During this period, Japanese companies were renowned for their focus on high-quality products and efficient manufacturing processes, setting new standards for global competitiveness. This era saw the rise of practices like Total Quality Management (TQM) and Just-In-Time (JIT) manufacturing, spearheaded by companies such as Toyota.
Quality : The emphasis was on producing reliable and durable products that met customer expectations. Quality control and management systems were implemented to minimize defects and ensure consistency.
Manufacturing Excellence : Companies sought to optimize their manufacturing processes to reduce waste, improve efficiency, and increase productivity. This was achieved through advanced techniques and methodologies that allowed firms to produce high-quality products at competitive costs.
The combination of quality and manufacturing excellence provided companies with a competitive advantage, as it helped them meet the increasing demands of informed consumers while maintaining cost-effectiveness.
