Quality in business has never mattered more, say Ashwin Srinivasan and Bryan Kurey, writing for Harvard Business Review.
As the authors point out, online customers can compare products from all over the world, consumers can find objective data on the World Wide Web and read user-generated reviews. When users are unhappy with products or services, they use social media to tell the world about it. As many as 75% of B2B customers rely on word of mouth when making purchase decisions.
These sources provide an “early warning system” for quality problems, observe Srinivasan and Kurey. However, they also point out that although the margin for error has decreased, the likelihood for error has increased, with cycle times compressing, output gains outpacing employment growth and employees finding it hard to keep up with demand.