Finding Support for Innovations in Quality Improvement Initiatives: Hidden Costs and Benefits

10 Pages Posted: 4 Nov 2009 Last revised: 29 Jul 2014

See all articles by Michal Tkac

Michal Tkac

University of Economics in Bratislava - Faculty of Business Economics

Stefan Lyocsa

Masaryk University - Department of finance

Date Written: November 3, 2009

Abstract

As it is often the case, innovations may originate as a by-product of quality initiatives. In the presented paper, our goal was to design a concept for cost benefit analysis (CBA) with regard to quality improvement projects. The creation of this concept was a response to a need for proving economical feasibility of a technological innovation and creation of a new product in an automotive supplier company in Central Europe, running a quality improvement initiative. The designed concept's contribution is twofold: first, it theoretically enhances the concepts of CBA in quality improvement projects and secondly, practitioners may use it as a guide to conduct a CBA.

Keywords: hidden costs, innovations, cost benefit analysis, cost of quality, Six Sigma

JEL Classification: M11, M2, O31, O32

Suggested Citation

Tkac, Michal and Lyocsa, Stefan, Finding Support for Innovations in Quality Improvement Initiatives: Hidden Costs and Benefits (November 3, 2009). Available at SSRN: https://ssrn.com/abstract=1499185 or http://dx.doi.org/10.2139/ssrn.1499185

Michal Tkac

University of Economics in Bratislava - Faculty of Business Economics ( email )

Tajovskeho 13
Kosice, 04130
Slovakia

Stefan Lyocsa (Contact Author)

Masaryk University - Department of finance ( email )

Lipova 41a
Brno, 60200
Czech Republic

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