How much is quality really worth? A new report out by the UK’s Charted Quality Institute claims that it’s actually worth quite a lot. The report argued that Quality Management programmes currently add £90 billion the UK’s economy and further claims that if quality management programmes were more extensively rolled out, the economy would be £52 billion better off and we’d have nearly half a million more jobs.

Even for individual companies the benefits can be immense, said the report, calculating that for every £1 spend on a quality management programme, costs were reduced on average by £16 and revenues were increased by £6.

In this Process Perspectives podcast, Simon Feary, CEO of the Charted Quality Institute explains the report’s findings, identifies the key areas of the economy where he see huge opportunity for quality management programmes and even delves into why quality management can help provide some answers to governments dealing with tough economic conditions.

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