production

Learning Targets
1. identify quality control processes in finance, including
 * quality-control measures
 * quality-control methods at work
 * crucial elements of quality control
 * the role of management in achievement of quality
 * efficient operating systems

Study:Read the chapter on quality control


2. implement **quality control** processes in finance, including
 * quality-control measures
 * quality-control methods at work
 * crucial elements of quality control
 * the role of management in achievement of quality
 * efficient operating systems

Simulation
We will be using simulation programs to implement quality control processes.

Lemonade Stand Lemonade Stand Simulation 2

Simulation Summary:
At the end of your simulated 30 days, record your financial status. You will create a balance sheet from your information. Answer the following questions about your simulation: 1. What quality control measures did you implement to ensure success? Were they successful? Explain. 2. How did the external factors impact your sales? Discuss pricing, quantity, advertising, shortage, and spoilage as a part of your answer. 3. What improvements could you implement for the next month to improve your sales and profit? 4. Compare and contrast the two simulations, Include pricing, weather, quality control, and financial outcome.