14 points for quality improvement:
- Create a constancy of purpose
- Adept a New quality-conscious philosophy
- Cease dependence on inspection
- Stop awarding business on price
- Continuous improvement in the system of production and service
- Institute training on the job
- Institute leadership
- Drive out fear
- Break down barriers between departments
- Eliminate slogans and exhortations
- Eliminate quotas or work standards
- Give employees pride in their job
- Institute education and a self-improvement programme
- Put everyone to work to accomplish it
5 truths about the valuation:
• simplicity is the key
• subjectivity is indisputable
• projection is always a margin of error
• precision is not a determinant of accuracy
• time is money