As a Master Black Belt I teach Lean Six Sigma courses and often provide definitions of common terms. One such term is “value” which I define as the ratio between quality and price (value = quality/price). To help explain, I often use the analogy of getting a meal at a fast food restaurant versus one from a high-end restaurant. There have been several occasions where I have spent $100 or more for a gourmet meal but left feeling that what I paid for was not worth the price. Conversely, I have gone to many fast food establishments and enjoyed a hamburger, taco, etc., for just a few dollars. Obviously, the nutrition and customer experience of these meals and restaurant services are vastly different but my satisfaction is not based solely on the quality of the food but rather a combination of taste, service and price. While quality is important, value is what most consumers base their purchasing decisions on.
I recently made a presentation at the ASQ student branch at a local university and began by asking, “What does a student receive for their membership dollars?” Surprisingly the students were unaware; the only response I got was “I think we get a newsletter.” I proceeded to explain about Quality Progress, the ASQ Career Center, and ASQ’s research library. I further explained that they, and all ASQ professional and advanced members, can join all of ASQ’s technical communities (aka divisions and forums) providing them exposure to the entire quality body of knowledge. I concluded the presentation by listing the vast benefits specific to Inspection Division members and urged the students to take advantage of all the opportunities provided.