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What Is the Difference Between Total Quality and Quality Control

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What is the difference between total quality and quality control?


Definitions:

Undistributed Profits

Earnings that a company has made that are not paid out as dividends to shareholders and are instead reinvested in the business or kept as reserves.

Expected Rate of Return

The anticipated amount of profit or loss an investment is projected to generate, expressed as a percentage of the initial investment.

R&D Project

Research and Development project, which involves investigative activities that a business or organization undertakes with the intention of making a discovery that can either lead to the development of new products or procedures, or to improvement of existing products or procedures.

R&D Activity

The process of investigating new ideas and refining existing products or processes through research and development efforts.

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