World class quality stands for 1. Less or no possibility getting it wrong during downstream realisation processes, Less or insensitive to extraneous factors that would affect performance. However, those who strongly believe in sigma six or similar measurements are mistaken. Quality is perceived by sometimes 'irrational' customers and therefore we need to enquire whether the customer is pleased. Having pleasure quantified means having pleasure lost.
Happiness is a feeling.
In fact talking just about quality with no reference to cost and delivery would be painting the picture partially. World class companies should be able to provide a value proposition to the customers that extends along the above three dimensions. To sustain in the competitive marketplace of today a company needs to cultivate long-term relatioships with its customers. In this sense it can very well be said that cost and availability also reflect on the quality of the offerings. However, none of these exist without quality people.