ISO 9001: 2008 defines quality as ‘the degree to which a set of inherent characteristics fulfils requirements.’ Grade denotes a category or grade attributed to a product, and grades and categories of products having the same functional use can be widely different. The term quality assurance is used to denote actions that lead to building confidence in all concerned stakeholders that requirements would be fulfilled. The term quality control simply focuses on fulfilling quality requirements. Quality management, on the other hand, encompasses all activities, maintaining the focus on distinction and control aspects in an organization as regards quality is concerned.