Why are Companies Constantly Upgrading their ERP Systems?
February 7, 2025
Bankruptcy is one of the natural states which a company may find itself in. Entrepreneurship is primarily about taking risks. When companies take risks, some of them succeed, whereas others fail. Hence failure is a natural part of the business. However, many critics of bankruptcy laws believe that there isn’t a need for an elaborate […]
What is the Wirecard Scandal all about and Why it is a Wakeup Call for Whistleblowers Anyone who has been following financial and business news over the last couple of years would have heard about Wirecard, the embattled German payments firm that had to file for bankruptcy after serious and humungous frauds were uncovered leading […]
How Modern Decision Makers Have to Confront Present Shock and Information Overload We live in times when Information Overload is getting the better of cognitive abilities to absorb and process the needed data and information to make informed decisions. In addition, the Digital Age has also engendered the Present Shock of Virality and Instant Gratification […]
Geopolitics, Economics, and Geoeconomics In the evolving global trading and economic system, firms and corporates are impacted as much by the economic policies of nations as they are by the geopolitical and foreign policies. In other words, any global firm wishing to do business in the international sphere has to be cognizant of both the […]
In the previous article, we have already come across some of the reasons why the government should not encourage funding of stadiums that are to be used by private franchises. We have already seen that the entire mechanism of government funding ends up being a regressive tax on the citizens of a particular city who […]
For an organization to be successful it is of paramount importance to exceed the customer expectations as to generate customer delight. One of the best ways of doing this is by providing quality products and services.
In technical language, quality means to a product adhering to the specifications. For customer probably meeting or exceeding the expectation could be quality.
Therefore, quality has different meaning to different people, for example, in automobile industry quality means cars with no defects and works smoothly.
Quality involves meeting and exceeding of customer expectations. So to summarize quality is:
According to industry and users quality has many definitions some of them are as follows:
Accordingly, Customers look at quality in different areas as follows:
The two main objectives of Total Quality Management are 100% customer satisfaction and zero defects. TQM is a process beyond quality of product or services; it deals with the business philosophy of the organization. TQM propagates the concept of doing right things right and at first time itself. In TQM:
The main focus of the total quality management is as follows:
Considering above focus points, scope of TQM can be defined as follows:
Total Quality Management gives a great importance to customers and suppliers. Here customers and supplier both can be internal as well external. The relationship of organization with customers as well supplier is critical in continuation of TQM. Therefore, it is important to understand customers and suppliers.
The main principles of Total Quality Management are as follows:
Your email address will not be published. Required fields are marked *