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I Hope You’ve got your notes. Now, We will have a quick Intro of TQM. But for Complete notes, download our notes if you didn’t.
In this Modern Scenario, All the firms are using Customer Oriented Approach. Now the firm can’t produce goods according to their requirement. They have to produce goods according to the customer’s needs.
Now, Customers want Quality Product at lesser prices. Customer is the King of the market. The firm has to keep in mind their needs.
Most of the Companies have to shut down their business. That’s because they are not able to maintain the quality in their product at fewer prices.
So, what is the Meaning of Quality according to you???
In simple words, Quality is something which confirms its satisfaction.
Total Quality Management (TQM)
In simple words, the Quality of a product is not a one time value. The firm has to continuously do the improvement in the product. It’s benefit is that customer willn’t shift to another product.
Elements of Total Quality Management (TQM)
In TQM, Firm has to keep an eye on various aspects-
- Intense Focus on Customers- both Internal and External.
- Continuous Improvement should be there.
- Improvement in every dimension- not only in the final product but also in products, services, the complaint received from the customers.
Importance of Total Quality Management (TQM)
- Retain the Customers.
- Make customers your Brand Conscious.
- Outpace the competitors.
- Satisfy the Customers.
- Increase the market share.
- Increase the profit.
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