A discussion regarding total quality management in relation to value chain analysis.
Written in 2006; 2,025 words; 5 sources; $ 80.95
Paper Summary:
This document discusses total quality management (TQM) from the perspective of a specific TQM strategy. In this case, value chain analysis is utilized to illustrate a strategy within the umbrella of TQM. Value chain analysis is an excellent method of identifying key profit centers and activities within an organization and to arrange processes to enhance these profit centers in terms of performance and quality delivery.
From the Paper:
"The value chain can be described as, "...the sequence of major business activities that add utility (usefulness) to the products or services provided by an organization to its customers" (Hwang, 1999, p. 95). With that in mind any organization can be subdivided into the components that add value to each process comprising the production and delivery of its product or service. The reasons for examining an organization in this respect are many, but put succinctly, being aware of one's value chain and its components, "...will yield the greatest competitive advantage..." (Value, 1996, para.2). Establishing competitive advantage in today's marketplace has taken on proportions of mythic importance given that today's competitors may arise from any region and in many forms. Thus, for any organization, dissecting its value chain is not an exercise in futility, but rather, an exercise of necessity."
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