Total Quality Management in Business Today

Paper Summary:

This paper begins by explaining what total quality management is and how the concept of quality is essential in today's business world. It defines quality and looks at the cost of quality. The paper looks at the evolution of TQM and one specific model thereof known as the Oakland method. An analysis of how TQM can be implemented into a business is included, as well as criticism of the method. The paper concludes with an examination of the future of TQM.

Total Quality Management (TQM)
Introduction
Definition of Quality
The Cost of Quality
The Evolution of Total Quality Management
Oakland's Model
Continuous Improvement
Implementing TQM into a Business
Criticism of TQM
The Future of TQM
References

From the Paper:

"The only disadvantage is that almost all the cost reductions that are achieved because of the implementation of the TQM strategies will be seen within the first few years of its implementation, and the percentage of cost reductions that have been a result of the TQM will steadily decrease after the initial years, maybe because of the fact that there will be very little to change after those years. When a business wants to remain competitive, then it will not rely completely on the principles of TQM; it must be willing to use other methods of improvement as well as of cost reduction in conjunction with the TQM methods, and this will bring about greater benefits for the company. This in other words means that though TQM will be a major part of the organization, it will not be the only method being used. Though TQM addresses the operational processes within the organization, it does not touch the financial system as well as the business development system, and these must also be tackled in order to achieve the desired success. (Competitiveness of the future, Building on to the TQM Foundation)"

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