What is Total Quality Management (TQM)?

By QuickBooks Canada Team

1 min read

Total Quality Management is a management idea that focuses on continually improving a business’s ability to deliver the best products and services it can to its customers. TQM is a long-term approach to increased customer satisfaction that uses a combination of strategy, data, and effective communications. TQM’s main benefits include cost reductions, increased customer loyalty, defect reduction, and higher employee morale. A variety of principles make TQM work, including a focus on customers feedback. Customer reaction to your quality improvements let you know if your employee training, strategy, or other changes are actually working. Another aspect that makes TQM work as best as it can is having complete employee involvement; do your best to get all of your employees on board with the idea of business-wide continuous improvement. Speaking of continuous improvement, it’s important to set clear goals and measure the business’s performance against its TQM goals on a regular basis. That way, you can adjust the actions and tasks to reach the business’s goals quickly and efficiently. To make the strategic approach of TQM successful across the business, all departments must work together and have an understanding of each other’s goals, and open communications between the departments must be encouraged.

References & Resources

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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