TQM in Accounting Essay example

* Total quality management (TQM): This model is concerned with the performance of all processes in an organisation, and the products and services that are the outcomes of those processes. It seeks continuous improvement and will involve everyone in the quest for quality.

Total Quality Management (TQM) is an organizational approach that seeks to identify and eliminate the root causes of issues that undermine quality whether in a manufacturing or service organization. As stated previously USPS as a product is in a state of decline and must find ways to eliminate barriers to attaining its service commitments.

TQM creates a greater financial yield by increasing output and productivity, making more profit which will please the shareholders and potential investors (Gilani, 2015). TQM is highly renowned for its strong improvement in customer satisfaction, by making changes and improvements to the delivery process, consumers will receive their produce quicker. Businesses can reduce warranty 's and support costs because of the improved quality of the product. There will be a fiscal discipline through eliminating unnecessary steps, allowing the business to cut costs, and offer lower prices to the consumer (Nayab, 2011). However there are also a lot of disadvantages some of the costs associated with TQM are; higher quality is expensive therefore will be noticed in the pricing of produce which may not be suitable for smaller businesses. Other costs are additional training, infrastructural improvement costs and maintenance and regular refresher training. TQM is not a quick fix solution it takes years of planning, dedication, time and resources. Highly competitive markets and environments don 't have the time for TQM because of the constant need for full dedication and resources to be spent on maintaining competitiveness, TQM would be seen as too much of a distraction (Gilani, 2015).

Total quality management also known in not realistic which is in philosophy type. It used to be a guideline to improve the basis of advance continuously in an organization. The total quality management set the strategy to achieve the vision of the organization. The second principle of total quality management, involvement of all employees. Every individuals should have their own opinions in order to improve an organization, so all the staff gather to come out with a better way to improve organization. Total quality management implement by maintain the quality of service and product to fulfill customer satisfaction, at the same time it does not break down the flexibility and inventiveness of an organization’s operation system. The total quality management take the responsibility to modify the process of organization improvement. It make sure the continuous improvement of the organization so the organization can use the smallest amount of cost to produce better quality of product so it can achieve customer’s satisfaction. The theory of total quality management make sure that the improvement of the activity and the technology is carry out continuously in order

Total Quality Management (TQM) is a long-term process the involves commitment, at all employee levels, and continuous improvement as to how activities are managed and controlled by organizations to present quality goods or services that satisfy internal and external customers' need and expectation(Miller, 1996). TQM is a bundle of tools, techniques, processes, principles and experts practices that over the years has been evolved and improved(Shiba,Graham and Walden, 1993). To name a few, researchers who significantly contributed in evolving TQM philosophy and practices, and tool and techniques are: Walter Shewhart, Edwards Deming, Joseph Juran, Armand Feigenbaum, Philip Crosby, Genichi Taguchi, and Kaoru Ishikawa (Boyer and Verma, 2010). In spite of differences in their TQM philosophy approach and definition, the fundamental principal goals of all TQM are the same. Oakland's idea of TQM does not differ either in that TQM objectives are fulfilled by realizing

Quality management is defined as management activities and functions involved in determination of quality policy and its implementation through means such as quality planning and quality assurance (including quality control), which also called total quality management (TQM) (Business Dictionary). Total Quality Management (TQM) is a comprehensive and structured approach to organizational management that seeks to improve the quality of products and services through ongoing refinements in response to continuous feedback. (Search CIO)

Total Quality Management (TQM) is an improvement tool that is widely used in many companies. It consists of many aspects including Managing people as well as business processes in order to maintain customer satisfaction. With TQM, Businesses starts to do the right thing from the start and to ensure zero error. Therefore, it is important to learn the principle of TQM and how it acts in organizations with its advantages and disadvantages.

Introduction - Total quality management (TQM) has been defined as ‘continuous improvement of every production output whether it be a product or a service, by removing inefficient variations and by improving the backbone of the work process’. International managers like their domestic counterparts have found that incorporating the notion of total quality management into their management process and style can give the competitive advantage.

Truly quality is something that relates to both performance and value from the customers perspective (Barfield 304). TQM is about building quality in from the beginning and making quality everyone 's concern and responsibility. Consumers are willing to pay a premium for higher-quality goods and services. Organizations that employ TQM (or a similar philosophy) work on the premise that any product or service can be improved upon and this improvement equals reduced cost, better performance and higher reliability. The basic goal of TQM is simply understanding and meeting the customers ' expectation every time. Understanding and meeting customer expectations is a challenging proposition and requires a process that supports continuing progress toward the goal of meeting customer expectations the first time, every time. A TQM program also has the goal of instilling confidence to management the intended quality level is being achieved and will continue to be maintained. The process employed must demonstrate repeatability and consistent results time after time. Finally, the customer must have confidence that the intended level of quality will be achieved in the delivered product or service (Barfield 313).

According to “Management: A Practical Introduction”, Total Quality Management is defined as a comprehensive approach dedicated to the continuous improvement of quality, training, and customer satisfaction. There are four components to Total Quality Management, and they include making continuous improvement a priority, getting every employee involved, listen to and learn from customers and employees, and using accurate standards to identify and eliminate problems (Kimiki Williams 528). For companies that use the Total Quality Management approach, these values will often times be defined in their core values and principles, and the specifics of these values may be different from company to company. As

Distinguishing a solitary exhaustive meaning of quality is a testing attempt. Quality is a multidimensional idea that includes; entomb alia, the solidness, dependability, area, outline and tasteful claim, execution and wellbeing of an item. Item decision can additionally be dealt with as a quality characteristic, despite the fact that it stays dissociable from the singular item itself. Basically, quality is a relative idea, insofar as the level of value found in any one item is characterized by reference to the quality levels of different items. Quality consolidates a huge component of subjectivity, in light of the fact that certain quality perspectives may be significant just to a few purchasers, or more profitable to some

While I agree that Quality improves organizations, businesses, and individuals, Total Quality Management (TQM) as a system for improvement loses its effectiveness based on the present culture, business methodologies, and globalization of markets.

The main aim of quality management is meeting or exceeding stakeholder’s expectations and conforming to the project design and its specifications. Till the desired quality is obtained a continuous repetitive cycle of measuring quality, updating processes takes place. Quality can be measured by the number of defects in the product.

Total Quality Management (TQM), is a management system that involves all organization functions, which focuses on meeting customers’ needs and organizational objectives which involve all employees continual improvement, and that seeks to improve the quality of products and services through ongoing refinements in response to continuous feedback (Rouse, 2005)

While implementing TQM measures in an MBA program, it has been found that more emphasis is given on improvement of administrative rather than academic functioning. Improvement in academic functioning is equally required for managing Total Quality in an MBA program. If TQM succeeds only in administrative reform then it will be not more than a marginal reform in the quality of the MBA Program. There can be many loopholes in academic activities of an MBA Program so bringing merely administrative reform would not promise for improvement in total quality of the program. Professors use to have a very strong self interest in improving the teaching and research standard but his self interest should be supported by the top management to bring the total quality in an MBA Program.