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Why is benchmarking an important component of TQM programs? DO you believe a company could have a successful TQM program without using benchmarking?
Management, Loose-Leaf Version
Solutions
Management, Loose-Leaf Version
Why is benchmarking an important component of TQM programs? DO you believe a company could have a successful TQM program without using benchmarking?
To determine:
The importance of benchmarking in TQM programs.
Introduction:
Benchmarking refers to the way by which evaluation is carried on with the help of comparison. The business processes of different companies are compared so that they know where they stand technically. The companies are selected for comparison based on the selected toughest competitors. The comparison is generally made between the factors of time, cost, value, and quality of the organizations.
Explanation of Solution
Total quality management is an approach that is used to manage the company. This helps the company to achieve success for a longer term. Customer satisfaction is the most important criteria under total quality management.
Benchmarking is an important tool in total quality management. It helps in measuring the products and services against the competitors who are tough...
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