Total Quality Management (TQM)
📈 Investing
intermediate

Quick Definition

Total Quality Management (TQM) is a comprehensive management approach focused on continuous improvement in all aspects of an organization, aiming to ensure long-term customer satisfaction and operational efficiency.

Examples

  • 1A manufacturing company implementing TQM to reduce defects and improve product quality.
  • 2A service provider using TQM principles to enhance customer service and reduce response times.
  • 3A healthcare organization applying TQM to improve patient care and safety.
  • 4A software development firm using TQM to streamline processes and enhance the quality of its products.

Tags

quality managementcontinuous improvementcustomer satisfactionoperational efficiencybusiness strategy
Quick Info
Category:Investing
Difficulty:intermediate
Last Updated:6/20/2025