TQM Strategy & Toolkit Essay Example | Topics and Well Written Essays - 2500 words

TQM Strategy & Toolkit - Essay Example rts as it can be used for identifying organizational procedures, ideas, cause and effect matters and business statistics that are related to the business organization. This piece of research work is an attempt to examine the relevance and organizational significance of Total Quality Management with relation to the case of Financial Collection Solutions and Services (FCSS). This paper identifies most appropriate TQM tools that can help the company develop its software based business of credit cards and other payment solutions. The concept of Total Quality Management and its importance in the business and economy have dramatically increased in recent years because it has been considered to be an effective strategy that can help managers to become accustomed to the changes in both technology and changing customer attitudes as well customer demands. When the business contexts continue changing and are challenged by innovative and technological advances, the business must be able to adjust with changes and to provide goods and services according to the changing business contexts. Customers, competitors, employees and stakeholders all are putting maximum pressure on managers to quickly innovate and change the business route. Total Quality Management is one approach that has emerged to meet these changing forces. This approach also has been termed as Continuous Quality Improvement (CQI) and Leadership Through Quality (LTQ) (Brown and Harvey). One of the very basic tasks and objectives of the management is to achieve quality in the business. According to Peter F Drucker, a business must be able to create a customer in a way that it can satisfy him by providing some product or services that he wants (Burril and Ledolter, 1999). A business can be said to have achieved the required ‘quality’ when it provides excellent products or services with required attractiveness, with no defects, and with reliability and long term dependability. Customers demand high value and