Q4

Q4 The concept of Total Quality Management (TQM) is considered with immense significance in the modern day business context. Similar to every other conceptual framework, TQM also is based upon certain basic tenets or principles. One of these principles is its customer centric approach. This principle advocates that companies must implement TQM in all fields keeping in mind that customers are the ultimate judge to identify the quality of product. Another basic tenet of TQM signifies, employee enablement, with the belief that such an approach can enhance the quality of the products or services offered to the customers without hampering the quantity. Continual improvement can also be added as a basic tenet of TQM concept. This particular principle denotes that improvement of the company in terms of quality as well as quantity should be a continuous process. It is worth mentioning in this context that the sole intention of TQM is to obtain efficiency in managing both quality and quantity with equal importance. The key notion considered in this regard, signifies that balance between quality and quantity is vital to attract customers at an increasing rate and also preserve customer loyalty for a longer time-period. Owing to such significance of TQM, the inferences drawn through this framework must essentially be reliable. This constitutes another basic tenet of TQM, where matrices are required to be used to draw inferences and justify strategies for maintaining a balance between quality and quantity prospects. Last but not the least; managerial leadership practices within the organization also play a major influencing role in contributing towards the effectiveness of the TQM strategies applied (Reynolds, 2013).
Reference
Reynolds, P. (2013). Principles of Total Quality Management. Retrieved from http://www. etechgs. com/blog/post/Principles-of-Total-Quality-Management-(TQM). aspx