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The importance of TQM concept as a factor of competitive advantage of companies

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Author(s): Stojanka Dakic

Journal: Perspectives of Innovations, Economics and Business
ISSN 1804-0519

Volume: 6;
Issue: 3;
Start page: 18;
Date: 2010;
Original page

Keywords: Total quality management | ISO standards | TQM tools.

ABSTRACT
In the modern business conditions companies are facing with very serious competition, so they are forced to invest great efforts to ensure high satisfaction of their customers and thus ensure their loyalty. In the described circumstances, the concept of TQM became a survival factor of companies in the market. Basis gaining competitive advantage in global markets is reflected in the adoption and development of the concept of TQM as a management philosophy that includes a set of tools and processes, which outputs bring consumer satisfaction and continuous improvement.
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