Total Quality Management Technique
Description
Select a well-known company with which you have some familiarity (specify the type of industry). Then, select 1 of the contemporary management techniques listed in Chapter 1 of the Blocher et al. text. Why and how do you feel that the contemporary management technique selected would be a positive force in helping the company achieve its critical success factors?
Total Quality Management
Total quality management (TQM) is a method by which management develops policies and practices to ensure that the firm’s products and services exceed customers’ expectations. This approach includes increased product functionality, reliability, durability, and serviceability. Cost management is used to analyze the cost consequences of different design choices and to measure and report the many aspects of quality, including, for example, production breakdowns and production defects, wasted labor or raw materials, the number of service calls, and the nature of complaints, warranty costs, and product recalls.
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The company chosen for this particular study is Cooperative Bank of Kenya. The company offers financial services in the banking sector with a little bit indulgence into the insurance industry. The Cooperative Bank of Kenya is planning to employ the technique of total
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