Total Quality Management (TQM): As an Element in Enhancing Competitive Gain of Companies

Organizations worldwide have been exploring ways to improve business practices to gain competitive edge. In this current scenario of very stern competition, companies 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 Total Quality Management (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, the output of which bring consumer satisfaction and continuous improvement.