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

Stojanka Dakic

Perspectives of Innovations, Economics and Business (PIEB), 2010, vol. 06, issue 3, 3

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.

Keywords: Industrial Organization; International Development; International Relations/Trade (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:ags:jrpieb:125789

DOI: 10.22004/ag.econ.125789

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