THE IMPORTANCE OF TQM CONCEPT AS A FACTOR OF COMPETITIVE ADVANTAGE OF COMPANIES

Stojanka Dakic
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Stojanka Dakic: Faculty of Economics Subotica, University of Novi Sad, Serbia

Perspectives of Innovation in Economics and Business (PIEB), 2010, vol. 6, issue 3, 18-20

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: Total quality management; ISO standards; TQM tools. (search for similar items in EconPapers)
JEL-codes: D21 L15 (search for similar items in EconPapers)
Date: 2010
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