Abstract
In today's competitive scenario, achieving total quality is the key to success. Most of the organisations are emphasizing on Total Quality Management (TQM) in order to provide better quality products and services to customers delivering value for money. After LPG (Liberalization, Privatization and Globalization) one of the major challenges faced by the organizations is competition from MNC's.Challenges Faced by Organisations:Indian organizations are facing a challenge form the inflow of MNCs since the government of India has implemented the process of Liberalization, Privatization and Globalization. In the light of this, they are in dire need of new ideas, approaches & techniques for attaining a competitive edge. TQM is creating a revolution in manufacturing and service organisations throughout the world. Various companies like Motorola, Toyota, Hero Honda, Xerox Corp., Maruti Udyog Ltd., Ashok Leylend, TCS; Telco etc. have initiated radical changes through the implementation of TQM tools & techniques.Challenges under WTO Regime:World Trade Organisation (WTO) is the only international Organisation, which deals with the Global rule of Trade between the nations, and it ensures that the trade flows smoothly, predictably and as fully as possible. Opening up of economies is mainly backed by WTO.Under the WTO regime, tariffs among the member nations will get abolished in near future. India being one of the founder members will certainly face challenges since the products of MNC's and Indian Organisations will be at par and since MNC's provide better quality & variety there are most likely chances for customers to switch over to MNC's products & services.General Agreement on Trade in Services (GATS):By the year 2005, MNC's will be freely entering into service sector also. It will include establishment of foreign universities, colleges etc. in Indian boundaries. This will certainly pose a big challenge. To ensure the survival, Indian Universities & organisations need to be competitive. Measures have already been initiated.
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