Study on Total Quality Management for Competitive Advantage in InternationalBusiness

Abstract

Total Quality Management (TQM) is the integration of all functions and processes within the organisation in order to achieve continuous improvement of the quality of goods and services. TQM is essential for today’s emerging global competitive markets. TQM always focus on customer satisfaction. TQM concerns for quality right from the suppliers in the supply chain. The Japan is the birth place for TQM, all or most of all TQM tools are developed first in the country Japan. Philosophically, TQM system in Japan is integrated, holistic and wholesome and doing well. On the other hand, the people of other countries were found unsuccessful, because of trying TQM tools individually but not in wholesome, without knowing their purpose. Global business comprises all commercial transactions which refer to all those business activities which involve cross border transactions of goods, services, resources between two or more nations. Transaction of economic resources include capital, skills, people etc. for international production of physical goods and services such as finance, banking, insurance, construction etc. Most of the largest corporations operate in multiple national markets in the world. The study examines the characteristics of international business. The study is based on key quality dimensions viz., reliability, responsiveness, competence, ease of use, security, and product portfolio. The research study has designed based on the empirical data collected from selected respondents. The study discusses its findings. Finally, it concludes with a summary of the results and some implications for future research. The findings of study may help for evolving new policy measures to encourage the customers and also the traders.