“REVIEW OF TOTAL QUALITY MANAGEMENT IN SMES IN INDIA”
In today’s world, where every aspect of life is affected by competition and the need to excel, the distinguishing factor becomes quality management. Irrespective of the size of an organization, recognition of quality management as an important factor, holds the key to competitiveness in the global market. Total Quality Management (TQM) practices are prominently discernible in larger and multinational organizations; however adequate literature in not available on how TQM has been applied to SMEs in India.
Keyword : TQM , SMEs
We live in an era of a global contexts where economic competition is getting fiercer and more complex. Each company is struggling not merely to satisfy customer needs but is also desperate to supersede the others. In order for companies to survive and grow in the future, it is essential that they deliver high quality goods and services. Those that can deliver quality are the ones that will prosper in the next century (Ross, 1994). This can only be achieved through improvement in product performance, a constant effort towards world class organizations, cost reduction and increased customer satisfaction. In this context Total Quality Management becomes vital.
The three major issues on which companies actually compete are Quality, Price and Delivery. If a company chooses to compete in the market place on the basis of product or service price, then the level of competition is clearly defined; the low-cost provider wins. However, companies choosing the low cost approach may find themselves losing premium business to competitors while retaining the low-margin business in the long Rs (Victor, 1995). In fact, many companies have become aware of the need to make quality the competitive marketing strategy in a global market since they know that they are vulnerable to any competitor who can offer value at a lower price. The increasing acceptance of...