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What are the principal objectives of Total Quality Management?
The principal objectives of TQM are:
a. Customer Focus as Customer Delight.
b. Continuous enhancement as a culture of the organisation that must be the way of life.
c. Focussed and relentless continuous cost reduction.
d. Focussed, continuous and relentless quality enhancement.
e. To make an organisation whereby each person is working towards making their organisation the best within its business and to capitalize onto the sense of achievement and working within a world-class organisation.
Organisations tend to organise their working areas by function, e.g. production, warehouse, sales and marketing, etc. Business processes occur across these functional groups requi
1. Wage ratios must lie in between the inter-country productivity ratios. 2. Large countries are always less specialized. 3. Low wage countries have bigger gains from trade.
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