Monday, November 14, 2011

5 Things to Consider For Total Quality Management Processes

Is there any doubt in the fact that only those organizations grow fast that remain in the continuous improvement mode? Companies spend millions of dollars in research and development and learning from every stakeholder including staff, customers and competitors.

Buzz of “TQM” or “Total Quality Management” is heard in the management discussions. TQM allows organizations to learn from current practices and improve upon the quality of their of service,
product or procedure. It is rightly considered as an essential element of best management practices.

Size and depth of process improvement programs may vary from company to company, depending on the complexities, nature of business and age of the company. In addition to TQM, these programs may include Business Reengineering, Lean, and Six Sigma.

Startup businesses – Entrepreneur must at Key Factors

Start-up companies face many challenges from cash flow to inventory management, from marketing to retaining quality human resource, from keeping the overheads under control to dealing with legal matters.

Globally, a large number of startups do not succeed because the lack of business acumen and skill set required pushing business from one stage to the next. Entrepreneurs become passionate about their idea to an extent where they ignore the complications in implementing the idea.

Laura Parkin, chief executive of the Bangalore-based National Entrepreneurship Network says that;
“in some cases, what we’re seeing is the lack of ability to innovate besides cutting prices and a get-rich-quick mentality.”

There is no doubt that one of the key success factor for small business is “keeping lean”, however a million dollar question is “for how long this business should remain lean”?
Jared Chung – Founder, Starfish says,

Lean Startup requires that you confront all of the most uncertain parts of your business model up-front, based on the realization that uncertainty is the greatest foe of a startup.”

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