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Advanced Management Accounting - Total Quality Management (TQM)

Advanced Management Accounting - Total Quality Management (TQM) - Assignment Example

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The introduction of new digital methods and techniques; along with other advances in business and industrial disciplines have forced the organizations taking up new methods. T.Q.M…

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Advanced Management Accounting - Total Quality Management (TQM)

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Subject: Finance & Accounting
Type: Assignment
Level: Undergraduate
Pages: 5 (1250 words)
Downloads: 2
Author: monique53

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tion dynamics, provide an insight into the advantages that can be enacted through its integration, the possible drawbacks of T.Q.M and the considerations that need to be taken into account in case of its implementation, and finally, providing recommendations about its application with context to Spearhead Ltd. Reduced profits and shrinking in the network has brought about realization towards implementing quality system. T.Q.M being the front runner amongst quality systems has been suggested for implementation. T.Q.

M is acronym for Total Quality management. As the name would imply, it pertains to quality management. Further dissection of the meaning would provide an insight into the nature and domain of operational capacity it entails. It refers to integrating quality mechanism in the every discipline and every domain of the organizational structure (MUKHERJEE, 2006, p. 393). Since Spearhead Ltd is faced with financial sink age, the addressing of different areas is required. T.Q.M would enable this. The low productivity in the financial sector impacts the clients’ satisfaction as well as the overall mood of the organization.

Citing this, T.Q.M will enable undertaking a strategy that would enable overcoming the financial constraints. The domains of T.Q.M are not just limited to particular processes; rather it takes into account the working methods of the employees. The behaviour of the employees towards goals accomplishment along with the aptitude towards accomplishment of the goals and targets set forth. The focus of attention is the activities and the items used within as well. The use of the right of tools and techniques towards the accomplishment of tasks also entails the domain and consideration within a T.Q.M integrated system.

Spearhead Ltd must look into the areas where wastes are high in percentage .The wastes are defined as those items, products and activities that do not add any value to the organizational activity or overall output. They in turn

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