Quality Management and Its Importance in Business

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Quality Management and Its Importance in Business

Table of Contents

Introduction
International Economic Integration
International Economic Organizations
Total Quality Management
Conclusion
References

Introduction

One of the peculiarities of the modern world is the unprecedentedly rapid development of production as well as the sphere of services, which calls for especially thorough quality control. The latter requirement, in turn, is worth mentioning among the most powerful drivers of innovation; businesses have to adopt new strategies and technologies to remain competitive. This influences not solely the well-being of a particular manufacturer, but also the population, as companies are socially accountable, in other words, responsible to their existing and potential stakeholders. In such a context, the focus on quality improvement in strategic planning continues to grow closer, which is essential for occupying strong positions in the global marketplace.

International Economic Integration

The concept of quality is possible to regard from several viewpoints, but in any definition, it plays the leading role in the companys prosperity. In the simplest terms, the goods and services that are consistent with customer expectations or exceed them are quality (Goetsch & Davis, 2020). Consumer satisfaction is the major determinant of demand, which, in turn, is the key factor of the firms survival; its stability acquires special importance in the current epoch of international economic integration.

The latter means the liberalization of trade among states by coordinating the monetary as well as fiscal policies of those. The degree of such harmonization, which is among the main measures of integration, grows with overcoming the barriers, such as excessively high import and export tariffs, investment limitations, and other (GBodowska & Pera, 2019). A textbook example of economic integration is the European Union, whose convergence has shown an upward tendency, albeit not always equally stable, since the 1990s (ibid., p. 56). Its brightest manifestation apparently is the formation of the Eurozone, as the common currency is one of the keys to overcoming trade barriers.

Monetary issues actually are among the major themes of international economic integration since their existence can complicate the circulation of goods seriously. Other essential aspects are the pattern of trade and the above coordination of international policies, without which import and export can hardly be smooth (Guo, Jong, & Yeung, 2018). The primary question, however, is what the countries will gain from trade; the response determines its purpose. Considering this, it is especially important to maintain and improve quality, so that the offer is sufficiently attractive to enable successful integration.

International Economic Organizations

The governments form unions to monitor the shared trading space. Such intergovernmental economic organizations, among which the World Bank, the International Monetary Fund (IMF), and other, assist the member states in adapting to the changes in the global economy by means of research and consultation. Non-governmental organizations exist as well; they typically perform in particular states or regions, seeking to remove the internal factors that prevent those from economic integration (Amici & Cepiku, 2020). In general, the activity of both types favors the further development of international trade, making manufacturers reach excellent quality to be competitive at the global scale.

Total Quality Management

As mentioned, the need for innovation in production continues to grow together with the degree of economic integration, which, in turn, increases the demand for quality. Therefore, new approaches to quality management appear on a constant basis; the main principle of all, however, is the same and lies in the most appropriate use of human resources (Goetsch & Davis, 2020). Notably, the primary function of the latter is communication with stakeholders, to whom firms are responsible, as the quality of the goods and services produced determine that of the consumers lives.

Considering the above nuance, the most appropriate solution is to monitor quality at each stage of production, which practice subsequently is known as total quality management. One of the pioneers in it was Juran; he introduced the idea of quality planning, which presupposes analyzing customer needs to identify the directions of the necessary improvement (Goetsch & Davis, 2020). According to him, such an approach enables identifying the critical areas that can provide 80% of the desirable result while requiring 20% of investments.

Regarding quality improvement, one of the most innovative models is that by Crosby. Within it, a company needs to develop a special quality culture, in other words, all workforce should be maximally quality-oriented (Crosbys 14 steps, n.d.). This calls for a specific corporate hierarchy, whose different levels are responsible for the supervision, planning, correcting errors, and removing their causes. Therefore, strategic planning in the company should focus on quality improvement; so-called zero defect programs should be integral to it (ibid.). This is particularly important for entering the American market since the USA has well-developed domestic manufacture, which determines quite high requirements to the quality of life (Goetsch & Davis, 2020). At the global scale, however, quality acquires even more significance, which roots in the ever-growing competition.

Conclusion

It is reasonable to state that the quality of the goods and services a certain firm produces is the key to its strong position in the global market. The international economic integration continues to remove monetary as well as legal barriers, making trade broader and easier than it has ever been. The rivalry, consequently, is unprecedented as well, in which context quality management becomes an essential point in the strategic plans of the business that target to expand abroad.

References

Amici, M., & Cepiku, D. (2020). Roles, types, and definitions of international organizations. In M. Amici & D. Cepiku (Eds.), Performance management in international organizations, pp. 7-40. Web.

Crosbys 14 steps for improvement. (n.d.). Vireton. Web.

GBodowska, A. & Pera, B. (2019). On the relationship between economic integration, business environment, and real convergence: The experience of the CEE countries. Economies, 7(2), 54-73. Web.

Goetsch, D. L., & Davis, S. (2020). Quality management for organizational excellence (9th Ed.). Pearson Education.

Guo, Yu., Jong, A. P. L., & Yeung, A. C. L. (2018). Quality management and international trade: institutionalization of quality standards and performance outcomes in China. Journal of Shipping and Trade, 3, article 7. Web.

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