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Home > QFINANCE Dictionary > Definition of TQM

Definition of


General Management abbr

integrated system of business planning total quality management: an integrated and comprehensive system of planning and controlling all business functions so that products or services are produced which meet or exceed customer expectations. TQM is a philosophy of business behavior, embracing principles such as employee involvement, continuous improvement at all levels, and customer focus, as well as being a collection of related techniques, such as full documentation of activities, clear goal-setting, and performance measurement from the customer perspective, that are aimed at improving quality.

TQM - Related Articles
  • Total Quality Management and Internal Auditing

    Best Practice

    TQM becomes embedded in an organization when quality programs are created by a “total commitment” to quality in all strategies, structures, and systems. Quality gurus across the world have created exciting quality principles, motivating many organizations to adopt TQM practices. These often bring
    By Jeffrey Ridley

  • Statistical Process Control for Quality Improvement

    Best Practice

    Statistical process control (SPC) is an optimization philosophy centered on using a variety of statistical tools to enable continuous process improvement. Closely linked to the total quality management (TQM) philosophy, SPC helps firms to improve profitability by improving process and product
    By Priscilla Wisner

  • Starting a Successful Internal Audit Function to Meet Present and Future Demands

    Best Practice

    departments. Introspective self-analysis. TQM training and education of the internal auditing staff. Note how these steps have been woven into the guidance in this article for establishing a successful internal audit function to meet present and future needs for all its customers. Starting a successful
    By Jeffrey Ridley

  • W. Edwards Deming


    Deming was a statistician, academic, writer, and consultant and is widely credited with developing total quality management (TQM) techniques, facilitating the rise of Japan as a manufacturing nation and improving industrial production in the United States during the Cold War. He was originally


Definitions of ’TQM’ and meaning of ’TQM’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’TQM’ and other financial terms with our online QFINANCE Financial Dictionary.

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