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Operation Management and Quality Management - Essay Example
Quality management is a critical research area in present day corporate discourse. Quality management. The topic has developed into an integral facet of business culture, on par with financial reports, as its sustainable competitive benefits are well recognized…
However, quality management remains an under-researched concept in strategic resource management (Powell, 1995). The standards provided by the ISO 9000 (ISO) were developed from the ISO/TC document, and quality management criteria is now used in corporations across the globe which have been taken up by over 880, 000 corporations in over 161 nations (International Organization for Standardization, 2006). As such, the ISO is a generic management system benchmark for quality management expectations in business due to; its customer-centered approach to their needs and requirements; its regulatory requirements; its orientation toward customer satisfaction; and commitment to continual improvement achieving these goals (International Organization for Standardization).
An individually owned corporation that has successfully implemented the ISO standards is FEXCO in County Kerry, Ireland, is an internationally recognized competitive company (FEXCO, 2006a). The corporation provides world wide payment services for both corporate and public markets, for activities such as financial transfers, bureau de change and currency conversion. On average, FEXCO processes 19 million transactions annually. ...