A major element in world market competition is quality. During the 1970's and 1980's, the Japanese and their U.S. companies demonstrated that high quality is achievable at lower costs and greater customer satisfaction (Heaphy & Grusky 1995). These were consequently the results of utilizing management principles of total quality management (TQM). U.S. companies have demonstrated that such achievements are possible using TQM as a way to manage business now, in present times. Also, many international companies have come to realize that when everyone pulls in the same direction it brings improvement in management skills in all forms of business, which TQM has made become a way of life in the many business sectors throughout the world (Laszlo 1999).
In order to implement a strategy like TQM into a business requires an Upper-management change in both philosophy and behavior. Research has shown that business managers in any area, even within the realm of a mortgage brokerage company, must adopt the
objectives of customer satisfaction and continuous improvement if they are going to rise to the top of the business chain both ...Show more