Quality Management – an Economic Perspective

Abstract

The present paper is to basically investigate the effect of Quality Management practices and strategies that organizations follow to give quality products to its customer, on organizational performance in terms of surviving in the competitive market and earning a reasonable profit. Quality Management is a strategy and philosophy essentially aims to put in practice and to deliver high quality products and services that just does not meet the customer expectations and satisfaction, but also results in customer delight. The present paper discusses the effects of providing quality products to the customer and whether maintaining quality product is an economic issue.