BA 101 Lecture Notes - Lecture 9: Diminishing Returns, National Labor Relations Act, Collective Bargaining
30 May 2018
School
Department
Course
Professor
Business 101 – Lecture 9 – Human Resources
Total Quality Management (TQM):
• Increases quality expectations and performance through advanced production techniques
• The act of monitoring and improving the quality of products and services a company
produces
• TQM’s primary objectives are to:
o Educate and train managers and employees
o Encourage increased responsibility
o Discover production improvements
▪ These will improve the overall company performance
A ‘Student’ TQM Example:
• TQM:
o Investing to improve the process by which tasks are accomplished
• A Reading Example:
o Chris reads about 20 hours per week and retains 70% of information
o Chris invests time and money in a speed reading course
o Chris reduces reading time to 10 hours a week and improves retention by 80%
TQM Methods:
• Benchmarking
o Reduces admin and inventory carrying costs
• Quality Function Deployment Effort
o Reduces R&D cycle time
o Increases sales and promotional effectiveness
• 6 sigma / concurrent engineering
o Reduces material and labor costs
o Increases marketing effectiveness
