Total Quality Management (TQM) as an Approach of Management Practices to Achieve Value based Sustainability
Total Quality Management (TQM) is a culture/philosophy advocating total commitment as integrated organizational approach to ensure the highest level of customer satisfaction in a product or service through continuous improvement and innovation in all respect of business. Its prime and ultimate objective is to delighting the customers both internal and externals and to achieve value based sustainability goals as an approach of management practice. Profitability is still the priority of most organizations and to increase financial benefits, many organizations sacrificed the social, political, legal and environmental aspects for development of humankind. World is discussing value base sustainility as emerging issues and challenges at each and every aspect of businesses. UNO has given the platform as High-level Political Forum to discuss and provide political leadership, guidance and recommendations for the value based sustainable development. It follows up and reviews the implementation of sustainable development commitments and the 2030 Agenda for Sustainable Development. It addresses new and emerging challenges; promotes the science-policy interface and enhances the integration of economic, social and environmental dimensions of sustainable development.
This research paper is based on theoretical assumptions and it investigates the relationship between TQM as an approach of management practices and sustainability performance of the organizations. This article is an attempt to integrate TQM approach management practices for delivering superior and high value customer satisfaction to achieve the ultimate goal as value based sustainability. The concept of sustainability is taken as the perspective of the triple bottom line which consists of three elements- the social equity bottom line (people), the environmental bottom line (planet), and the economic bottom line (profit). These three aspects of the triple bottom line must be harmonized, integrated and balanced effectively.
Keywords - Environmental Degradation, Harmonized, Performance, Stakeholder group, Value Based Sustainability, TQM, Triple-Bottom line.