Summarize Research on Quality Management Cole and Jones (2015)

Quality Management: Summary
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Quality Management: Summary
Introduction
Quality management (QM) is considered as one of the essential requirements for businesses to experience optimal growth in the 21st century (Kwan, Lee & Shin, 2014). According to Aquilani et al. (2017), the current business landscape calls for organizations to implement quality management practices in order to attain overall upgrades through cycle time reductions and growth in their corporate operations based on the crucial role it plays in fostering the advancement of improved relations among employees, increasing productivity, recuperating customer satisfaction, market shares and overall levels of profitability. According to Zeng, Phan and Matsui (2015), QM progresses in an institutional environment that inculcates corporate attention on ensuring that the underlying customer needs are met, inculcating effective management practices to lead the way, empowering the workforce towards embracing continuous process improvements, an organizational culture that reveals higher degrees of responsiveness, implementing fact based decision making procedures, and building ample relationships with key institutional stakeholders such as suppliers.
Cole and Jones (2015) consider the efficacy of the forecasts of any firm as a key aspect of QM that needs to reveal lack of bias, efficiency, association with the organizational heights attained; ability to deliver useful data while making use of the information availed. In their perspectives, the scholars explain that the efficacy of the statistical information, degrees of biasness and efficiency of the forecasts adopted by a business play a crucial role in demystifying the presence of systematic errors in the projections adopted by the decision making agencies of a firm. On the other hand, Paraschivescu (2013) explains that the quality management initiatives adopted by a company must adhere to the set social, economic political, legal, cultural and educational dynamics. In particular, Kwan, Lee and Shin (2014) demystify that the current trends of QM are aimed at extending the properties of responsibility and accountability in business settings from the conventionally accepted points of focus to a more inclusive framework that puts into consideration both the needs of the business and those of the society. On the other hand, Otto, Hüner and Österle (2012) emphasize on the use of statistical and institutional data that reveals higher levels of accuracy, completeness and up-to-datedness. While quality management is an important function of profitability in business settings, the sufficiency and accuracy of the data adopted to undertake process forecasts are of great significance in driving business ventures towards attainment of their operational goals.
The effectiveness of the QM strategy adopted by a firm greatly depends on its ability to foster customer focus. According to Kwan, Lee and Shin (2014), the success of any business greatly relies on its ability to satisfy its clients’ needs. Otto, Hüner and Österle (2012) explain that firms can only institute proper stratagems off meeting the requirements of their consumer segments by having a clear understanding of the prevai...