Arizona State University (ASU) ACC241 Uses of Accounting Information II Exam 2 Practice

A key principle of Total Quality Management (TQM) is the focus on continuous improvement and striving for higher performance goals across all areas of an organization. This principle emphasizes the idea that organizations should consistently seek ways to enhance operations, products, and services to meet and exceed customer expectations. By setting higher goals, organizations foster a culture of excellence, encouraging teams to innovate and adopt best practices that lead to improved overall performance and quality outcomes.

This approach is aligned with TQM’s commitment to valuing customer satisfaction, employee involvement, and process improvements, all of which contribute to sustained success. Organizations adopting TQM principles often benefit from increased efficiency, reduced waste, and enhanced competitiveness in the market, ultimately leading to better financial performance as they meet the needs of their customers more effectively.