The TQM model looks to reduce all known and unknown failure costs.

Question

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TQM (Total Quality Management) is a management approach that aims to optimize the quality of goods and services, while also minimizing the failure costs associated with poor quality. TQM seeks to improve efficiency and productivity by involving all employees in the process of continuous improvement, and by using data and analysis to identify and correct problems. By reducing all known and unknown failure costs, TQM can help organizations to enhance customer satisfaction, increase profitability, and maintain a competitive advantage.

The TQM Model Looks to Reduce All Known and Unknown