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Illustrate the Total Quality Management briefly.
Total Quality Management (TQM) is a system approach to quality within all spheres of the organisation. TQM implies meeting the requirement of internal or external customers consistently through continuous enhancement in the quality of work of all workers. Total in Quality Management is stands for an on the whole integrated approach to each and every aspects of quality, all domains of system comprising organisation, resources, people, time, hardware or software and even management committees. Total in Quality Management is a management concept of organisation, centered onto quality, based upon participation of each and every its members and aiming at long term success via customer delight and benefits to the members of the organisation and society. Total in Quality Management sustains upon four pillars namely systems, top Management commitment, such Team work and Statistical Process control (SPC) elements.
What is Breakeven Analysis? Breakeven Analysis: It implies that at several point in the operations, total revenue equivalents total cost. This analysis is concerned along
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