CONCEPT OF TOTAL QUALITY MANAGEMENT (TQM) AND ACCOUNTING VALUATION

Zdravkoski, Igor and Nikolovski, Pece and Vasileski, Zoran (2023) CONCEPT OF TOTAL QUALITY MANAGEMENT (TQM) AND ACCOUNTING VALUATION. In: 2nd International Conference on Frontiers in Academic Research, December, 4-5, 2023., Konya, Turkey.

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Abstract

Quality has always been a measure of whether a product will be competitive in the market. To
achieve this, it is necessary to achieve product or service efficiency, innovation, and consumer
satisfaction. Every business entity needs to research how to increase the satisfaction of its customers.
World competition dictates a continuous increase in the quality of products and services through the
introduction of TQM - total quality management. Such a process involves organized teams for quality
control and finding new, better, and more successful ways of doing their work. The main goal of
achieving quality is that there should be a strategy with several advantages over the competition.
Consumers will be satisfied if the products have a lower price, but are of higher value. It will improve the
image of the operation of the business entity and the employees will have the opportunity to progress.
While the owners will be able to record increased income and think about future investments. Improved
quality is reflected in multiple segments of the organization, increasing reliability, productivity, profit,
etc. But it is necessary to operate a control system with a special emphasis on the quality cost control
system. The costs of quality represent costs that provide a guarantee that the products or services meet the
expectations of the users. This system is of great importance to the management because it increases and
confirms the value of the products and the reliability of the operation of the organization.
Keywords: System, Management, Quality, Control, Profit.

Item Type:	Conference or Workshop Item (Paper)
Subjects:	Scientific Fields (Frascati) > Social Sciences > Economics and Business
Divisions:	Faculty of Economics
Depositing User:	Mr Dimitar Risteski
Date Deposited:	22 Dec 2023 11:16
Last Modified:	22 Dec 2023 11:16
URI:	https://eprints.uklo.edu.mk/id/eprint/9534

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