Edlund Lazarus, managing partner at EMK Capital in London, talks about TQM and its importance.

1. What Total Quality
Management
(TQM) Is All About
EDMUND LAZARUS | EDMUNDLAZARUS.COM

2. TQM Origions
Total quality management was developed by
an American statistician and management
consultant named William Deming. The idea
behind TQM was that there should be a focus
of product and service improvement
throughout the organization on all levels. Before
TQM, improvements were centered around just
improving a product or process and not
utilizing an organization-wide approach.

3. Pillars of TQM
The customer should be at the center of the quality
improvement process.
Employees need to be involved at all levels of
service and production towards achieving the
company goal.
Process-centered approach that aims to reduce
uncertainty in areas such as supply chains.
TQM has about eight different elements.

4. Pillars of TQM
(Continued)
Long-term and strategic plans are used to lay out a
roadmap for the long-term vision of a firm.
Continual improvements.
Fact-based decision making.
An emphasis on communications.

5. TQM Application
Total quality management was originally designed to
be used by manufacturing companies. Its principles
can be used by many other industries, however. TQM is
now used by banking, finance and healthcare
companies.

6. Conclusion
The key point behind total quality management is that it
aims to unify every person and process within a
company to achieve a desired goal or objective. This is
combined with the idea of continual improvement and
customer satisfaction. The result is a highly effective
organizational-wide approach to improving productivity
and service quality.

7. About
Edmund Lazarus
Edmund Lazarus is a driven and experienced
professional in the private equity industry. He is
Managing Partner of EMK Capital an
international private equity investment firm
based in London.