Total Quality Management-An Extensive Literature Review

Abstract

This paper aims at studying the concept of Total Quality Management (TQM) and its likely benefits for the automobile sector in India. For this purpose, papers published across the world over the past few decades have been reviewed. Moreover, papers published in India related to TQM Accounting in the Automobile sector have been studied to analyse the level of success achieved and how further implementation of the concept across one’s value chain can bring about plethora of benefits. The findings of this study reveal that TQM Accounting  is an essential ingredient of corporate success measured in terms of better firm’s value, satisfied customers, reduced costs and multiple benefits for other stakeholders. This paper contains six parts. The first part throws some light on the concept and need for TQM Accounting. The second part deals with the objectives of the study. The third part of the paper talks about the conceptual framework. The fourth part reviews the existing literature in the field. The fifth part highlights the scope for further research in this field of the study. Finally, the sixth part deals with the summary and conclusions of the study .