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HBOK 1-199

Title Raising the Bar
Author(s) A.V. Feigenbaum
Source Quality Progress
Topic Performance Improvement
Abstract Companies seeking to expand their global reach face a dual challenge created by the rising cost of development and the need to keep prices down in a demanding global market. Good leaders meet this challenge by measuring the benefits of quality as opposed to the cost of business failure so that these costs can be managed systematically. Total quality management (TQM) provides a systematic foundation by allowing companies to manage costs and turn them into a competitive advantage. The management and measurement of the economics of quality set companies apart in terms of market strength and leadership.
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