The concept of total quality management represents an approach aimed at providing customers with excellent quality products and services, which includes the application of modern methodologies such as business process reengineering, benchmarking and employee empowerment.
Reengineering is a radical change in the structure of business processes to achieve significant improvements in key areas of activity.
The comparative analysis method involves comparing the company's operating methods and services with the practices of other departments and organizations to identify changes that can lead to improved product quality.
Empowerment of employees is the chinese overseas british data package transfer of decision-making power over certain operations or the use of necessary resources, subject to four basic conditions: active participation of employees, innovation, access to information, and perceived responsibility.
For example, according to Akio Morita, the Sony team has always adhered to the philosophy of high quality. This has become the determining factor in the company's success.
The main goal for companies is to provide the highest quality products and provide decent customer service.
For many organizations, improving the quality of goods and services is becoming a key means of increasing sales and increasing profits.
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What business model will be trending in 2024
Based on the opinions of analysts, the following development options can be assumed:
Offline or online
Just recently, many people said that offline channels would become irrelevant. This really happened during the pandemic, when many shopping centers closed or lost profits. But even today, new offline spaces are emerging. For example, there is a trend towards creating tactile places where you can touch interesting materials, feel different surfaces. This promotes relaxation and allows you to look at the world around you in a new way.
Today, a hybrid business model is successfully operating, which uses online tools in an offline environment and vice versa. For example, virtual spaces, artificial intelligence and the possibilities of the metaverse.
Dividend model
Previously, the exit model was dominant: companies sought active growth in the first 3-4 years, attracting a lot of users with the aim of subsequent sale. The success of this strategy was low, but those who achieved good results grew very quickly, which attracted venture investors. However, the latter have become more cautious today due to instability in the world.
Projects that promise investors huge profits in 6-10 years no longer attract large players. They are being replaced by models that start generating income today or in the next two to three years. The dividend model becomes a priority. In this case, the company develops gradually and confidently, which indicates imminent profit.
Subscription model
Today, the subscription model allows you to get movies, groceries, clothes, and even rent a house or a car. In fact, you can have a minimum of things and get the rest through a subscription system. However, there are currently some obstacles to the development of this model. To successfully implement it, you need to have many subscribers, which can take many years to attract and require significant marketing investments.
Nowadays, entrepreneurs don’t want to wait for their budgets to pay off. The number of B2B and B2C subscriptions has grown so much that users are simply tired of them. That’s why new versions of “old models” of partnership are returning. For example, streaming is replacing the traditional subscription with free TV with advertising. Among new startups, there are offers to rent an apartment for free in exchange for the opportunity to temporarily accommodate other people. The B2B sphere is actively mastering the Product Led G