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Related Experiment Videos

TQM and the financial function.

A J Schneider1

  • 1CBI Industries, Inc., Oak Brook, IL.

The Journal of Business Strategy
|August 6, 1992
PubMed
Summary
This summary is machine-generated.

Financial officers should lead efforts to enhance business processes for customer value. The financial function can actively contribute to total quality management initiatives.

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Area of Science:

  • Business Administration
  • Financial Management
  • Operations Management

Background:

  • Improving business processes is crucial for delivering value to both internal and external stakeholders.
  • The financial function's role in organizational improvement is often underestimated.

Purpose of the Study:

  • To advocate for financial officers to assume a leadership position in process improvement.
  • To outline how the financial function can contribute to total quality management (TQM).

Main Methods:

  • Conceptual analysis of the financial function's strategic potential.
  • Literature review on total quality management principles and business process enhancement.

Main Results:

  • Financial officers can lead initiatives to optimize processes.

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  • The financial function offers unique insights for value creation and quality improvement.
  • Conclusions:

    • Financial leadership is essential for driving process improvements that enhance customer value.
    • Integrating the financial function into total quality management can significantly boost organizational performance.