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What Is Total Quality Management (TQM)? List the 10 Steps

question 45

Essay

What is total quality management (TQM)? List the 10 steps necessary to implement a successful TQM program.


Definitions:

Cooperative Games

Games in which participants work together to achieve a common goal or derive mutual benefits.

Stackelberg

A model of a market in which one leader firm sets its output first, and then other firms follow, adjusting their outputs accordingly, in strategic game theory.

Cournot Model

A model in oligopoly theory where firms compete on the quantity of output they decide independently and simultaneously.

Monopolistic Competition

A market structure characterized by many firms selling products that are similar but not identical, allowing for competition on factors other than just price, such as quality and marketing.

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