Organisational Evolution and Globalization
Dow Jones looks at sustainability as a business's approach to the problem of creating long term shareholder value through embracing opportunities and managing risks the stem from the economy, the environment, and social developments. This approach has given rise to the concept of "corporate governance" as a primary function of management. (Dow Jones Indexes, 2011) Governance goes beyond conventional management based on profitability to include the impact on and well being of not only shareholders and employees, but consumers, the communities in which the company operates and clients and consumers. It can be construed so broadly that it encompasses the entire society in which the company operates.
Total Quality Management is an early approach to scientific management that is based on customer driven quality and the commitment of top management and everyone working for the company to continuously improve products, service and problem responses through employee participation and a corporate commitment to the TQM culture. The primary focus is on customer satisfaction with every element of dealing with the company.[1] In the modern Global society this presents new challenges as borders are crossed and cultures intermingled. TQM laid many of the foundations for the solutions to such geographic and cultural problems. The three learning related factors presented by Nevis, Ghoreishi & Gould encompass many of the elements of TQM.
1. Well-developed core competencies that serve as launch points for new products and services.
2. An attitude that supports continuous improvement in the business's value-added chain
3. The ability to fundamentally renew or revitalize (Nevis, Ghor
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