Management Essay Example | Topics and Well Written Essays - 2000 words - 1

Management - Essay ExampleTQM is a whole motion which cannot be made in vacuum. It requires precise techniques and methods such as bench marking and knowledge management along with the command system. This research paper aims at studying and identifying immanent control system within Toyota as well as interpreting the criteria for evolution and evaluating the control system and its impact on the entirety quality management. Thesis statement Internal control and total quality management should not be limited to minimizing cost, improving quality and increasing fall in on investment just should also emphasize on improving human capital. An Infrastructure for Quality Assurance Total quality function and internal control progress to side by side for organizational success. Quality assurance provides the basic infrastructure for measuring and reporting quality. Quality assurance plan begins with the policy statement by the board which recognizes the need of total quality while mi nimizing cost. It embroils designing of rigorous quality control procedures and development of quality control standards. Internal control serves as the vector of study on quality. Successful companies not only realize the importance of existence of quality assurance methods but also try to do better than the industry average. The impact of good management is usually gauged in the three dimensional framework which consist of spicy quality, low cost and steadily improved return on investment. In the wake of globalization and accelerating pace of change m whatever organizations now also include quality human capital as the fourth dimension, quality in selecting, hiring, training and evaluating promotion of human capital. Overall quality cannot be achieved without motivating and developing human capital. Motivated employees are not only willing to undertake challenging tasks but it also improves their perception of self worth. Hence the new thought of quality is not just limited to product quality but total quality in every department and process of the company. Every employee should work for the total quality management. It is a virtuous cycle which begins with product quality, cost minimization, fast time to market, business reputation, high performance work environment and in the end leads to improved job performance and personal satisfaction of the employees. Internal control measures job performance and report it to the senior management (Chorafas, 2001). Internal Control establishment Internal control is the vector of information that provides information to the senior management for ending making. Internal control plays a fundamental role in any business and should be used in integration with strategic control and management control for its maximum benefit. Internal control is based upon gathering information so it has various inputs from different departments and processes of the organizations. It receives information from customers, workers, suppl iers and information about other events and condition. This transaction of information is bilateral or two way. Internal control accordingly passes on this information to the higher management who makes plans, authorizations and takes decisions accordingly. Internal controls also provide feedback or follow up of those plans, procedures and decisions. Managements ability to fulfill their responsibility and adequate decision