CHAPTER 1: INTRODUCTION
Management activities in the business world are directed towards achieving an ample share of the industry and ultimately control of, if possible, the direction towards which the industry moves. Towards achieving this, various managerial techniques have to be put in place. The business world is highly competitive. Thus all businesses must strive towards putting in place, policies that would greatly increase sales volume while maintaining quality and the quality of service delivery.
This trend has been in existence for generations and would continue to be. It has been largely responsible for the various challenges facing captains of industry world-wide; the scramble to ensure that the various goods and services offered by them achieve the highest standard of quality and cost effectiveness. This becomes more critical in light of technological advances that have put before the customer, an array of goods of very high quality.
Every investor expects dividend from their investor, just as customers expect value for their money. Due to ever
increasing alternatives, it is pertinent for producers to ensure that qualitative and cost effective goods are produced in order to increase patronage and generate more income. These may however not be possible without a qualitative management technique; hence the adoption of Total Quality Management (TQM) becomes pertinent.
TQM became a source of unification of visions and ideas across the organization to ensure the successful execution of the mission, even though TQM at that time was a novel idea to the organization.
TQM as adopted by FIRST BANK Plccan be described as the navigational aid for the successful berthing of FIRST BANK Plcat the pinnacle of New Generation Banks in Nigeria.
For a long time now, business institutions in Nigeria have been faced with various problems, top of which are mismanagement and lack of top quality goods. These problems resulted in for instance, the failure of many banks from the late 1980s into the early 1990s. Customers lost deposits many had worked all their lives for. Other sectors, like the manufacturing sectors have also been affected by the scourge of mismanagement and disregard for quality. Many of these organizations especially those in the banking industry reorganized themselves after the problems they faced during this period. But they also had to put structures in place to ensure that what caused their initial demise did not reoccur. One of the strategies adopted was Total Quality Management (TQM). The focus was now on the customer and what to do to satisfy them, rather than the ‘bottom line’. The adoption of TQM has gone a long way towards improving management processes and service delivery and has helped restore the confidence of the populace in the banking industry.
The objective of the study is to:
First of all evaluate the impact of TQM in the Banking industry, using FIRST BANK Plc as a case study and to facilitate awareness of TQM in order to help managements of service organizations to focus on the nature and scale of quality service delivery.
Secondly to evaluate the merits of implementation of TQM and to assist management by offering advise on the desirability of the implementation of and ways of achieving the objectives of TQM.
Thirdly, to determine the contribution of employees towards the implementation of TQM and determine whether the merits justify the implementation of TQM.
And lastly make objective recommendation based on the findings of the investigation.
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