Pacific Savings Bank, Ltd. the Absence of Total Quality Management

Topics: Management, Quality assurance, Project management Pages: 10 (3432 words) Published: August 27, 2013
Frederick Taylor University
BA 400D: Advance Management Final Assignment
Student ID: 1754
12
Pacific Savings Bank, Ltd.
The Absence of Total Quality Management
Francis P. Remengesau

Table of Contents

I. Introduction
II. Beginning
III. What is TQM?
IV. Pacific Savings Bank, Ltd.
V. Benefits & Features
VI. Lesson
VII. Conclusion
VIII. Bibliography/Further Readings
IX. End Notes

Introduction
The term paper will address Total Quality Management within the company that I managed as a Receiver-in-Charge from February 2007 to November 2011. The focus will carry out why TQM was pivotal in this organization as well as the application of TQM in the receivership liquidation process. The company was Pacific Savings Bank, Ltd. It was one of the seven banks operating in the Republic of Palau. The basis of information formed in this term paper is from my observations, experience, and insight into the operations of this bank along with other resources and references, which I relied upon to explain and discuss TQM in a literal sense. The Details of pending court cases, such as names, relations, and criminal acts will not be explored.  Briefly, the Republic of Palau (Palau) is a one hundred seventy seven square mile island in the North Pacific Ocean with nearly twenty one thousand inhabitants. There are about two hundred fifty islands that make up Palau. It is part of the Micronesian island groups that comprise the western chain of the Caroline Islands. Beginning

The birth of Total Quality Management, as it aptly phrased to reflect the current times, has a history that begun in the late 1800s. Frederick Winslow Taylor is one of the recognized individuals who contributed significant influences to TQM today. “His Scientific Management, also called Taylor-ism, was a theory of management that analyzed and synthesized work flows with a main objective of improving economic efficiency and labor productivity.” Mr. Taylor tried to use science to the engineering of processes; thus the technical management science began its development in the manufacturing industries during 1880s and 1890s. By 1930s, scientific management had lost its appeal and had become obsolete. Its influence peaked in 1910 and by 1920s, still influential; however, a competitive era had begun with opposing and complementary ideas. Although, the theory was obsolete approximately eighty two years ago, today we can still see some of its themes in management and industrial engineering. “These include analysis; synthesis; logic; rationality; empiricism; work ethic; efficiency and elimination of waste; standardization of best practices.” What is TQM?

Defining, Total Quality Management, via World English Dictionary, we arrive at the following definition: “An approach to the management of an organization that integrates the needs of customers with a deep understanding of the  technical details, costs, and human-resource relationships of the organization”

Let’s define each word that forms TQM in order to gain further knowledge and understanding of what Total Quality Management means in its aggregate. A word that we will begin with is Quality followed by Management, and then concludes with Total. Definitions for these words vary, however, we will approach them with a scientific perspective and how it integrates in the business. As defined in Wikipedia, free encyclopedia: Quality in business, engineering and manufacturing has a sensible interpretation as the non-inferiority or superiority of something; it also defined as fitness for purpose. Quality is a perceptual,  provisional and somewhat subjective trademark and may be understood differently by different people. Consumers may focus on the specification quality of a product/service, or how it compares to competitors in the marketplace. Producers might consider the conformance quality, or degree to which the products or services correctly produced. Quality is customer...

Bibliography: BPIR. (2010, July 10). History of Quality. Retrieved July 10, 2010, from BPIR.com: www.BPIR.com
Deming, E
Hamel, G. (2010, July 13). How does Total Quality Management work? Retrieved July 13, 2010, from eHow.com: www.ehow.com
Jacowski, T
Kiser, M. S. (1991). Putting Total Quality Management to Work. San Francisco: Berrett-Koehler Publishers, Inc.
Kurtus, R. (2001, May 28). basic principles of total quality management . Retrieved July 10, 2010, from ronkurtus.com, schooofchampions.com: www.ronkurtus.com
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Nichols, C. E. (2011, November 4). The Project Gutenberg EBook of the Principles of Scientific Management, by Frederick Winslow Taylor. Salt Lake City, Utah, USA.
Organization, A. P. (1996). TQM Practices in Asia-Pacific Firms. Tokyo: World Plan Co., Tokyo.
Papa, N. (2010, July 13). Total Quality Management Tools. Retrieved July 13, 2010, from eHow Contributor: www.ehow.com; www.bpir.com
Saki, M
Walden, S. S. (1993). Four Practical Revolutions in Management. Cambridge: CRC Press.
Wikipedia, f. e. (2012, January 10). scientific management. Retrieved October 5, 2010, from wikipedia.org: http://en.wikipedia.org/wiki/Scientific_management
Wikipedia, f
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