Three possible goals for a business are to (1) maximize profits, (2) maximize shareholder wealth, and (3) satisfy customer wants and needs. If goal (1) or (2) is chosen, the primary measurements of "success" are organizational profitability or stock price.
a. Do you believe that one of these three goals can be chosen to the exclusion of the others? Discuss the rationale for your answer.
b. How can total quality management help an organization meet all of these goals?
c. How might the selection of goal (1) or (2) lead to quality problems in an organization? Would the selection of goal (3) be likely to lead to quality problems? Explain.