Question: Question 1 (15 marks) Total Quality Management (TQM) is founded on the premise that an organisation must continuously strive to improve the quality of

Question 1 (15 marks) Total Quality Management (TQM) is founded on the

Question 1 (15 marks) Total Quality Management (TQM) is founded on the premise that an organisation must continuously strive to improve the quality of its product. Using examples, discuss the different categories of the cost of quality within a typical manufacturing entity. Question 2 (15 marks) The objective of a firm's working capital policy is to determine the optimal level of investment in each component of working capital and the appropriate source of financing thereto. Using graphs, elaborate on the three main policies that firms use to finance their working capital.

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