Total quality management $($TQM$)$

Multiple Choice

involves managing company operations in a manner that costs are reduced to a minimum.

is a philosophy of managing a set of business practices that emphasizes continuous improvement in all phases of operations, $100$ percent accuracy in performing tasks, involvement and empowerment of employees at all levels, team$-$based work design, benchmarking, and total customer satisfaction.

is not relevant for smaller businesses.

is only required if a company operates in multiple countries