How Does Quality Management Help Businesses Grow?

Quality standards such as good management are essential in retaining customers as well as maintaining their loyalty.

The market image of a business is ruined once the management approach is neglected. The more the management standards are ignored, the more sales drop.

Implementing quality management systems such as ISO will play a huge role in ensuring the business’s products are of quality standards.

The systems also help in maintaining a continuous improvement in the company. A good management system should cover all processes of an organisation to ensure customers’ satisfaction as well as business growth.

What is ISO?

ISO is an abbreviation for International Organisation for Standardisation. ISO management standards help business owners run their businesses effectively.

Certifications are issued to show that the company has complied with the management standards of ISO. The certification is important since it gives an organisation credibility.

ISO 9000-series are the widely used quality management systems. Their standards are popular since a wide variety of industry sectors can implement them.

This family of standards operates under the following principles of quality management:

• • Customer focus
  • Leadership
  • People’s engagement
  • Process approach
  • Improvement
  • Decision making based on evidence
  • Relationship management

  Organisations using the ISO 9000-series enjoy various benefits regardless of their industry specifications.

Benefits of ISO 9000-series1. Increased efficiency and profits

Company’s processes are understood better and thus work more efficiently.

The internal cost is reduced, and as a result, productivity is improved. Therefore, profits are higher.

2. Products’ consistency

Every business has some competitors who are ready to take over their customers.

The ISO 9000-series quality management systems help companies to improve the quality of their products.

The standards ensure a company stands out from their competitors by enhancing the durability, reliability and the performance of their products.

3. Increased customer satisfaction

Improved products that meet customer's needs is the key to having a good customer relationship.

A company will be different from its competitors by complying with quality management standards. Complying also ensures that the customer's needs are met.

Continuously improving products will help a company maintain loyal customers and thus increase revenue.

4. Reduced risks

Risks such as recalls will ruin a brand as well as the customer relations. Even worse, recalls could lead to lawsuits or a company’s bankruptcy.

Having high-quality management systems such as the ISO 900-series will help reduce such risks.

5. Reduced human errors

Compliance with quality management standards ensures that the day to day operations of organisations follow specific guidelines.

Therefore, there will be no guesswork applied and thus minimising human errors.

Quality leads to growth

As explained above, quality management is the key to business growth. Quality processes lead to increased revenues and profits.

Customers’ satisfaction is ensured too. A business will get referrals from its customers only if they continuously meet their requirements.

Increased referrals expand the company’s market and thus growth.

Quality management ensures reduced business costs and waste which in return increases the profit margins. This is achieved through quality practices that improve the working efficiency.

In short, quality management system standards will help a business grow by doing the following:

• • Increasing the company’s operating efficiency which in return increases the productivity
  • Maintaining loyal customers and getting new ones
  • Improved processes that increase revenue

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