Competency is a term which is much related to an individual’s personal attributes and inputs. These are defined as behaviors that individuals must acquire to perform the work effectively. It covers the concept demonstrating performance outputs as well as behavioral inputs. The core competencies of an organization are its capabilities, knowledge, skills and resources. Core competencies of an organization is also known by the name of core capabilities, briefing in

Introduction Process Approach is one of the management strategy which includes method of thinking, planning the sequences and communication of processes through the set system. The process are well managed and controlled. The way of thinking and planning so developed for the processes, the way they interact thus becomes difficult for many people to understand. The organization manages their business as a system of processes but not majorly people, departments

Introduction People of the organisation being an important asset of the organisation stands as an essential principle of quality management with active involvement of people during the steps of improvement process. The involvement of people at each process level stands crucial as people’s ability and innovation would serve as a benefit for the entire organization. Staff or people employed are recognized as fuel drivers of the organization as the complete

Introduction Be it any improvement strategy, leadership plays it’s immense role in quality management. Leaders are the ones who direct the whole organisation and bring a sense of unity in purpose. Leaders are known for creating and maintaining the internal environment which enables employees to become completely involved in achieving the organization’s goals and objectives. Leaders help in inculcating quality across the organisation, as a leading force sets objectives and

Introduction Customers usually compare their experience gained in terms of quick, easy and personalized experience that they have experienced from best of the best. The customer- focused business primarily gets the chance to reap the benefit of customer loyalty and competitive advantage in comparison to other businesses surviving within the same dynamic environment. The foremost principle of Total Quality Management includes the customer focus where focus remains on the people

Introduction An organization and its immediate supplier are interdependent and developing a mutually beneficial relation between the two it and enhancing the ability on the part of both adding value. The two forces, organization and supplier are dependent on each other thus need to have a cordial or win to win relationship. Organization always looks towards adding value towards their suppliers who serve them with the raw material or products

    Fact based decision making is a process with orderly steps to be followed which lays strain on gathering the right information, strive for best quality of data, conducting unbiased analysis to extract basic insights, identifying and analysing pros and cons of the possible decisions and select that decisions which are supported by strong analysis rather than doing speculations and guesswork. All the decisions which are extracted from meaningful

Introduction The term continual improvement covers the aspect of bringing enhancement in the products, services or processes involved either through incremental or breakthrough upgrades. Bringing improvements in the product through recurring activities hikes the ability of the product to fulfil the laid down requirements. While the continual improvement can be achieved by various tools like – utilization of quality policy, quality objective, audit outcomes, data analysis, preventive actions in case

Introduction To realize the overall objective of the organisation a complete study is done with respect to the firm on the human resource and material resources and how they can be well organized. This principle has acquired its importance due to the increasing complexity among the firms and potential growth and contribution of automatic computers. This principle implies that every manager of the firm should be crisp and precise with

Financial Statement- Building Cash Flow Statement Cash flow statement is a financial statement which reflects the inflow and outflow of cash and cash equivalents from the business during an accounting period. It helps in showing detailed picture of changes in the balance sheet and income statements so incurred due to the entering and leaving a company. It shows how the company manages its cash position by using it effectively in