Final answer:
TQM (Total Quality Management) is a management philosophy that focuses on continuous improvement and customer satisfaction. It is not outdated and can be implemented by organizations of all sizes. The impact of TQM on success can vary depending on the organization and its implementation.
Step-by-step explanation:
TQM (Total Quality Management) is a management philosophy that focuses on continuous improvement and customer satisfaction. While there may not be specific statistics regarding TQM usage and success, it is still widely practiced in various industries.
TQM is not outdated, but rather it is a concept that has evolved over time to incorporate new techniques and strategies. It is not limited to large corporations; small and medium-sized businesses also implement TQM.
The impact of TQM on success can vary depending on the organization and its implementation. When properly applied, TQM can lead to improved product quality, increased efficiency, reduced waste, and higher customer satisfaction.