Final answer:
The definition provided describes Deming's management philosophy, which is a holistic approach to management that stresses continuous improvement and integrates quality into a strategic framework, contrasting with other management styles.
Step-by-step explanation:
The definition described refers to Deming's management philosophy, which focuses on a holistic approach to management that emphasizes continuous improvement in customer satisfaction while reducing costs. It integrates quality principles into a strategic framework. Dr. W. Edwards Deming is known for his 14 points for management, which advocate for a transformation of management style and the improvement of quality for the benefit of the organization.
This approach contrasts with others, such as the 360-degree feedback system, which gathers multiple perspectives on an employee's performance, and strengths-based management, which prioritizes individual talents over weaknesses. Another alternative is the Theory Y approach, which predicates on the idea that employees are motivated by inner satisfaction and fulfillment, leading to a participative and consultative management style.