A Study of Impact of Total Quality Management (TQM) in Banking Sector in Raipur City

Abstract

Liberalization and globalization of the banking sector has created an era of fierce competition, as a result of which service management and quality performance is expected to assume an increasing important role in these industries. Banks can become stronger and effective only if they come out with better customer service, quality, costs, and innovation. Furthermore, the Indian banking environment is at present engulfed in a very healthy and intense competition between public sector banks and private sector banks. In order to retain and enlarge a competitive edge in such a highly competitive market place, banks ought to offer various strategic programmes. One of the significant programmes is Total Quality Management. TQM is an integrative philosophy of management for continuously improving the quality of products and processes of an organization. This research is aimed to examine whether the TQM practices are being adopted in the banks – SBI (public sector bank) and ICICI (private sector bank), in Raipur city of Chhattisgarh state and identify the impact of TQM on the organizational performance, business excellence and service quality of the aforementioned sector. The data collection method used in this research is mixed method, meaning that both qualitative and quantitative data were collected. A survey questionnaire was distributed to bank employees (TQM survey questionnaire). The findings indicated that the proper TQM within the organization ensures better operations and functions through employee participation and training.