Abstract

An effectively developed and deployed quality management system (QMS) should bring out the strength of business processes, help identify opportunities to address gaps, and reinforce critical success factors so organizations can realize the results that demonstrate the financial and economic benefits of a QMS. The approach outlined in ISO/FDIS 10014 enables quality professionals to explain to top management with confidence that their improvement initiatives will increase net income by $X million, increase earnings per share, unlock cash and increase free cash flow by $Y million for dividends and reinvestment.