The Relationship Between Total Quality Management and the Financial Performance: A Case Study of Zenith and Fidelity Bank in Nigeria.

Abstract

Total Quality Management is seen to be an application whose purpose is to improve the process, product and services of an organization. The objective of this study is to determine the relationship between total quality management and the financial performance of Zenith and Fidelity bank in Nigeria and the influence of TQM practices on customers satisfaction. The research sample size was 100 individuals. Data was collected by standard questionnaires distributed to employees and managers of the mentioned banks. The analysis of the survey data was done with the help of SPSS. The results from the analysis have been in suggestive of the fact that financial performance is strongly related with the TQM measures. Moreover, it has been proven through the assistance of statistical analysis that the goal of TQM within the prospect of banking is inclined towards the orientation of significant customer services and satisfaction. Moreover, involvement of both management as well as the subordinates would be required to be amplified at all levels for the future growth and sustainability. Innovation and creativity in association with strong cultural facets would act as the universal solutions for the concerned banks to ascertain significant financial performance. Therefore, strong focus of customer satisfaction, people management, areas of future improvement and strategic goals in retrospective to the changing demand would be feasible for the Zenith and Fidelity banks to combat the pressure in the banking industry of Nigeria. However, time shortage has been responsible towards inadequate discussion and exploration in the core areas of the research subject.