Abstract:
The need for organization to improve in the face of increasing completion and challenges has necessitated the clamour for the creation of quality culture. Though, it is observed that quality is far from being a novel idea as such the consistency on quality in particularly important in the banking industries. In the last decade there has been phenomenal development in Information Technology which also sharpens competition. Due to this there have been changes in management style, banks have become more commercially oriented, .new emphasis placed on quality new visual and redesigning of services. With the introduction of Total Quality Management (TQM) in the banking industry there has been an inference of linkage between Total Quality Management (TQM) and corporate performances in particular in the financial sector. The study seeks to determine the impact of Total Quality Management on corporate performance, particularly in the financial sector. How widely the practice of TQM is being carried out in the financial sector and which approaches are being adopted. Finally to determine the responsibility of TQM, how it is measured and main difficulties faced in the implementation of TQM in the financial service sector. In order to ensure a complete coverage, three banks that practice of TQM in the past six years would be used as reference point. The banks are: 1) Merchant Bank Corporation (MBC) 2) Continental Trust Bank 3) Chartered Bank. This study was carried out combining Desk research, compilation of financial results of the various organizations. At the end of the study, the implication will concern the Board of Directors and Top level management as they should be interested in promoting tenets of TQM so as to enhance the key performance area of their banks. Failure on their part to enhance this, where other banks are reaping from the successful implementation of TQM, such bank will be losing credibility due to none performance.
