Five Effects of Deming Prize
1. New product development and launch will be promoted
TQM starts from a market. What expectations do customers have and what value should be added to the existing products? By knowing the needs and seeds, a company's development capability will be significantly increased.
2. New technology can be obtained
Facing technical difficulties is part of new product development. A company can distinguish itself from competitors and be highly advantageous by developing and obtaining a new technology.
3. Sales target will be achieved continuously
With the enhanced new product development capability, a company will have a definitive idea of what products to be launched in the future and a long-term sales plan will become achievable.
4. Become capable of following a policy and fulfilling an objective
In order to realize managerial objectives, each functions such as sales management, quality assurance, cost management, production management, and delivery date management will need to set its goal. Setting goals, sharing them across the organization and establishing measures to achieve the goals will make a company operate efficiently.
5. Organization's functionality will be enhanced
As a result of developing new products and new technologies, a structure to develop them will be fortified and enriched. Excellent structures and management systems will be produced while ensuring new product development, quality assurance, cost management, production management, delivery date management, sales management, safety management, environmental management, education and training and informatization. Such systems will become part of a company in the process of the Deming Prize examination.
Regardless of a company's size or industry, whether it is old or new, Deming Prize helps any type of organization achieve above mentioned outcomes.