IMPACT OF TOTAL QUALITY MANAGEMENT ON THE PERFORMANCE OF THE BANKING INDUSTRY OF NIGERIA
Abstract
It is hardly news any longer that the service industry the world over is coming to terms with the fact that THE CUSTOMER IS KING, and the customers’ satisfaction now forms part of the aims and objectives of any business in order to survive. In the light of the above, this research work seeks to show the impact of the implementation of Total Quality Management (TQM) on the performance of the banking industry using First Bank Plc, and its impact on customer satisfaction and profitability. The primary and secondary sources of data collection were adopted in the research methodology. One hypothesis was raised and tested, using simple percentages and the Chi Square method. Findings: this research work is to study The Impact of Total Quality Management in the Banking Industry, taking First Bank as a case study. Findings show that its implementation has enabled the bank improve its performance in many service areas. From the questionnaires distributed and answered, a large percentage of respondents (employees) agree that the implementation of TQM has improved the quality of their service delivery. A large percentage of customers attest to an improvement in the bank’s satisfaction of their needs.