Author: Suzzy Krist Addo
Abstract
The study assessed the factors that support effective implementation of total quality management principles at HFC. A combination of primary and secondary data was applied in this research. Primary data was collected from 73 employees of five purposely chosen HFC bank branches in Accra. Secondary data was collected from the bank’s annual reports, academic journals and previous relevant published studies. Data analysis techniques such as descriptive statistics and regression analysis were conducted on the collected data. The statistical package for social scientists software was applied for the analysis.
The findings revealed that HFC bank has followed six key quality strategies to improve its operational performance. These strategies are continuous improvement, benchmarking practices, business process re-engineering, ISO series, lean practices and six sigma practices. Out of these approaches, continuous improvement, business process re-engineering and ISO series respectively contributed tremendously to improved operational performance at HFC bank.
The study has also demonstrated that the six strategies have ended up in contributing to operational performance to a very great extent as pointed out by 87% of the respondents. These results were further corroborated by the regression coefficient results which established a positive significant association between the individual TQM strategies and operational performance. Factors such as top management commitment, customer focus, continuous improvement, employee involvement and employee empowerment were observed as major contributors to effective implementation of TQM practices in firms.
