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The quality management principles and their influence on the financial performance of industrial enterprises


Anna Shibanova, Tatiana Panchenko
(about the authors)

Shibanova Anna A. – Postgraduate of the Chair of Economy and Management of socio-economic systems (Moscow State University of Food Production)

Panchenko Tatiana M. – Candidate of Science, Economics, Associate professor of the Chair of Economy and Management of socio-economic systems (Moscow State University of Food Production)

Published in:
Russian Journal of Entrepreneurship
– Volume 16, Number 5 (March, 2015)



Keywords: financial indicators, measures, profit, quality management principles


Citation:
Anna Shibanova, Tatiana Panchenko (2015). The quality management principles and their influence on the financial performance of industrial enterprises. Russian Journal of Entrepreneurship, 16(5), 743-754. doi: 10.18334/rp.16.5.139


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Abstract:

The article dwells on the essence of the main quality management principles. The authors appraise their impact on the key financial indicators of an enterprise’s performance and give examples of measures for the implementation of these principles in practice. Based on the conducted research, the authors have divided the principles into groups in accordance with their most significant features, which are the following: 1) the expenses necessary for their implementation 2) the application object 3) the nature of their influence on the key financial indicators of an enterprise’s performance.








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