Effect of TQM Practices on Financial Performance through Innovation Performance - In Indian Manufacturing Context

International Research Journal of Engineering and Technology (IRJET) e-ISSN: 2395-0056
Volume: 04 Issue: 07 | July -2017 www.irjet.net p-ISSN: 2395-0072
© 2017, IRJET | Impact Factor value: 5.181 | ISO 9001:2008 Certified Journal | Page 2649
Effect of TQM Practices on Financial Performance through Innovation
Performance - In Indian Manufacturing Context
Farish K A1, Anu P Anil 2, Dr. Satish K P3
1 M.Tech Student, Dept. of Production Engineering, GEC Trichur, Thrissur, Kerala, India
2 PhD Research scholar Dept. of Mechanical Engineering, GEC Trichur, Thrissur, Kerala, India
3 Professor, Dept. of Production Engineering, GEC Trichur, Thrissur, Kerala, India
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Abstract - Total quality management (TQM) is a
management approach of an organization, centered on
quality, based on the participation of all its members and
aiming at long term successthroughcustomer satisfactionand
benefits to all members in the organizationandtosociety. This
study examines the direct and indirecteffectsofTQMpractices
on financial and innovation performance by using structural
equation modelling (SEM). Previous literatures described
different results of the relationship between TQM practices
and these two performance measures. Thus, the scope of this
study is to investigate the relationship between the TQM
practices and organization performance more precisely,
Indian manufacturing context. The data was collected from a
survey of 260 Indian manufacturing organizations using a
self-structured detailedquestionnaire. BasedonreviewofTQM
literatures, 13 TQM constructs were identifiedandselectedfor
this study. From results of the survey, the data was analyzed
and hypotheses were tested using SEM. Overall, findingsofthis
study highlight that, TQM practices has a direct and
significant effect on both financial performance and
innovation performance. The results also shows that, there is
an indirect and significant effect of TQM practicesonfinancial
performance through innovation performance. Thestudyalso
revealed that supplier quality management, continuous
improvement, quality information analysis, quality assurance
and knowledge management were perceived as the most
dominant TQM practices associated with both financial and
innovation performance.
Key Words: Total quality management practices,
Financial performance, Innovation performance,
Structural equation modelling, Supplier quality
management, Quality assurance.
1. INTRODUCTION
Total Quality Management (TQM) is a system of managing
quality in organizations in order to improve products and
services. Crosby (1979) stated “QM is a logical way of
ensuring that organized activities happen the way they are
planned.”. It provides lasting solutions to the organizations
plagued with problems of defects, high costs on account of
rework and waste, and delayed delivery of products and
services etc. All successful organizations adopt TQM in one
form or other. It has helped people, organizations and
nations to alter their destiny and attain superiority,
prosperity, and international performance. In recent years,
with the emergence of globalization, market competition,
and the improvement in communication flows, total quality
management (TQM) has become a crucial strategy for
companies to maintain their market position Santos Vijande
et al. (2007). At the same time, innovation has been widely
used as a winning order criterion for companies to gain
sustained competition and financial benefits.This study
attempts to understand the effect of TQM practices on firm
performance (financial performance (FP) and innovation
performance (IP)), asking whether TQM practices foster or
hinder the FP and IP. Even though there has been significant
research into this area, the conclusions are still argued. For
example, research scholarssuchasPrajogoandSohal (2001)
have debated that, organizations that implementing TQM
practices will promote a rich situation forinnovation,enable
knowledge sharing, and introduce positive organizational
change. Hence TQM practices are viewed as a driver for
organizational innovation. ButSlaterandNarver(1994), and
some others debate that total quality management practices
obstruct creativity, as they involve the implementation of
standards, which can grow into a “stickiness” regarding
repeated or established procedures or processes; it is thus
supposed that employees will be less likely to explore new
way of changing. Some authors found that effectively
implementation of TQM improved financial performance
(Barker and Cagwin, 2000; Hendricks and Singhal, 2001b;
York and Miree, 2004). However, some companies did not
gain from TQM implementation.Forexample,Chapmanet al.
(1997), Yeung and Chan (1998) found from casestudiesthat
manufacturing companies with a quality management
system in Hong Kong did not gain any financial benefits.
Hence, its claims are debatable. From there, this study aims
to investigate the direct and indirect effect of TQM practices
on financial and innovation performance in the Indian

manufacturing context, with theobjectiveof bridgingthe gap
and clearing up confusions.
2. LITERATURE REVIEW
2.1 Critical factors of TQM
Various studies have examined that; constitutesof quality
management, common barriers to quality management
implementation and factors are critical forthesuccessofQM
(Ahire et al., 1996; Flynn et al., 1994; Rao et al., 1999;Saraph
et al., 1989; Sila, 2007; Yusof & Aspinwall, 2000). Although
these studies have provided different results such as critical
factors, they have identified a common set of practices
considered essential to the success of quality management
implementation. To generate distinct generic constructs, a
list of constructs proposed in a large set of literature was
analysed. The critical factors identified in the previous TQM
literature are given below.
• Leadership and top management
Commitment
• Supplier performance
• Customer focus
• Supplier quality management
• Continuous improvement
• Team work
• Communication
• Quality improvement systems
• Employees involvement
• Employees empowerment
• Rewards and recognition
• Education and training
• Strategic quality planning
• Strategic management
• Quality information and analysis
• Quality assurance
• SPC usage
• Quality citizenship
• Quality culture
• Benchmarking
• Role of quality department
• Quality policy
• Process and product design
• Quality management environment
• Operational quality planning
• Quality information availability
• Process management
• Product quality and innovation
• Quality information usage
• Knowledge management
Through the thorough review of the TQM literatures, the
present study identified a set of 13 TQM practices by
frequency of occurrence method and it is shown in Table 1.
These 13 factors selected for this study.
Table -1: Critical TQM factors identified for the present
study
Sl No Critical factors selected for the present study
1 Leadership and top management commitment
(LTMC)
2 Customer focus (CF)
3 Supplier quality management (SQM)
4 Continuous improvement (CI)
5 Employees empowerment (EE)
6 Education and training (ET)
7 Quality information analysis (QIA)
8 Quality assurance (QA)
9 Quality citizenship (QCZ)
10 Quality culture (QC)
11 Process management (PM)
12 Product innovation (PI)
13 Knowledge management (KM)
2.2 Performance measure indicators
Having suggested a set of TQM practices, this section
presents anoverviewofperformancemeasures constructs.A
review of previous empirical studies on organizational
performance indicatesthattherearevariationsin measuring
performance of organizations (Monge et al., 2006).Different
variables used for measuring organizational performance
have been identified from the literatures. Prajogo and Sohal
(2004) measured organizational performance with the help
of quality performance (e.g. reliability, performance,
durability and conformance to specification)andinnovation
performance (e.g. product and process innovation). Zakuan
et al. (2010) in their study measured organizational
performance over two categories which are; satisfaction
level (example employee satisfaction and customer
satisfaction) and business results (example productivity,
number of successful new products, cost performance and
profitability). Numerous studies have been carried out to
determine the positive and negative (or non-significant)
relationships or correlations between TQM practices and
various performance measures. Considering the
comprehensive study and the availability of data in this
study, organization performance will be measured through
financial performance(FP)andinnovationperformance(IP).

3. RESEARCH FRAME WORK AND PROPOSED
HYPOTHESES
A review of the previous empirical studies on TQM practices
suggests that researchers have defined TQM practices
construct in various ways although they are complementary
to each other. In this study, we decided to use one of these
models or framework forthe TQMpracticesconstruct. Based
on the analysis of previous research, a conceptual research
framework is developed and a research model has been
proposed to examine the direct and indirect effect of TQM
practices on company’s performance by measuring the
financial and innovation performance as a performance
indicators in the Indian manufacturing companies. The
proposed TQM conceptual research frameworks are shown
in Figure 1. This research models suggests that the greater
the extent to which these TQM practices are present, the
financial performance andinnovationperformanceofIndian
manufacturing organizations will be higher. In this
framework, the independent variables are TQM practices
and a dependent variables are financial and innovation
performance. The two research questions of this study can
be articulated as follows:
 Do the identified TQM practices have direct andindirect
effect on company’s financial and innovation
performance?
 Which TQM practices are more associated with the
company’s financial and innovation performance?
Therefore aim of this study is to find out the direct and
indirect effect of TQM practices on financial and innovation
performance inIndianmanufacturingcompaniesandfinding
out which TQM practices are more associated with the
company’s financial and innovation performance. Hence, in
guiding the direction of the analysis, three research
hypotheses were developed and will be tested in this
research. They were based on the findings identified in the
literature review.
H1: TQM practices have direct and positive effects on
financial performance of Indian manufacturing
organizations.
H2: TQM practices have direct and positive effects on
innovation performance of Indian manufacturing
organizations.
H3: TQM practices have indirect and positive effects on
financial performance through innovation performance of
Indian manufacturing organizations.
Figure -1: Conceptual research framework
4. RESEARCH METHODOLOGY
In order to accomplish the objective of this research study, a
questionnaire survey methodology was adopted and was
carried out in selected Indian manufacturing organizations.
4.1 Survey instrument
Based on previous literatures (Salaheldin (2009),
Bayraktar et al. (2008), Saravanan R and Rao, K.S.P. (2007),
Sila and Ebrahimpour (2002), Antony et al. (2002) and Brah
et al. (2000)) a self-structured detailed questionnaire was
developed with the items for 13 TQM constructs along with
the questions on performance measure and information
about the respondents. Which includes questions that are
capable of extracting maximum available data from the
industries. The level of implementation is marked in a seven
point likert scale, 1(Strongly disagree), 2 (Disagree), 3
(Somewhat disagree), 4 (Neutral), 5 (Somewhat agree), 6
(Agree), 7 (Strongly agree).
4.2 Data collection
The study employed the survey method, which makes use
of a research instrument. The study was conducted in small,
medium and large scale manufacturing organizations in
India. The questionnaire is sent to theorganizationsthrough
electronic mail and direct contact approach. Before
conducting the full survey, initially a pilot study was
conducted using this questionnaire and 34 responses were
obtained out of 46 organizations.Theseresponseswereused
to check the reliability of the questionnaire. After the pilot
study the survey is extended to around 700 organizations.
Addressed to the top and middle level
administrators/managers of the companies, the survey
instruments were e-mailed and directly given to 680 Indian
manufacturing companies (large, medium, small). After
several follow-ups and personal contacts, a total of 260
companies responded which are approximately 38.24
percent of the sample size, were selected for the study. A
response rate of 38.24 percent which is well and lies within
the range of 85-300 cases as suggested by Kureshi et al.
(2010) and Hair et al. (1998). Thesedata obtainedvia survey
was tabulated using Microsoft Excel. Then the data were

analyzed using IBMSPSS(20.0)statisticssoftwareandAMOS
(20.0) software.
4.3 Data analysis and hypotheses test results
4.3.1 Reliability analysis
Reliability is the ability of the instrument to measure
consistently. Reliability coefficients were initially computed
to check the internal consistency of the measuring items of
the independent and dependent variables. As the internal
consistency method is the most common form of reliability
estimation (Nunnally, 1978) and it has been used in this
study. This method assesses the equivalence, homogeneity
and inter correlation of the items used in a measure. IBM
SPSS Statistics software (version 20.0) is used for the
evaluation of collected data. Reliabilitytestswereperformed
separately for the items of each TQM practice (13
independent variables) and two dependent variables
(financial performance and innovation performance). The
Cronbach's alpha (α) values of the study variables are
summarized in Table 2 and Table 3. One item from process
management was deleted, so that it became reliable.
Nunnally (1978) is often related with the assertion that
instruments used in the basic research should have
reliability of 0.7 or better.
Table -2: Reliability analysis of TQM practices
Sl
No
TQM Practices
No of
items
Cronbach's alpha
(α)
1 LTMC 5 0.725
2 CF 4 0.811
3 SQM 5 0.922
4 CI 5 0.792
5 EE 4 0.853
6 ET 4 0.837
7 QIA 4 0.760
8 QA 5 0.900
9 QCZ 5 0.736
10 QC 5 0.765
11 PM 4 0.785
12 PI 5 0.772
13 KM 3 0.898
Table -3: Reliability analysis of financial and innovation
performances
Here final reliability analysis result shows that all the
constructs have α > 0.7 (ranges from 0.725 to 0.922). So we
can conclude that the data collection instrument i.e., the
questionnaire developed were reliable.
4.3.2 Validity analysis
Validity is referred to how well our concept is defined by
the measures. The concept of validity was formulated by
Kelly (1927, p. 14) and who stated that a test is valid means
if it measures what it claims to measure. The general
purpose of checking validity is to find a way of minimizing
the loss of information and summarizing these information
into smaller sizes. There are mainly two types validity ;
content validity and construct validity. Content validity is a
subjective evaluation, which was considered suitable
because these critical factors and results in the evaluation of
quality management have been obtained from a literature
review expert opinions. The main objective of the content
validity is to ensure that the previous empirical issue must
be extend by the selection of construct items, it also include
theoretical and practical considerations (Robinson et al.,
1991). In this study the 13 critical factors for measuring
TQM implementation should have content validity, as the
measurement items were developed based on both an
comprehensive review of the literature and detailed
evaluations by academicians and practicing managers.
Although construct validity means the degree to which a
measure or other test assesses the fundamental theoretical
construct it is supposed to measure. Theconstructvalidityof
each measure was evaluated through a factor analysis.
4.3.3 Factor analysis
Factor analysis is used for checking the validity of
collected data. It is is a statistical approach that can be used
to analyze the interrelationships among large number of
variables and explain these variables in terms of their
common underlying factors(Prasad et al., 2010). Factor
structure of dependent and independent variables can be
find out with the help of factor analysis with principal
component by varimax rotation.For assessing theconstruct
validity, factor loadings are obtained for each item. The
loadings indicate the strength oftherelationship betweenan
item and a particular factor or practice. The higher the
loading, the better the representation that particular item
has on the factor. For this study, a loading of 0.40 or greater
on the factor was considered (Hair etal.,1998;Arumugam et
Sl
No
Performance
Indicator
No of
items
Cronbach's alpha
(α)
1 IP 5 0.871
2 FP 5 0.783

al., 2008; Ooi et al., 2008). Fortheindependentvariablesince
some items were below 0.40 or are having collinearity with
more than one factor. Hence it is continuedtoperformfactor
analysis and thereby removing the items one by one untill
we get all the item have factor loading above 0.4. And totally
12 items relating to these factorswereeliminated.Further,it
was found that these 8 independent varibles explained
74.992 percent of total variance. The Kaiser-Meyer-Olkin
(KMO) measure of sampling adequacy was 0.803 which is
greater than 0.60 indicate there exist a sufficient
intercorrelations while the Barlett's test of sphericity was
significant (χ2=14127.378, p=0.000 <0.01). For dependent
variables all items are higher factor loading and these two
variables explaining 62.619 percent of variance in the data.
Also KMO is 0.778 and Barlett's test of sphericity was
significant (χ2= 1255.273, p=0.000 <0.01). Findings show
that our sample is suitable for the hypothesis analyses.
4.3.4 Structural equation modelling (SEM)
It was proposed where the thirteen TQM practices were
related against the two performance indicators (financial
performance and innovation performance).
The purpose of SEM was to observe the combined effect of
TQM practices on performance measures (Hair, Black, &
Anderson, 2010). Instead of performing two individual
multiple regression which would regress only one
dependent variable of performance at a time, but by
performing structural equation modelling we can observe
altogether at the same time the combined effect of 13 TQM
practices on the two dependent variables. Thereby
determining systematic and statistically significant co
variation between the constructs. The latent factors were
created based on the combined effect of the 13 TQM
practices and two performance measures. AMOS software
was used to conduct analysis for SEM to examine the
strength of the relationships between the model
independent and dependent variables. Confirmatory
modelling approach is employed to examine the
relationships. The building of the SEM model was based on
literature review documenting the 13 TQM practicesrelated
to the two performance measures. The structural equation
modelling provided outcomes that assessed how well the
model fitted the empirically collected data.
Before evaluating the structural equationmodel,thevalidity
of the measurement model (as shown in fig 2) was tested.
After estimating the measurement model for all factors
without constraining the covariance matrix of the factors,
the SEM for the factors together with the measurement
models was estimated. At each step, whether or not the
model fitted the data was assessed. This assessment of the
model was done by examining the standard errors, by
deleting, adding, and or modifying paths in the model
(modification indices), then re tested using the same data
set, and also examining t-values, p-values, a number of
goodness of fit statistics (CFI, GFI, RMSEA etc.). AMOS 20.0
software was used to test the measurement model. During
the process, some practices namely, customer focus,
employee empowerment, education and training, quality
citizenship and quality culture is eliminated due to low
loading.
Figure -2: Measurement model of the relationship
between TQM practices and performance measures
The assumptions of multivariate analysis– normality,
linearity, and homoscedasticity were testedforthevariables
used in the measurement model. The analysis of the
assumptions of the multivariate model indicated there is no
statistically significantviolationsexist.Duringtheestimation
of the measurement model for TQM practices and
performance measures, an examination of the modification
indices andstandardisedresidualsrevealedredundantitems
in some scales. These redundant items were eliminated,
which resulted in better-fitted models. The results of the
measurement model and structural model with the
recommended values of the fit indices for the satisfactory fit
of a model to data are shown in Table 4.
Table -4: Test results of the measurement models and
structural model

For hypothesis testing, structural equation model were
proposed to observe the relationships between 13 TQM
practices and two performance measures of Indian
manufacturing organizations (as shown in fig 3). The
primary purpose of this study was to identify the direct and
indirect effects of TQM practices on the various dimensions
of performances (financial and innovation). Through testing
the hypothesised structural model, which was developed
based on a comprehensive literature review, this purpose
was accomplished. Parameter estimates includingthefactor
loadings of TQM practices on the TQM construct, regression
path coefficients for the structural paths, are shown in fig 3.
Figure -3: Structural equation model of the relationship
between TQM practices and performances
The goodness of fit statistics used to assess the fit of the data
to the hypothesised model are the same as those usedtotest
the measurement models and are presented in table 4. Also
the table 5 shows, the hypotheses H1, H2 and H3 were
significant at p <0.05 and all the paths in the model are
supported. H1 and H2 significant, means TQM practiceshave
direct and positive effects on financial performance and
innovation performance of Indian manufacturing
organizations. Similarly hypothesis H3 is significant, means
there is an indirect effect on financial performance by TQM
practices through innovation performance. Supplier quality
management, continuous improvement, qualityinformation
analysis, quality assurance and knowledge management
were found to contribute more on improvement of financial
performance throughtheeffectofinnovationperformancein
Indian manufacturing organizations.
Table -5: Construct structural model (TQM on financial
performance through innovation performance)
5. CONCLUSIONS
This paper has accomplished the stated objectives of the
study successfully and analyzed thedirectandindirecteffect
of TQM practices on financial and innovation performances
in Indian manufacturing organizations. The study also
revealed that supplier quality management, continuous
improvement, quality information analysis, quality
assurance and knowledge management were perceived as
the most dominant TQM practices associated with both
financial and innovation performances of Indian
manufacturing organizations. The findings of this study
suggest that these five practices of TQM should be explored
to achieve high innovation performance and there by high
financial benefits in Indian manufacturing companies. So
they can improve their competitive position in global
market. This study has also demonstrated that
manufacturing companies in India believe total quality
management is a key contributing factor to firm
performance and survival.
ACKNOWLEDGEMENT
Gratitude goes to all the organizations and the employees of
those organizations for their immense contributiontowards
this research.
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