Quality management is a sort of innovative phenomenon. It is based not only on the quality of the service or product but also on all possible methods of its achievement. It is well-known that quality management has three key components: quality control, quality improvement and quality assurance. Therefore, quality management includes quality assurance and process control to ensure high quality.

Quality management is considered to be one of the hardest aspects to control. A number of goals are set behind the concept of quality management, such as: improvement of the business process, optimization of the business performance and maximization of profit. Definition of quality is based upon the explanation that quality is an excellence degree. When the question is about management, the conducting or supervising of anything is meant. Therefore, we can define the notion of quality management itself. Thus, quality management is the process of supervising of the excellence degree. The majority of companies try to achieve a certain excellence degree without wasting a lot of money.

Since the quality management is the coordinated activity which consists of the guiding and controlling of the quality organization, it covers a number of management principles presented below:

• Customer focus.
• Leadership.
• People participation.
• Process approach.
• Management system approach.
• Steady improvement.
• Firm decision making.
• Favorable supplier affairs.

Consequently, we can draw a conclusion that quality management is an integral part of the general management aspect which helps your business to carry on and for the customers to stay satisfied. It is highly important to develop a steady balance of cost and quality in order to achieve success. If good and experienced management quality staff is at your disposal, your business will go up and no fail will ever be observed. Every company decision should be made in strict accordance with the principles presented above. Keep in mind that a great number of factors can influence the outcome of the decision. Moreover, there is no doubt that good management involves the ability to balance these aspects by means of the established and tested processes and sound logic.