THE IMPACT OF THE INNOVATIVE TOTAL QUALITY MANAGEMENT TOOL IN SMALL AND MEDIUM-SIZED ENTERPRISES

The present paper falling into the field of innovative management tools explores using the Total Quality Management (TQM) tool in the SME sector in Slovakia, attempting to identify barriers to the use of this tool in the given segment. TQM can be ranked among the innovative management tools that are under investigation and in our contribution, we want to bring a new overview of the use of this tool. Our research was based on foreign research in which the TQM management tool is at the forefront of use. On the other hand, we know from the research conducted so far on management tools in our business environment that the use of innovative tools is relatively low. The present research is based on the formulated hypotheses verified using statistical methods, namely the chi-square test of independence. In this research, we worked with hypotheses arguing that there are statistically significant relationships between the lack of personnel and financial resources on the one hand and the use of the innovative TQM management tool on the other hand. These relationships were statistically proved because in both examined hypotheses the expected value of p was lower than 0.05. We can, therefore, conclude that the lack of financial resources and the lack of skilled labour are among the important barriers to the use of TQM. In the determination of the third hypothesis, we assumed that managers could not agree on the establishment of TQM. This fact can, therefore, contribute to its relatively low use in our business environment. We also consider the incongruity of managers' ideas as a barrier that may have an impact on the use of TQM, and these dependencies were examined by the Chi-square independence test. In verifying this hypothesis, the p-value was calculated to be p.0.05 proving that this factor has no effect on the use of TQM and there is no dependency between these variables. In the present paper, we also focus on juxtaposing the present investigation with the research conducted to date in the field of innovative management tools. The present research is aimed at identifying barriers to the use of this management tool in an SME environment and at presenting TQM as a modern innovative instrument to be used by companies to manage and measure their performance. By using TQM, the company can align the financial and non-financial factors together and thus increase its competitiveness and meet the expectations of investors and other stakeholders.