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Customers' Perception about Total Quality Management in Banking Sector: a Comparative Study in Punjab Region
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Total Quality Management (TQM) is an integrative philosophy of management for continuously improving the quality of products and processes of an organization. Banks being a service oriented organization, cater to the customers belonging to all sections of society. Banks which are able to produce and provide world class quality to the customers can survive and compete. Furthermore, the Indian banking environment is at present engulfed in a very healthy and intense competition between public sector banks and private sector banks. In order to retain and enlarge a competitive edge in such a highly competitive market place, banks ought to offer various strategic programmes. One of the significant programmes is TQM. Present study seeks to assess the degree of perception of customers about TQM services offered by banks - SBI, PNB, Two public sector banks - and two private sector banks HDFC and ICICI in Pathankot city of Punjab state. Relationship has also been assessed between TQM implementation and different variables on which TQM is dependent. Six constructs were used to ascertain the nature of services offered by the banks and to know the perception of customers about TQM services offered by the banks. The data was analysed with the help of univariate and bivariate techniques. Reliability and validity of the variables were also checked. The study has revealed that customers' perception about TQM services is better in private sector banks as compared to public sector banks. Finally the study suggests an action plan to be adopted by public sector banks to improve their TQM services to be offered to their customers.
Keywords
TQM, Banks in India, Customer Perception
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