The evolving path of TQM: towards business excellence and stakeholder value

Purpose – The purpose of this article is to analyze the present level of the adoption of TQM in firms, and to outline an evaluation of its evolving path. Design/methodology/approach – A qualitative method was chosen to analyze the “state‐of‐the‐art” of TQM. A total of 21 firms were investigated, using the case study method, in detailed multiple case studies. Findings – In most of the investigated firms, TQM was characterized by stronger and stronger cultural and behavioural features. The co‐ordinated and systematic development of TQM basic factors helps the priming and feeding of innovative processes favouring the course towards business excellence. Research limitations/implications – The research is based on a sample of firms and it is necessary to amplify the research process including other enterprises and to outline some forms of categories (with cultural and behavioural aspects). Practical implications – If TQM is appropriately managed, it supports the organization in achieving excellence, the real source of stakeholder value's continuous creation. In order to achieve business excellence and stakeholder value, TQM importance can be found in two main levels: developing a strategic dimension and the organizational dimension of synergies among TQM, business excellence and stakeholder value. Originality/value – This paper provides an important contribution in the understanding of the evolution of TQM, stressing theoretical and practical implications in a new perspective. This is a composite perspective based on three elements: innovation, excellence, and value.