The Role of Finance in Quality Principles

Creating a financial advantage is important in today's competitive business world. When looking at critical reasons for success, a great deal can be learned by the role finance plays in a quality movement. Each quality movement has priorities. Financial management's importance varies by program. In some quality movement's, financial management is very important and dictates to the group financial objectives. While other programs see financial management less important using a focus on quality or end users. Of key interest, is finding out the proper financial focus. The 50 articles reviewed for this study are a subset of research completed by Aboelmaged (2010) whose review of over 417 journal articles resulted in eight definitions for Six Sigma. An ingredient absent from each definition was finance. This resulted in a need to understand the role finance plays within the design and application of the Six Sigma program. The research found that applying a balanced approach to financial measurements is integral to the success and longevity of the Six Sigma program