Conceptualising Total Quality Management as a Predictor of Performance in Nigerian Microfinance Institutions

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  •   Henry Osahon Osazevbaru

  •   Freedom Oyibo

Abstract

This study examined total quality management as determinant of the performance of microfinance organizations. It seeks to empirically investigate the predictive power of total quality management (TQM) dimensions on performance measured by customer satisfaction. A survey research design was adopted and 20 licensed microfinance banks in Delta State were sampled. The total number of employees of the selected banks was 327. Taro Yamane formula was used in determining a sample size of 180 employees. The data were analysed using both descriptive and inferential statistics. The results revealed that all the TQM dimensions were significantly related to performance. Specifically, continuous quality improvement, employee involvement and customer relationship management predict positive performance. The study concluded that TQM practices need to be given adequate attention by microfinance institutions. The study recommended among others that employees in microfinance banks should be updated on best practices in the industry. Also, microfinance banks should train and retrain their employees on innovative and best practices in the industry.

Keywords: Benchmarking, Customer Satisfaction, Employees’ Involvement, Leadership, Quality Management.

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How to Cite
Osazevbaru, H. O., & Oyibo, F. (2023). Conceptualising Total Quality Management as a Predictor of Performance in Nigerian Microfinance Institutions. European Journal of Business and Management Research, 8(1), 86–92. https://doi.org/10.24018/ejbmr.2023.8.1.1689