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Ekonomika preduzeća
2021, vol. 69, iss. 6-7, pp. 345-356
Quality management and business performance of Serbian companies
Milovanović Vesnaa, Janošević Stevob ORCID, Paunović Mihailoc
aUniversity of Kragujevac, Faculty of Hotel Management and Tourism, Vrnjačka Banja
bUniversity of Kragujevac, Faculty of Economy, Department of Management and Business Economics
cInstitute of Economic Sciences, Belgrade
Project:
This work was supported by the Ministry of Education, Science and Technological Development of the Republic of Serbia

Abstract
The impact of quality management (QM) programs on business results has been the subject of numerous studies worldwide. However, given the complexity of the contemporary QM paradigm and its context-dependence, it is difficult to generalise its impact on business performance. This study examines QM from the strategic management perspective by comprehensively analysing the effects of quality management system (QMS) certification to ISO 9001 in terms of improved business performance and the achieved level of total quality management (TQM) in Serbian companies. Control variables of industry type and company size are employed to observe their possible impact on motives for, and effects of, QMS certification to ISO 9001. The results reveal that the certification of Serbian companies' QMS to ISO 9001 positively influences their operational and market performance, with the impact intensity dependent upon company size and industry type. The impact of certification on financial performance was examined but not confirmed. Compared to companies motivated primarily by marketing interests and market pressure, companies that certify their QMS to ISO 9001 to improve the quality of their business show a higher level of TQM implementation and gain greater benefits from certification.
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About

article language: English
document type: Original Scientific Paper
DOI: 10.5937/EKOPRE2106345M
received: 16/05/2021
published in SCIndeks: 26/11/2021

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