ASSESSMENT OF INVESTMENT ATTRACTIVENESS OF ENTERPRISES BASED ON THE TOTAL QUALITY MANAGEMENT (TQM) CONCEPT
Abstract
The article thoroughly examines the theoretical and methodological approaches to assessing the investment attractiveness of enterprises, incorporating the concept of Total Quality Management (TQM). The primary focus is on the principles that define the effectiveness of this approach: customer orientation, leadership, employee engagement, process-based thinking, and continuous improvement. The authors emphasize the necessity of expanding traditional financial assessments by integrating non-financial criteria such as managerial maturity, corporate culture, business process quality, and innovation potential. It is noted that conventional methods, which rely solely on financial indicators, are insufficient for forming an objective understanding of an enterprise’s long-term development prospects. The article proposes a new integrated model for evaluating investment attractiveness, combining quantitative and qualitative parameters based on TQM principles. This approach enables a more in-depth analysis of an enterprise’s competitiveness within today’s dynamic market environment, characterized by high volatility, rapid changes, and the need to consider sustainable development requirements. Additionally, the study explores the potential for adapting TQM principles to optimize management systems, allowing enterprises to swiftly respond to shifting market conditions and actively implement innovative solutions. The research is built upon a multi-factor analysis methodology, assessing the synergistic effect of integrating financial and non-financial criteria while accounting for both internal and external factors influencing investment attractiveness. Furthermore, the article provides practical recommendations for implementing a continuous quality monitoring system for operational processes. This contributes to increasing organizational flexibility, ensuring effective management, and fostering sustainable development in the face of global competition. Thus, the proposed approach to investment attractiveness assessment enhances strategic management and strengthens business competitiveness by integrating TQM into modern financial and non-financial analytical methods.
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