The New Process Used Elements Of Tqm And Benchmarking Essay

Application by other organizations. To reduce internal complacency, the navy identified financial, customer, internal, and learning and growth CSFs across the force to create greater awareness of financial accountability and regulatory compliance. Using the BPI process, navy financial executives analyzed internal processes across the force and implemented a new rule set. The new process used elements of TQM and benchmarking to foster and expand an organization’s financial effectiveness to guarantee compliance with federal guidance, directives, and laws while ensuring proper appropriation, allocation, and accountability of government funds. As such, the navy developed and implemented the Financial Improvement and Audit Readiness (FIAR) assessment to create greater awareness of financial and administrative processes associated with organizational budgeting operations (C. Sacksen, personal communication, October 4, 2016). The FIAR examines internal financial and administrati ve controls related to travel documentation, financial accountability, appropriations, funding records, and written statement authentications. The FIAR process also examines whether an organization is applying sound financial controls and accounting practices in reconciling the travel budgets against the actual appropriated funds. Furthermore, the FIAR TQM guidance established new processes to reinforce awareness of expectations. In addition, the FIAR automated and standardized budgeting processesShow MoreRelatedTotal Quality Management : Tqm Essay716 Words   |  3 PagesQuality Management (TQM) refers to management methods used to enhance quality and productivity in business organization. TQM is a comprehensive management approach that works horizontally across an organization, involving all departments and employees and extending backward and forward to include both suppliers and customers. 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