The goals of the study are to draw conclusions about the use of total quality management to increase the efficiency of the functioning of companies (especially in developing countries), and to assess what indicators of their performance it affects. The main methods in the framework of the study can be considered analysis, modelling, formalization, abstraction. The paper describes the essence of total quality management, its philosophy, and application features. Also, a statistical analysis was carried out on the basis of data from American enterprises, which assessed some main characteristics of the activities of enterprises using total quality management and not. A similar study was conducted for enterprises in some developing countries, in which the main indicators were revenue, net profit, and asset growth rates. During the analysis, the author came to the conclusion that the application of the overall quality management strategy increases the overall efficiency of the functioning of companies by increasing the growth rate of net profit.

Highlights

• In modern conditions of the functioning of the economy, competition between enterprises is becoming increasingly fierce.