It was set up in 1951 by the Union of Japanese Scientists and Engineers (JUSE) to recognise and encourage companies that do an outstanding work in the field of quality management. The Deming Prize is a prestigious award given to organisations that have demonstrated excellence in quality management. It is named after W. Edwards Deming, a pioneer of TQM, and is awarded by the Japanese Union of Scientists and Engineers. The prize is based on Deming's 14 Points of management and is awarded to organisations that have shown outstanding results in areas such as customer satisfaction, employee involvement, and continuous improvement, customer, leadership, and a systematic approach to quality management. The Deming Prize has become a symbol of excellence in quality management and is recognised globally as a mark of quality and reliability.
Source: Deming Prize Website
Why Deming Prize?
Deming Prize is an ultimate recognition as a leader among the best-in-class who competes with their benchmark practices in TQM. Companies compete for the Deming Prize by adopting TQM principles and concepts to meet their needs for significant performance improvement in a competitive environment. It serves as a standard for organisations to improve the overall culture by emphasizing on quality, customer satisfaction and employee involvement.
Deming Prize Framework
The organisations that use TQM to achieve the following three criteria are awarded the Deming Prize.
A. The company has built proactive customer-oriented business objectives and plans based on social responsibility of the organisation under clear management policies that reflect its management philosophy, industry, scale, and environment. And in their formulation, the senior management demonstrates leadership.
B. The company goals and strategies listed under A) above are being realised with the appropriate use of TQM.
C. As a result of B), the organisational capability necessary for future growth has been secured in addition to the achievement of the business objectives and strategies of A) above.
Deming Prize typical roadmap
The duration required for implementing a TQM program depends on several factors such as the company's size, workforce age, business complexity, organizational culture, and current status. Typically, companies have needed four to six years to complete the process. KPMG in India with its experience and competencies available in-house will be able to efficiently plan and deploy practices that enables businesses to reach the competing levels.