Stakeholder Theory: Implications for Total Quality Management in Higher Education

Presenter Information

Louis Hickman, Purdue UniversityFollow
Mesut Akdere, Purdue UniversityFollow

DOI

10.5703/1288284316381

Start Date

5-2017 12:00 AM

Comments

Stakeholder theory (ST) is a reconceptualization of the firm that seeks to change business culture from being focused solely on profit and loss to being focused on creating value for the various stakeholders that are affected by or can affect the firm. Total Quality Management (TQM) is a philosophy that focuses the firm on satisfying the customer by improving organizational processes to improve quality of products and services while meeting predetermined standards. Nearly a third of U.S. voters believe colleges and universities have a negative effect on the nation, demonstrating that current quality efforts are failing in higher education (HE). This paper explores how ST can inform the practice of TQM in HE in the U.S. context.