Knowledge And Quality As The Factors Of The Business Success
Knowledge And Quality As The Factors Of The Business Success

Summary/Abstract: The time we live in is complex, business conditions are more challenging and burdened by globalization. Always the question is how to find the solution for the growth and development of the organization in time of transition. The solutions we are using to overcome the problem clearly do not give good results, and they have an impact on economic growth. Knowledge in the economy today is the most important resource and source of competitive advantage. In addition to the quality, knowledge is a new business philosophy of the company and has become a key factor for success in the market; it is the organization's long-term investment rather than a quick way to solve the problem. Because of the need to adapt to rapid changes in a large number of companies, the world adopts the concept of total quality management (TQM). This paper clarifies the concept, importance and quality of knowledge in the modern business environment. The results of the application of knowledge and the quality of the organizations that participated in the development of SMEs in Serbia were analyzed.

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