Quality management provides an important competitive edge because it:
a. often results in substantial savings and higher revenues in the short run
b. reduces costs
c. increases customer satisfaction
d. all of these answers are correct.

The correct answer to the following question is option D) All of the above options are correct .

Explanation:

Quality management can be defined as an act of keeping an eye on all the tasks and activities of the organization to maintain the desired level of excellence in the organization. This would include forming a quality policy, creating a plan and then implementing that plan, set quality controls etc. And this would result in reduction in cost , increased customer satisfaction , higher revenues etc.