Quality culture and priorities of financial management: An empirical study

Abstract

© 2019 International Business Information Management Association (IBIMA). The paper describes the approach of financial managers to quality culture in Slovak conditions. Quality culture as a specific part of organizational culture can mean for the enterprises strong competitive advantage. This is possible only in the case, if quality culture is not only the label for macro environment of the enterprise but at the level of basic assumptions, values, behavioural norms and attitudes, leads all members of the enterprise to achieve high quality. Positive quality culture affects to improving financial performance and financial indicators of the enterprise. Focusing of financial management on quality culture could create one of the new paradigms in this field. The goal of this empirical study is to detect the relation between quality culture and the priorities of financial management in Slovak manufacturing enterprises. Through the survey carried out in the year 2018 to determine and analyse the priorities of financial management and retain or reject the hypothesis that Slovak managements with error prevention culture or creative quality culture agree that the quality is one of the important priorities of financial management.