Total Quality Management (TQM) is a management approach that aims to continually improve processes and satisfy customers. Key aspects of TQM include customer focus, leadership commitment, employee involvement, and continual improvement. TQM evolved from quality control and assurance approaches, with major contributions from quality gurus like Deming and Juran. When implemented properly with a focus on processes, prevention, and management principles, TQM can benefit organizations through improved competitiveness, productivity, profits, and customer loyalty.