“…The vast majority of managers, even 96% of them, were familiar with Total Quality Management (TQM) technique, which in theory had been recognized as a fad, while 94% of them felt that TQM was still applicable for use (David & Strang, 2006). A global survey of 708 companies from five continents found that managers were using more tools than ever (Naidoo, 2004). Of the 25 different management tools used on average, the companies used 16 such tools, with the greatest emphasis on compass-setting tools as mission and vision statements and strategic planning, while managers rejected as ineffective tools such as stock buybacks, corporate venturing, and merger integration teams.…”