The quality movement is changing the very nature of the economic paradigm on which modern successful companies operate. Companies which operate on an "invisible hand" paradigm focus on providing goods or services to enhance their own self-interest. Enlightened companies have moved to the "delight the customer" paradigm, which balances their own self-interest with a heightened responsiveness to the current and emerging needs of customers. This moves them beyond the "invisible hand" to a "hand in hand" relationship with their customers. A company's hallmark of business excellence is its ability to build and sustain these ongoing relationships with internal and external customers. This relational dynamic not only increases responsiveness to customer needs; it also increases economic efficiency and enhances organizational effectiveness, often accompanied by enhanced profitability. This paper provides an economic context for understanding the value of relationships and how economic principles which have emerged from the quality movement itself can be integrated into the company culture to enhance excellence.
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