What term is used to describe the systematic approach to improving product and service quality?

The term that best describes the systematic approach to improving product and service quality is Total Quality Management (TQM). TQM is a comprehensive framework that focuses on continuous improvement of processes in various aspects of an organization, involving all members from the top management to the workforce. This approach emphasizes customer satisfaction, employee involvement, and the importance of data-driven decision-making to achieve high standards of quality.

TQM integrates various quality improvement techniques and philosophies into an overarching strategy that seeks not just to meet quality standards but to exceed them, leading to better products and services. This philosophy also emphasizes the importance of a cultural change within the organization, promoting an environment where quality is everyone's responsibility.

While continuous improvement is indeed a key principle within TQM, it is more of a component or aspect rather than representing the full comprehensive strategy. Quality assurance typically focuses on specific processes and methods to ensure that quality standards are met but does not encompass the broader strategic approach that TQM entails. Cost reduction, while important in business practices, does not directly relate to the systematic improvement of quality in products and services.