Quality management involves ensuring that products and services meet customer requirements and provide satisfaction. It can be achieved through quality assurance and quality control. Quality assurance focuses on improving the development process, while quality control tests whether the final product or service works properly. The key difference is that quality assurance is preventative and examines the development process, while quality control is detective and evaluates the final product or service. Implementing quality practices leads to benefits like increased consistency, efficiency and profits as well as better customer satisfaction.