Total Quality Management (TQM) is both a philosophy and set of principles for continuously improving an organization. It integrates management techniques, improvement efforts, and tools to exceed customer needs now and in the future. TQM requires focusing on customers, involving all employees, continuously improving processes, treating suppliers as partners, and establishing performance measures. When implemented properly with management commitment, training, and an emphasis on culture change, TQM can lead to benefits like improved quality, customer satisfaction, productivity, and profitability. However, obstacles like lack of planning, resistance to change, and failure to continuously improve can undermine TQM efforts.