Total Quality Management (TQM) is increasingly lambasted by management
gurus and the business media for a lackluster impact on the bottom line. The question of
whether the adoption of TQM improves financial performance has been discussed for
several years.However, most research has examined large organizations, and it has been
recognized that TQM studies on small and medium enterprises (SMEs) is limited (Parkin
and Parkin 1996; Walley 2000). This paper presents a study of the impact of TQM
components on small and medium enterprises’ financial performancein Jordan while also
providing a review of global TQM research