Literature Review Linking quality with profitability The contemporary organizational models are well focused on the fact

that if they wish to sustain in the competitive markets they will have to capitalize on a competitive advantage. In the similar context quality has long been the point of contention for the contemporary organizations. This assumption of the business mounts that the operations and the objectives of the firm are financially balanced and are devised to generate the benefits to satisfy the entire chain of stakeholders. Firms are formed on an ongoing assumption this implies that the firms are established to survive forever, so if we are forming a firm on an ongoing assumption than we will have to satisfy the entire chain of stakeholders for the swift and ongoing firm operations. The firms are therefore operating to maximize the wealth. This particular trait according to business conduct it cannot be considered unethical because businesses operate to generate revenues and these revenues in the form of taxation runs the economies at large. The point to consider mentioned by here is that the objective of wealth maximization needs to be augmented with a better off situation for the firms as well as the society makes the stance clear that by examination of the firms values and the capitalization rates, also termed as the weighted average cost of capital the profit maximization ratios can be affirmed. when we consider the dynamics of human behavior as guided by Behavior Economic; people today have a lot of choices but they usually form a decision that are not fully informed but on the contrary they employ simplistic decision making tools and habits to chooses among the alternatives. The model of Behavioral Economics supports the concept human decision making as a sub-discipline of the neo-economics. The behavioral economics indicates that even under the

regular and most simplistic economic environments, the actual human behavior is observed to diverge from the assumptions and suppositions that are theoretically mounted. This is primarily observed because people usually make choices that at times does not falls into the domain of their personal interest Deming Wheel PDCA Cycle PDCA Cycle of Quality Improvement As for the attainment of the desirable profits, organizations are increasing investing to enhance its quality standards. The Deming wheel PDCA model is used in order to invest profitably to enhance quality. Although Dr. Deming has nominated fourteen points to advocate the creating and maintenance of Quality but the model of Deming Wheel discussed below incorporates most of the essence of the quality creations and the rationale why small and medium sized enterprises should abide by quality rather than financial deposits to sustain in the competitive market place. Plan The foremost step to create and instill Quality is planning. By planning the model refers to the firms objective to capitalize on the quality and planning resources to abide by the conduct of Quality as specified by Do The next step in the Deming Wheel of creating Quality is doing, the firms are than required to arrange resources and do the planned activities in order to derive the maximum outcomes

Check It is equally important for the organization to ensure that the planned activities are being abided by in a rational format. And the activities are well orchestrated for the attainment of the overall quality mission Act Finally the Deming Wheel terminates its initial cycle by acting upon the feedback obtained in the checking activities of planning and doing phases. Each phase of the cycle is well incorporated to facilitate the organizations attainment of quality. It is essential to maintain that the large small and medium sized enterprises are well augmented for the assurance of quality products and services. The organizations are laying priorities to the create quality rather than creating tills of wealth. The investment made to enhance Quality is beneficial for the organization in the long run.

Six Sigma DMAIC Model The other widely used Total Quality Management tool is the Six Sigma DMAIC model of quality creation in the firm. It incorporates the following five stages Define The initial most phase is to define the quality standard an organization strives for. This requires ceaseless planning and market survey so that the standards maintained by the organization is achievable as realistic

Measure The activity of measuring the relativity of change required for the quality creation efforts. The organization measures the existing state and subsequently the stage where it wishes to pursue in terms of quality. This gap analysis is well measured and strategies are devised. Analyze The gap analysis and the strategies to attain the reestablished quality standard is conducted in this phase Improve The areas of functional improvements are narrated and identified Control And terminally the output along with the existing mission is controlled under the supervision of the following quality standards Quality Standards ISO 9000 ISO 9000:2000 ISO 9001: 2000 ISO 9004: 2000 ISO 14000

Action Planning Benefits: by explaining the employees and supervisors the benefits the firm will attain on account of quality improvement. Compatibility: by explain the ease the system will prompt, to the trainers and supervisors will enhance the compatibility of the system. This is precisely the compatibility in terms of quality improvement techniques and the nature of the firm. Trainability: the precise fear why this change may encounter resistance is the trainability factor. The supervisors will assume that the system is tricky and difficult to learn, but by offing the orientation to this change the system can be flexible understood and applied. Simplicity: by simplifying and breaking the entire notion in small chunks the quality improvement exercise will generate simple to understand outcomes.

Conclusion RADAR Evaluation The EFQM model of excellence can open the brighter arena of growth and development in the construction sector of Pakistan. The RADAR approach is one of the critical methods that provide the quantified results in the assurance of sound facts and policy implication Results (R) The outcomes of applying the model of excellence is will be measured by the degree and nature of outcomes will amplify the acceptance of the EFQM excellence model in a developing country

like Pakistan. The precise reason of incorporating the PDCA cycle and six sigma approach is to strengthen the base for the acceptance of EFQM model of excellence. Approach (A) The approach of acceptance of the EFQM will be the determinant of its success in the Pakistani construction sector. It has been notified by examples presented in the thesis that the acceptance of the quality standards can only be realized if the quantified approach takes in the construction sector Deploy (D) The process of deployment of the quality standards that pertain to the EFQM model will ultimately reveal the strength of the EFQM model of excellence. Assess (A) The process of assessment of the EFQM model ultimately incorporates the assessment of the quality standard and the TQM tools that pertain to the acceptance of the model Refine (R) The outcomes and feedback of the industry players will ultimately exemplify the notion of EFQM acceptance and prevalence in the construction sector.