TQM is a philosophy for managing an organisation in a way which enables it to meet stakeholder needs and expectations efficiently and effectively, without compromising ethical values.. This article is about the specific approach to quality management from the 1980s.
Noun. 1. seniority-higher rank than that of others especially by reason of longer service. higher rank, higher status, senior status. high status-a position of superior status.
Materiality is a concept or convention within auditing, accounting, and securities regulation relating to the importance/significance of an amount, transaction, or discrepancy.ateriality depends on the size of the item or error judged in the particular circumstances of its omission or misstatement. Thus, materiality provides a threshold or cut-off point rather than being a primary qualitative characteristic which information must have if it is to be useful..