Quality, quality system and quality management are theoretically present, together with the attempts of implementation in business practice, for the last fifty years. During this period they experience affirmation, as well as disputation. Elementary definition of quality management suggests that it is a method for ensuring that all necessary activities for the design, development and implementation of products or services are effective and efficient in relation to the system and its performance. In terms of evaluation and performance of quality product, in the historical perspective quality is even older phenomenon than its actualizations in the previous century. Namely, long ago craftsmen were establishing high quality level of a product to meet the requirements of the clients. The paper analyzes the evolution of quality management system, which is primarily a result of changes in the companies' external environment. Corporate social responsibility and the need for the respect of interests (stakes) and other interested influential groups and individuals (stakeholders), other than the owner, appeared as problems under new circumstances. Stakeholders' approach in quality management therefore arose as a consequence that in its grounds wants to achieve business excellence and satisfaction of all stakeholders, i.e. the delivery of stakeholders' value. The paper also points to the necessary conditions for the realization of the new quality model. Key words: quality management, business excellence, corporate entrepreneurship, stakeholders' approach

Economics