An Experimantal Study on Relationship between Student Socio-Economic Profile, Financial Literacy, Student Satisfaction and Innovation within the Framework of TQM

The continuous change experienced in education, and the tough competition between universities compel universities to go into restructuring in terms of understanding students’ needs. Since the quality of the services provided by educational institutions is measured by the qualified work force, who graduate from these universities, the quality of education has utmost importance as a primary element that affects the quality of all sectors. In this context, by determining the needs and expectations of students from universities, one can offer new perspectives to develop innovative strategies in educational system. Additionally, raising financial literacy levels of societies and spreading saving awareness should be a priority among the economic and social policies of the countries. The purpose of this study is to investigate whether the satisfaction students get from the opportunities provided by the university is effective on students’ socio-economic profiles. This study also aims to make a certain extent of contribution to the solution of the problems that hinder students from utilizing the services provided by universities. In this study, survey questions are asked to determine students’ expectations from universities and their opinions about the quality of services that universities provide. A total of 1004 students participated in the study. While frequency tables and MANOVA were employed in the evaluation of data, pareto analysis was utilized within the context of total quality management. Empirical results suggest that there is a significant relationship between the education levels of the students’ parents, the families’ social status and the way how students perceive the problems.