Abstract : The implementation of TQM in manufacturing industries is linked with its key factors which are responsible for achieving effective results. The purpose of this study is to identify key factors of TQM implementation and impacts. This study identifies nine key factors of TQM implementation and four factors of TQM impact from the extent literature which can help industry to achieve business excellence. The nine TQM implementation key factors are Top management commitment & involvement, Policy deployment, process control and improvement, Research and development, training and education, maintaining suppliers' empowerment and relationship, customer relationship, employee empowerment and involvement, evaluation and assessment whereas key TQM impact factors were excellence and performance in Customer satisfaction, Employee satisfaction, Product quality and Product performance.