This paper is to analyze and provide the managerial requirements for the successful implementation of TPM. It tries to identify the determining factors for the success and reasons for the failure of TPM, based upon the research of a surveyand an empirical study through the years in Korea. The findings are such that the successful implementation of TPM depends largely upon how top management perceives TPM and how the firm responds to the changes of organization and of the workers role to adapt this new concept of work. It is necessary that TPM is perceived as a means to achieve not only the maintenance requirements, but also the company`s business objectives. Each company should construct and develop its own model and procedures to drive the effort for TPM implementation.