Deming Created a Three-Stage Model for Change, Including the Process

question 31

True/False

Deming created a three-stage model for change, including the process of unfreezing, changing and refreezing.

---

Definitions:

Differential Revenue

The difference in revenue generated under two different scenarios or as a result of a specific action.

Additional Cost

Expenses incurred that are over and above the originally planned or estimated costs.

Selling Price

The amount at which a product or service is offered to customers for purchase.

Opportunity Cost

The benefit that is missed or given up when choosing one alternative over another.