In Process Improvement Projects,why Should We Focus Our Efforts on Those

question 24

Multiple Choice

In process improvement projects,why should we focus our efforts on those processes that consume the most resources (e.g.,labor,space,capital,etc.) ?

• A)Because those are the processes most visible to the customer
• B)Because those are the processes that use our firm's core capabilities
• C)Because that is where we get "the most bang for our buck."
• D)All of these

---

Definitions:

Supply Shift

A change in the quantity of a product or service that producers are willing and able to sell at all prices, due to factors like technology, production costs, or number of sellers.

Normative Analysis

A type of analysis concerned with what ought to be, focusing on value judgments and statements of what is good or bad.

Socially Desirable

Actions or policies that are beneficial for society as a whole, often considering long-term benefits over short-term gains.

Producer Surplus

The difference between the amount that producers are willing to sell a good for and the actual amount received by them after selling it.