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Match the Term with the Best Descriptor.​

question 12

Multiple Choice

Match the term with the best descriptor.​
-​DNA and protein arranged in a loose and diffuse state

Understand the concept and importance of process innovation in improving production methods and its impact on a firm's total product curve and cost structure.
Grasp how consumer choices between new and existing products are influenced by marginal utility (MU), price (P), and the marginal utility-to-price ratio (MU/P).
Recognize the significance of product and process innovation on firm profitability and competitive advantage.
Identify factors influencing consumer decisions to buy new products, including price, utility, and innovation.

Definitions:

Philip Crosby

An influential quality management expert best known for his philosophy that organizations should aim for "zero defects" to improve quality.

Quality Loss Function (QLF)

A mathematical function that identifies all costs connected with poor quality and shows how these costs increase as product quality moves from what the customer wants.

Costs of Quality

The expenses associated with preventing, detecting, and correcting defective work, categorised into prevention costs, appraisal costs, and failure costs.

ISO 14000

A series of environmental management standards established by the International Organization for Standardization (ISO).

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