Six Sigma Encompasses the Activities Necessary to Get Inputs and Components

question 16

True/False

Six Sigma encompasses the activities necessary to get inputs and components to a production facility, through the production process, and out through a distribution system to the end-user.

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Definitions:

Efficiency Wages

A theory suggesting that employers pay higher than the market-clearing wage to increase worker productivity, loyalty, and satisfaction, thus reducing turnover and shirking.

Equilibrium Level

The state in which market supply and demand balance each other, and, as a result, prices become stable.

Increase Unemployment

Refers to a situation where the number of individuals in a workforce who are without a job, and are actively seeking employment, rises.

Union Bargains

Union bargains involve negotiations between labor unions and employers on employment terms, such as wages, working conditions, and benefits for the workers.