According to the Textbook, Total Quality Management Is a Philosophy

question 119

True/False

According to the textbook, total quality management is a philosophy of management driven by continual improvement and responding to customer needs and expectations.

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Definitions:

Voluntary Administration

A process for insolvent companies to resolve debt issues with creditors through an independent administrator.

Circulating Security Interest

A floating charge over all of a company.

Floating Charge

A security interest over a fluctuating pool of assets, such as inventory or receivables, which allows the borrower to use the assets in the course of business.

Liquidator

A person or entity appointed to wind up the affairs of a company and dispose of its assets in the event of its liquidation.