Both Six Sigma and Lean Approaches Are Driven by Customer

question 11

True/False

Both Six Sigma and lean approaches are driven by customer requirements,focus on real dollar savings,have the ability to make significant financial impacts on the organization,and can easily be used in non-manufacturing environments.

---

Definitions:

Technological Advance

Improvements in technology that increase productivity, enhance efficiency, or create new products and markets.

Industrial Concentration

A measure of the extent to which a relatively small number of firms occupy a large market share within an industry.

Nash Equilibrium

A concept in game theory where no player can benefit by changing strategies if other players keep theirs unchanged.

Game Theory

The study of mathematical models of strategic interaction among rational decision-makers.