In Order to Eliminate Waste, Companies Must Adopt and Implement

question 23

Multiple Choice

In order to eliminate waste, companies must adopt and implement one or more management practices that focus on different aspects of the lean business model such as:

• A)maintaining inventories large enough to shield against all unanticipated disruptions.
• B)Just-in-Time.
• C)Activity-Based Costing.
• D)multi-dimensional performance measurement systems.

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Definitions:

Learning Organization

An organization that facilitates the learning of its members and continuously transforms itself to better respond to market and environmental changes.

Individual Ideas

The unique thoughts, concepts, views, or plans that originate from a single person.

Societal-Level Developments

Large scale changes or trends that affect societies as a whole, including technological advancements, cultural shifts, and economic transformations.

Big-Box Stores

Large retail stores that are part of chains, known for carrying a wide variety of goods at lower prices.