In the Context of New Ventures, What Does SBA Stand

question 5

Multiple Choice

In the context of new ventures, what does SBA stand for?

• A) Standard Business Arrangement
• B) Small Business Association
• C) Small Business Administration

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Definitions:

External Failure Costs

Costs incurred when a customer receives a defective product.

Appraisal Costs

Costs related to identifying defective units before they are shipped to customers.

Optimum Quality Level

The level of quality at which the total cost associated with quality management (including prevention, appraisal, and failure) is minimized.

Balanced Scorecard

A set of performance measures that provide a comprehensive view of the organization by recognizing the goals of shareholders, the satisfaction of customers and employees, and methods to improve the firms internal processes.