Examlex
A student takes a true-false test that has 14 questions and guesses randomly at each answer. Let X be the number of questions answered correctly. Find P(5)
PDCA Cycle
A management method used for continuous improvement, standing for Plan-Do-Check-Act.
Continuous Improvement
An ongoing effort to enhance products, services, or processes by making incremental improvements over time.
Lean Business Model
A strategic approach focused on maximizing customer value while minimizing waste, improving overall efficiency.
Management Practices
The strategies, methods, and techniques used by managers to administer, direct, and control business operations.
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