Lean Is a Management Philosophy That Focuses On

question 6

Multiple Choice

Lean is a management philosophy that focuses on:

• A)prevention,appraisal and internal failure costs.
• B)data to reduce variation and waste.
• C)maximizing customer value while eliminating waste.
• D)the voice of the customer.
• E)statistical quality control (SQC)techniques.

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Definitions:

Mortgage Industry

Comprises companies and individuals involved in creating, servicing, and processing mortgages for residential and commercial properties, including lenders, mortgage brokers, and real estate professionals.

Housing Crisis

A situation in which affordable housing is scarce, leading to increased homelessness and housing insecurity among populations.

Foreclosures

The legal process by which a lender takes control of a property, evicts the homeowner, and sells the home after the homeowner fails to make full principal and interest payments on a loan.

Affordable Housing

Housing that is reasonably priced and accessible to those with median or below-median income levels.