The Work of W

question 16

Multiple Choice

The work of W.Edwards Deming is most closely associated with

• A)MRP
• B)TQM
• C)supply chain management
• D)time and motion studies

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Definitions:

Business Decisions

The choices made by the management of a company regarding strategic planning, operations, and policies.

Overconfidence

Overconfidence refers to the tendency of individuals to overestimate their own abilities, knowledge, or predictions, often leading to suboptimal decision-making.

Over-Optimism

A bias where individuals or companies have excessively positive expectations about future events or outcomes.

Confirmation Bias

The inclination to seek out, comprehend, prefer, and remember information that validates one’s already held beliefs or theories.