Examlex
Which of the following is not one of the eight key principles of total quality management?
Natural Monopoly
A type of monopoly that occurs when a single firm can supply the entire market at a lower cost than any potential competitors, often due to high fixed costs.
Fair Return
A reasonable profit that companies aim for, which covers costs and provides a sustainable margin without being excessive.
Operating Efficiency
The capability of an organization to deliver products or services to its customers in the most cost-effective manner without sacrificing quality.
Market Shares
Represents the percentage of an industry's sales that is earned by a particular company over a certain period, indicating the company's dominance in the market.
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