When an Organisation Works with Internal Customers and Suppliers, or Service

question 23

Multiple Choice

When an organisation works with internal customers and suppliers, or service partners, to continually refine and improve the way it creates and provides products and services, this is known as:

• A) a strategic alliance.
• B) total quality management.
• C) integrated value chain management.
• D) quality control.
• E) quality assurance.

---

Definitions:

Value Chain

A model that describes the full range of activities needed to create a product or service, from initial conception through the different phases of production to the delivery to consumers.

Leading Indicators

Economic factors that change before the economy starts to follow a particular pattern or trend, used to predict future movements.

Lagging Indicators

Economic indicators that usually change after the economy as a whole does, thus confirming long-term trends.

Cognitive Bias

A systematic error in thinking or decision-making due to the brain's attempt to simplify information processing.