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When Toyota Was Faced with Serious Quality Problems and Was

question 167

Multiple Choice

When Toyota was faced with serious quality problems and was forced to recall thousands of vehicles, the company quickly formed a temporary group of employees to brainstorm the problem. This is an example of a(n) ______ team.


Definitions:

Comparative Advantage

The ability of a country or individual to produce a particular good or service at a lower opportunity cost than its trade partners.

Heckscher-Ohlin Theorem

A theory that explains the existence of a country’s comparative advantage by its factor endowments: A country has a comparative advantage in the production of a product if that country is relatively well endowed with inputs used intensively in the production of that product.

Resource Allocation

The process of assigning and managing assets in a manner that supports an organization's strategic goals.

Resource Constraints

Limitations on the availability of resources, which can restrict output, growth, and efficiency.

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