An Important Criticism of Total Quality Management Is That It

question 53

Multiple Choice

An important criticism of total quality management is that it

• A) tried to do too much.
• B) quality means different things to different people.
• C) actually took focus off of the customer.
• D) focused too much on adherence to standards, taking the enjoyment out of work.

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Definitions:

Net Operating Income

The profit realized from a business's operations after subtracting all operating expenses from operating revenues.

Contribution Margin

The amount by which a product's selling price exceeds its total variable costs, used to cover fixed costs and contribute to net profits.

Variable Expense Ratio

A financial metric that represents the proportion of variable expenses to sales revenue, indicating how much variable costs change in response to sales activity.

Break-even Point

The level of production or sales at which total costs equal total revenue, resulting in no net loss or gain.