Six Sigma Is Based on a Five-Step Methodology Referred to As

question 136

Multiple Choice

Six Sigma is based on a five-step methodology referred to as:

• A) continuous improvement.
• B) DMAIC.
• C) kaizen.
• D) DAID.
• E) benchmarking.

Explain the key concepts in capitalism according to Adam Smith, including the invisible hand and competition.

Understand the significance of adapting to customer preferences and technological advancements for business success.

Recognize the impact of competitive differentiation and consumer orientation on business strategies.

Identify the effects of globalization on business operations, including offshoring and global workforce management.

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Definitions:

Layoffs

The act of temporarily or permanently dismissing employees from their jobs, often as a cost-saving measure during periods of economic downturn or organizational restructuring.

Demand Options

Different strategies or choices available to meet customer demand, such as stocking levels, lead times, or product customization.

Capacity Options

Different strategies or choices an organization can employ to manage its production capacity, such as increasing shifts, outsourcing, or investing in new facilities.

Disaggregation

The process of breaking an aggregate plan into greater detail.