Point 7 of Deming's 14 Points Emphasizes On

question 72

Multiple Choice

Point 7 of Deming's 14 points emphasizes on:

• A)teaching and instituting leadership in an organization.
• B)encouraging education and self-improvement.
• C)removing barriers that rob people of pride of workmanship.
• D)taking action to accomplish the transformation in organizational culture.

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Definitions:

Variable Cost

Costs that change in proportion to the level of production or business activity, such as materials and labor costs.

Contribution Margin

The difference between sales revenue and variable costs, indicating how much revenue is contributing to fixed costs and profits.

Incremental Manufacturing Cost

The additional cost incurred to produce one more unit of a product, excluding fixed costs.

Traditional Format Income Statement

A financial statement that presents a company's revenues, expenses, and profits in a standard format, often distinguishing between operating and non-operating activities.