The Inherent Focus of TQM Is on Managing the Total

question 156

True/False

The inherent focus of TQM is on managing the total organization to deliver quality to the customer.

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Definitions:

Economic Efficiency

A state in which resources are allocated in a way that maximizes the total benefits received by all individuals in an economy.

Benefits

Advantages or payments made to individuals or employees, which can include health insurance, retirement plans, and other perks beyond basic salaries.

Costs

The expenses incurred in the process of producing or providing goods and services.

Efficiency Standpoint

A perspective from which actions are evaluated based on their ability to achieve the highest output with the least waste of resources.