An Innovation Mindset That Strives to Meet Customers' Immediate Needs

question 112

Multiple Choice

An innovation mindset that strives to meet customers' immediate needs quickly and inexpensively is referred to as:

• A) Kaizen
• B) Just-in-time control
• C) Total quality management
• D) Jugaad
• E) XY Theory

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Definitions:

Variable Factory Overhead

Costs that fluctuate with the level of production, such as utilities and materials used in the manufacturing process.

Direct Labor Cost

The total cost of all labor that can be directly attributed to the manufacturing or production of goods or services.

Controllable Cost

Expenses that can be influenced or managed by decisions made by a manager or a business, such as materials or labor.

Supervisor

An individual in charge of overseeing and directing the work of a group of people.