What Term Describes a Special Ability That Production Does Especially

question 101

Multiple Choice

What term describes a special ability that production does especially well to outperform the competition?

• A) supply chain management
• B) total quality management
• C) process engineering
• D) operations capability
• E) value-added analysis

Understand the ethical considerations involved in product marketing and advertising claims.

Appreciate the complexities of social responsibility within the context of global and local actions by corporations.

Differentiate between the three concepts of social responsibility concerning their specific focus areas and constituencies.

Assess the ethical obligations of companies in relation to profit maximization and societal benefits.

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Definitions:

Customer Value

The perception of worth that a product or service has in the mind of the consumer, often influencing their buying decisions.

Internal Accounting Systems

The set of procedures and records that a company's management uses for financial planning, analysis, and decision making within the company.

Dysfunctional Results

Outcomes of processes or activities that negatively affect the goals or functioning of an organization.

External Failure Cost

Costs incurred when a defective product or service is discovered after delivery to the customer, including returns, repairs, and lost sales.