Simtec Believes in Supplying the Highest Quality in Engineering Equipment

question 57

Multiple Choice

Simtec believes in supplying the highest quality in engineering equipment and controls. To make sure that its products fit the needs of its consumers, the company sends researchers into the field to examine consumer needs and to see exactly how consumers use equipment to solve problems. The company then follows up with phone calls and emails to provide clients with information about what has been seen on the job site. With respect to TQM, Simtec is following a practice called ________.

• A) "going to the mat"
• B) "going to the gemba"
• C) "going to the garden"
• D) "saving face"

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Definitions:

Preferred Stock

A class of ownership in a corporation that has a higher claim on assets and earnings than common stock and typically dividends that are paid out before those to common stockholders.

Annual Dividend

The total amount of dividend payments a company makes to its shareholders over a single fiscal year.

Return

The income generated on an investment over a particular period of time, expressed as a percentage of the investment's initial cost.

Call Option

A financial contract giving the buyer the right, but not the obligation, to purchase a stock, bond, commodity, or other asset at a specified price within a specific time period.