Deming Felt That Any New Skills That Employees Needed Should

question 103

Multiple Choice

Deming felt that any new skills that employees needed should be acquired ________.

• A)when they are hired and trained
• B)by the employees on their own
• C)when the need arises
• D)years ahead of time

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Definitions:

Cost Of Goods Sold

The total expense incurred by a business to manufacture or acquire products that were sold during a specific period.

Profit Margin

A financial metric indicating the percentage of revenue that exceeds the costs associated with making or selling products.

Profitability

A financial metric used to assess the ability of a business to generate earnings relative to its revenue, assets, equity, or other financial metrics.

Liquidity

How effortlessly an asset can be turned into cash without altering its market price.