The Seven-Step TQM Model Developed by the Department of Defense

question 15

Multiple Choice

The seven-step TQM model developed by the Department of Defense in 1988 is specifically designed to ultimately:

• A)establish action plans.
• B)improve performance.
• C)define mission statements.
• D)set standards.

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Definitions:

Incentivize

Incentivize refers to the practice of offering rewards or incentives to encourage certain behaviors or actions.

Balance Sheet

A report detailing a corporation's assets, liabilities, and equity held by shareholders at a particular moment.

Equity

Ownership interest in a company, represented by shares, which gives shareholders a claim on part of the company's assets and earnings.

Equity Financed

The method of raising capital through the sale of shares in a company.