________________________________ (Three Words),which Focuses on Managing the Total Organisation to Deliver

question 87

Short Answer

________________________________ (three words),which focuses on managing the total organisation to deliver quality to customers,was at the forefront in helping managers deal with global competition.

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Definitions:

Excessively High Profits

Profits that significantly exceed the normal expected return, often seen as unreasonable or indicative of limited competition.

Perfectly Competitive Market

A market structure characterized by many buyers and sellers, homogenous products, and free entry and exit, leading to price determination purely by demand and supply.

Soybeans

A type of legume native to East Asia, widely grown for its edible bean, which has numerous uses including oil, animal feed, and as a food item.

P × q

The formula representing total revenue, where P is the price per unit and q is the quantity of units sold.