Silver N' Gold Inc

question 84

Multiple Choice

Silver n' Gold Inc.recently introduced a new control philosophy in which all employees have access to the same information that owners have, such as what money is coming in and where it is going.This is an example of which of the following?

• A)Balanced scorecard
• B)Six Sigma
• C)Continuous improvement
• D)Total quality management
• E)Open-book management

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Definitions:

Management

The practice of organizing, planning, leading, and controlling resources and people to achieve specific goals.

Horizontal Communication

The exchange of information between individuals or groups at the same level within an organization.

Lateral

Referring to interactions or relationships that occur at the same level of hierarchy within an organization, as opposed to vertical, top-down relations.

Department Heads

Individuals responsible for overseeing specific departments within an organization, ensuring their team's performance aligns with company goals.