The Success of Japanese Total Quality Management

question 21

Multiple Choice

The success of Japanese Total Quality Management

• A)shows that it is possible to pursue cost leadership and differentiation strategies simultaneously.
• B)refutes the perceived trade-off between low cost products and high quality products.
• C)has made porter's analysis outdated.
• D)b and c.

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Definitions:

Utility

A measure of satisfaction or happiness that a person derives from consuming goods and services.

Marginal Utility

The additional satisfaction or utility a consumer receives from consuming one more unit of a good or service.

Maximize Utility

The process or goal of obtaining the highest level of satisfaction or benefit from consuming goods and services, given a consumer's limitations, such as income or resources.

Income

The financial gain received by an individual or entity, typically measured over a period of time, deriving from labor, investment, or business ventures.