One Recent Development in Lean Thinking Is the Combination of Lean

question 32

True/False

One recent development in Lean thinking is the combination of Lean and Six Sigma into Lean Six Sigma, which combines the rigor of statistical analysis and DMAIC approach with Lean's focus on waste reduction.

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Definitions:

Effective Tax Rate

The average percentage of net income that a person or corporation pays in taxes, effectively showing the portion of income gone to taxes.

Non-Controlling Interest

A minority share of ownership in a subsidiary that is not directly controlled by the parent company, typically reflected in the equity section of the consolidated financial statement.

Consolidated Financial Position

A representation of a parent company and its subsidiaries' financial status as one entity, summarizing assets, liabilities, and equity.

Acquisition Differential

The difference between the purchase price of a company and the fair value of its identifiable net assets at the acquisition date.