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Because Profit, or the 'Bottom Line', Is Not the Measure

question 69

True/False

Because profit, or the 'bottom line', is not the measure of success for not-for-profit organisations, managers of charitable organisations do not have to concern themselves with the financial aspects of their organisations.


Definitions:

Six Sigma

A program to save time, improve quality, and lower costs.

Run Test

A test used to examine the points in a control chart to see if non-random variation is present.

Control Chart

A statistical tool used to analyze the stability of processes and monitor if they are in control by plotting data over time.

Acceptance Sampling

A statistical quality control method that involves inspecting a random sample of goods to decide whether the entire batch meets specified criteria.

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