Deming Stressed That the Lowest Levels of Operational Staff in an Organization

question 25

True/False

Deming stressed that the lowest levels of operational staff in an organization must assume the overriding responsibility for quality management.

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Definitions:

Risk Averse

A description of an investor's preference for lower risk, opting for surety over a gamble with potentially higher returns but higher uncertainty.

Cash Flow

The net amount of cash and cash-equivalents being transferred into and out of a business, critical for daily operations, taxes, purchasing inventory, and paying employees.

Probability

A measure of the likelihood that a specific event will occur.

Capital Budgeting

The process of evaluating and selecting long-term investments that are in line with the goal of shareholder wealth maximization.