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The Total Quality Management Approach Recognizes That Defects Are an Inevitable

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True/False

The total quality management approach recognizes that defects are an inevitable part of mass production, and that the cost of replacing defective goods is just a cost of doing business.


Definitions:

Creates Value

Generally refers to actions or processes that increase the worth of a product, service, or company to stakeholders.

Owners

Individuals or entities that possess legal title or right to a property or asset.

Payback Rule

A capital budgeting method that determines the length of time required to recoup the initial investment from the cash inflows produced by the investment.

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