Total Quality Management (TQM) Programs

question 111

Multiple Choice

Total quality management (TQM) programs

• A) deal exclusively with procedures to achieve defect-free manufacturing and assembly.
• B) nearly always contribute more to the achievement of operating excellence than either business process reengineering or Six Sigma quality control techniques.
• C) entail creating a corporate culture bent on continuously improving the performance of every task and every value chain activity.
• D) are considerably more effective in improving manufacturing and assembly activities than they are in improving such value chain activities as R&D, human resources management, supply chain management, information technology, sales, and marketing and finance.
• E) are generally considered the best tool for reengineering strategy-critical business processes.

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Definitions:

Accruals

Accounting adjustments for revenues that have been earned or expenses that have been incurred but not yet recorded.

Level of Operations

Refers to the scale of production or business activity, indicating the degree to which a company utilizes its resources.

Factoring

Factoring is a financial transaction where a business sells its accounts receivable to a third party (the factor) at a discount, to raise immediate capital.

Accounts Receivable

Money owed to a company by its customers for products or services delivered but not yet paid for.