An Operation That Achieves Increased Efficiency While Simultaneously Improving Effectiveness

question 39

Multiple Choice

An operation that achieves increased efficiency while simultaneously improving effectiveness is best described as practicing ____.

• A)lean manufacturing
• B)ISO 9001
• C)mass customization
• D)concurrent engineering
• E)JIT operations

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Definitions:

Operating Profit

Profit generated from a company's core business operations, excluding deductions of interest and taxes.

Net Profit

The financial gain achieved after subtracting all expenses, taxes, and costs from total revenue.

Net Income

The total earnings of a company after subtracting all expenses, taxes, and costs, indicating the company's profitability.

Depreciation

The accounting process of allocating the cost of tangible assets over their useful lives, reflecting wear and tear or obsolescence.