Total Quality Management (TQM) Emphasizes All but Which One of the Following

question 89

Multiple Choice

Total quality management (TQM) emphasizes all but which one of the following?

• A) 100 percent accuracy in performing tasks
• B) continuous improvement in all phases of operations
• C) widespread adoption of industry standard operating practices
• D) benchmarking and total customer satisfaction
• E) empowerment of employees and team-based work design

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Definitions:

Concentration Ratio

A measure used to determine the market share or relative size of the top firms in an industry as an indicator of the level of competition.

Standardized Product

Products that are uniform in quality and performance, produced in large quantities, and often interchangeable with products from different manufacturers.

Nonprice Competition

A marketing strategy where companies compete on factors other than price, such as product quality, service, or branding.

Easy Entry

Market condition where there are few if any barriers for new firms to enter and compete in an industry.