The Goal of _____ Is to Get Every Employee Thinking

question 156

Multiple Choice

The goal of _____ is to get every employee thinking and acting like a business owner.

• A) management-by-walking around
• B) closed-book management
• C) MBO
• D) open-book management
• E) just-in-time inventory systems

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Definitions:

Elastic

Describes a situation in which the demand or supply for a good or service changes significantly when its price changes.

Inelastic

A situation in which the demand or supply for a product does not change significantly in response to price changes.

Fixed Productive Capacity

The maximum output that an economy can produce without increasing inflation, assuming resources are fully utilized.

Chocolate

A sweet, typically brown food preparation of roasted and ground cacao seeds.