Toyota Employs All of the Following Principles and Practices as Part

question 71

Multiple Choice

Toyota employs all of the following principles and practices as part of "The Toyota Way" except

• A)continuously improve business processes and products.
• B)empower individuals and teams.
• C)respect people.
• D)build trust.
• E)provide personalized and customized products.

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Definitions:

Efficient Scale

The level of production at which a firm can produce its product at the lowest average cost per unit.

Economies of Scale

Economies of scale describe the cost advantages that enterprises obtain due to their scale of operation, with cost per unit of output generally decreasing with increasing scale.

Economies of Scale

Cost advantages reaped by companies when production becomes efficient, as the cost per unit of output decreases with increasing scale.

Specialization of Labor

An economic strategy where individuals or groups focus on producing a limited range of goods or services to increase efficiency and output.