The ____________Efers to the Systematic Reduction in Production Costs That

question 10

Multiple Choice

The ____________efers to the systematic reduction in production costs that have been observed to occur over the life of a product.

• A)experience curve
• B)forward advantage
• C)positive-sum result
• D)managed advantage

Recognize the impact of adopting lean business models and just-in-time manufacturing on cost and efficiency in a manufacturing environment.

Appreciate the role of the balanced scorecard in augmenting financial measures with future financial performance indicators for continuous improvement.

Comprehend the role of managerial accounting in analysis, planning, and control of costs.

Understand the principles of total quality management and its focus on continuous improvement.

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Definitions:

Federal Legislation

Refers to laws passed by the national government of a country.

Civil Rights

The rights of citizens to political and social freedom and equality, often protected under law.

Jargon

Specialized terminology associated with a particular field or area of expertise, which can be difficult for outsiders to understand.

Patronizing

Treating others with an apparent kindness that betrays a feeling of superiority.