In the Fourth and Final Stage of the Total Management

question 106

Multiple Choice

In the fourth and final stage of the total management quality (TQM) process, the organization compares its effectiveness to:

• A)their performance levels prior to the intervention.
• B)competitors who have a very high level of performance.
• C)competitors who have a very low level of performance.
• D)their projected performance in the next 12 months.

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Definitions:

Unemployed Resources

Resources that are not currently being utilized in the production of goods or services, often referring to labor or capital lying idle.

Production Possibilities Curve

A graphical representation showing the maximum number of goods or services that can be produced using limited resources efficiently.

Full Employment

Refers to a situation in the economy where all available labor resources are being used in the most efficient way possible.

Unemployment Rate

The proportion of the overall workforce that is not employed but is actively looking for work and ready to take on a job.