The Practices of TQM Are Closely Related to the ____________________

question 18

Short Answer

The practices of TQM are closely related to the ____________________ philosophy of continuing improvement and include guidelines such as Deming's 14 points,quality audits,competitive benchmarking,just-in-time manufacturing,and worker empowerment.

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Definitions:

Project

A temporary endeavor undertaken to create a unique product, service, or result.

Payback Criterion

A capital budgeting method that measures the time required to recoup the initial investment in a project.

Mutually Exclusive

Referring to events or choices that cannot occur or be taken simultaneously; selecting one option excludes the availability or selection of the other.

Payback Cutoff

The maximum acceptable period within which an investment should recover its initial costs, used as a criterion for investment decisions.