Goals of a Lean Business Model Include All of the Following

question 56

Multiple Choice

Goals of a lean business model include all of the following except:

• A)Eliminate waste.
• B)Better inventory control.
• C)Continuous improvement.
• D)Consistent production levels.
• E)Fewer product defects.

Know the basic premises and implications of the Leader-Member Exchange (LMX) theory.

Recognize the influence of cultural values on leadership and follower roles.

Identify strategies leaders use to manage performance deficiencies.

Explain how leaders’ actions and decisions impact follower perceptions and attributions.

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Definitions:

Computers

Electronic devices capable of processing, storing, and communicating information according to a set of instructions called programs.

Comparative Advantage

The capability of a nation, person, corporation, or area to generate a product or service with a lesser opportunity cost compared to rivals.

Specializes

The process by which individuals, businesses, or countries focus on producing a limited scope of products or services to gain greater efficiency and expertise.

Opportunity Cost

The financial impact of rejecting the nearest superior alternative when deciding.