What Is the Emphasis of Total Quality Management

question 9

Multiple Choice

What is the emphasis of total quality management?

• A) 1% defects
• B) the status quo
• C) acceptable quality
• D) the elimination of waste

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Definitions:

Operating Assets

Cash, accounts receivable, inventory, plant and equipment, and all other assets held for operating purposes.

Margin

The difference between the selling price of a product or service and its production or acquisition cost, often expressed as a percentage.

Return on Investment

A measure of the profitability of an investment expressed as a percentage of the initial amount invested.

Turnover

The rate at which inventory or assets are replaced over a given period, or alternatively, the total amount of a company's sales or revenues.