Which Quality Approach Maximizes Customer Value

question 7

Multiple Choice

Which quality approach maximizes customer value?

• A) Root cause analysis
• B) FMEA
• C) Benchmarking
• D) Lean

Understand the importance of a systems perspective in determining job demand.

Differentiate between quantitative and qualitative forecasting methods.

Identify key steps in the application of specific HR forecasting techniques like the Delphi technique.

Recognize the role of environmental factors in influencing HR forecasting.

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Definitions:

Ending Inventory

The total value of goods available for sale at the end of an accounting period, calculated by adding purchases to beginning inventory and subtracting sold goods.

Operating Cash Flows

Cash generated from a company's normal business operations, indicating whether a company is able to generate sufficient positive cash flow to maintain and grow its operations.

Financially Healthy

Describes a state where an individual or organization is in good financial condition, with stable cash flow, manageable debt, and solid financial indicators.

Investing Cash Flows

Cash movements related to the purchase and sale of investments and long-term assets, reflecting a company's investment activities.