The Three Principles That Characterize TQM Are Continuous Improvement, Teamwork

question 12

Multiple Choice

The three principles that characterize TQM are continuous improvement, teamwork, and:

• A) third party certification
• B) delegation
• C) participative management
• D) customer focus and satisfaction
• E) distinctive competence

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Definitions:

Leveraged Buyouts (LBOs)

Transaction in which a firm’s publicly owned stock is acquired in a mostly debt-financed tender offer, and a privately owned, highly leveraged firm results. Often, the firm’s own management initiates the LBO.

Private Equity Groups

Firms that invest in private companies, often acquiring significant or controlling stakes, with the intention of improving performance and increasing value before eventually selling the investment for a profit.

Borrowed Money

Funds that have been obtained through loans or debt, which typically incur interest charges and are required to be repaid.

Competitive Strategy

Approaches that a company adopts to gain an edge over its competitors, such as cost leadership, differentiation, or focus strategies.