The Kaizen Philosophy Holds That

question 14

Multiple Choice

The kaizen philosophy holds that:

• A)once an improvement is implemented,no other improvements are necessary.
• B)small improvements made continuously over time accumulate into a radically reshaped and improved process.
• C)major improvements made continuously over time accumulate into a radically reshaped and improved process.
• D)None of the above

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Definitions:

Fixed Cost

Expenses that do not change with the level of production or output within a certain range or period.

Variable Cost

Costs that vary directly with the level of production or output, such as materials and labor.

Operating

The day-to-day activities or functions necessary for a business or organization to run effectively and efficiently.

Competitive Market

A market structure characterized by many buyers and sellers, free entry and exit, and a product for which there are many substitutes.