Managing with an Organization-Wide Commitment to Continuous Improvement, Product Quality

question 25

Multiple Choice

Managing with an organization-wide commitment to continuous improvement, product quality, and customer needs is called:

• A) a learning organization.
• B) operations management.
• C) management by objectives.
• D) total quality management.

---

Definitions:

Credit Customers

Individuals or entities that purchase goods or services on credit, agreeing to pay the seller at a later date.

Receipts Forecast

An estimate of the amount of money expected to be received over a certain period, often used in budgeting and financial planning.

Total Effective Tax Rate

The average rate at which an individual's or a corporation's pre-tax profits are taxed.

Inventory Turnover

A ratio that shows how many times a company's inventory is sold and replaced over a specific period, indicating the efficiency of inventory management.