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.

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Definitions:

Markup Percent

The percentage added to the cost price of goods to cover overhead and profit, determining the selling price.

Large Screen Televisions

Televisions with a diagonally measured screen size typically larger than 55 inches.

Dollar Markup

The difference between the cost of a product and its selling price, expressed in dollar terms.

Dealer's Cost

The actual cost to a dealer for the products they sell, often excluding additional expenses like marketing or transport.