Total Quality Management (TQM)

question 49

Multiple Choice

Total quality management (TQM)

• A) is a philosophy of managing a set of business practices that emphasizes continuous improvement in all phases of operations, 100% accuracy in performing tasks, involvement and empowerment of employees at all levels, team-based work design, benchmarking, and total customer satisfaction.
• B) is a valuable tool for helping company managers identify what the best practice is for performing a particular activity.
• C) works best when used in conjunction with Six Sigma quality control techniques.
• D) is an excellent tool for reengineering business processes and making quantum gains in the efficiency and effectiveness with which the processes are performed.
• E) is a philosophy of doing things that aims at mistake-free management of a company's entire business.

Understand how group cohesiveness can contribute to or mitigate risks of groupthink.

Gain insight into theories explaining group polarization.

Acquire knowledge on the symptoms of groupthink and how it leads to defective decision-making.

Understand the foundational theories and phenomena related to social psychology and group dynamics, including Triplett’s study on competition and Allport's concept of social facilitation.

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Definitions:

Personal Interests

Individual hobbies, passions, and activities outside one’s professional life that provide personal satisfaction and joy.

Entrepreneurs

Individuals who create, launch, and manage new businesses, often taking on significant financial risks in the hope of profit.

Angel Investor

An affluent individual who provides financial backing for small startups or entrepreneurs, often in exchange for ownership equity.

Venture Capitalist

An investor who provides capital to startup companies and small businesses with long-term growth potential.