A Management Concept Based on an Understanding of the Changing

question 81

Multiple Choice

A management concept based on an understanding of the changing wants and needs of customers,and which leads to flexible product designs and production processes,is called:

• A)Continuous improvement.
• B)Customer orientation.
• C)Just-in-time.
• D)Theory of constraints.
• E)Total quality management.

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Definitions:

Specific Goals

Clearly defined, measurable, achievable, relevant, and time-bound objectives that individuals or organizations aim to accomplish.

Cost Leadership Strategy

A business strategy aimed at becoming the lowest cost producer in an industry, often leading to competitive pricing.

Rivals

Individuals, teams, or entities competing against each other, striving for the same objective or superiority in the same field.

Global Integration

The process of interconnecting the world's economies, cultures, and populations through cross-border trade and communication.