Organizations Applying for the Baldrige Award Are Judged on ________

question 21

Multiple Choice

Organizations applying for the Baldrige Award are judged on ________.

• A) customer and market focus
• B) leadership and strategic planning
• C) process management and human resources focus
• D) All of the above.

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Definitions:

New Technology

The development and application of innovative tools, machines, techniques, and methods that improve the efficiency and productivity of operations.

Natural Monopolies

Industries where a single firm can supply a good or service to an entire market at a lower cost than two or more firms could, often due to economies of scale.

High Set-up Costs

Initial investments or expenses that are necessary to start a business or manufacturing process, which can act as a barrier to entry for new firms.

Industry

A sector of the economy that produces a specific type of goods or services, characterized by shared production processes or products.