The Philosophy of Producing a High-Quality Product or Service and Achieving

question 61

Multiple Choice

The philosophy of producing a high-quality product or service and achieving quality in every aspect of the business and its relationship with the customer, with a focus on continuous improvement in the quality delivered to customers is ________.

• A)total quality management, or TQM
• B)time compression management, or TCM
• C)bootstrap marketing
• D)customer experience management, or CEM

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Definitions:

Noncash Assets

Assets that are not in the form of cash or cannot be easily converted into cash, such as real estate, equipment, or inventory.

Noncash Assets

Assets that cannot be easily converted into cash, including property, plant, equipment, patents, and trademarks.

Gain or Loss

The financial result of transactions that leads to an increase (gain) or decrease (loss) in the capital of an entity, not related to its primary operations.

Capital Balances

The amount of funds that each partner or shareholder has contributed to a company, not including any profits or losses retained in the company.