Which One of the Following Statements Is a General Principle

question 13

Multiple Choice

Which one of the following statements is a general principle of performance improvement?

• A) The priority is to benefit clients and internal customers.
• B) Quality is achieved through the participation of everyone in the organization.
• C) Improvement opportunities are focused on the work we do individually.
• D) Decisions to change or improve a system or process are based on intuition.

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Definitions:

Revenue Management

The use of analytics and data to predict consumer behavior, optimize product availability and pricing, and maximize revenue growth.

Differential Pricing

Differential pricing is a strategy where a company charges different prices for the same product or service in different markets or segments, based on factors like customer willingness to pay, market demand, or competition.

Supply Chain Surplus

The difference between the value generated by the final product to the end consumer and the costs involved in the supply chain.

Fashion Apparel

Clothing and accessories designed and manufactured according to current trends and styles.