The Objective of Layout Strategy Is To

question 269

Multiple Choice

The objective of layout strategy is to:

• A) minimize cost.
• B) develop an effective and efficient layout that will meet the firm's competitive requirements.
• C) maximize flexibility.
• D) minimize space used.
• E) maximize worker satisfaction.

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Definitions:

Universal Spirit

A concept referring to an all-encompassing, omnipresent spiritual presence or force believed to exist throughout the universe.

Hegel

A German philosopher of the late Enlightenment period, known for his dialectical method and his contributions to absolute idealism.

Adam Smith

An 18th-century Scottish economist and philosopher known as the father of classical economics, best known for his works "The Wealth of Nations," which outlines the basis for free market economics.

Invisible Hand

A term used by Adam Smith to describe the self-regulating nature of the marketplace, where individual self-interest can lead to beneficial social outcomes.