Managing quality helps build successful strategies of "differentiation, low cost and response".
<u>Answer:</u> Option C
<u>Explanation:</u>
The expression of supervising all operations and activities necessary to maintain the rate of competence required, thus understood as "Quality management". It involves defining a performance policy, establishing and enforcing quality scheduling and expectation, as well as quality control and enhancing quality.
In order to attract market, launch of unique product is necessary with pocket friendly price and good quality too. When quality is managed more according to the market need than the owners capability of finance, then only growth of firm is possible, thus quality of product should not be compromised.
Answer:
(D) are more heterogeneous and less standardized and uniform
Explanation:
Since services have greater heterogeneity, there is some variability of inputs and output in services, so they tend to be less standardized and uniform than goods.
Answer:
FV= $6,124.46
Explanation:
Giving the following information:
You plan to save $1,400 for the next four years, beginning now, to pay for a vacation. If you can invest it at 6 percent annually,
Annual deposit= $1,400
Number of periods= 4 years
Interest rate= 6%
<u>To calculate the future value, we need to use the following formula:</u>
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
FV= {1,400*[(1.06^4) - 1]} / 0.06
FV= $6,124.46
Answer:
(a) Assumption
(b) Cause and Effect
(c) Cause and effect
(d) Assumption
Explanation:
(a) People behave rationally: Assumption
Rational behavior refers to a decision-making process that is based on making assumptions that result in an optimal level of benefit or utility.
(b) Cause and Effect
If a price of goods falls that is a cause and the effect is that people will consume more of the good.
(c) Cause and effect
As the population grows faster than food supply (cause), mass starvation is predicted to occur which is the resultant effect.
(d) Assumption
The maximization of profit is based on the assumption of theory of production and costs.
Given that Terin's employees have set their objectives in the company, the next thing that Terin expects from these employees would be to develop action plans.
Option D is the correct answer to this question. The action plans are sets of strategies that the employees have laid out that would help them to achieve their goals and objectives.
In order to do this, they have to make up lists of the things that they want to achieve in the firm and also list the strategies that they would employee to achieve them.
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