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Pie
2 years ago
7

Define Total Quality Management. Explain how important of TQM in a coffee store chain and provide examples.

Business
1 answer:
Effectus [21]2 years ago
8 0

Answer:

Total quality management (TQM) is an ongoing process for manufacturing errors to be detected and minimized or eliminated, the management of the supply chain is simplified, customer experience improved and training for employees is up to date.

Explanation:

The overall quality management aims to ensure the overall quality of the final product or service is accountable to all the parties involved in the production process.

Comprehensive quality management is a continuous detection and eradication process. Total quality management (TQM).

It is used for streamlining supply chain management, improving customer service, and providing training for employees.

The goal is to improve the quality of the products and services of an organization by continuously improving internal practices.

Total quality management is intended to make all involved parties responsible for the overall quality of the final product or service in the manufacturing process.

TQM approach requires small companies to understand (and are) their existing customers, to recognize and keep these expectations at the forefront of their strategy and processes. TQM approach This principle should also apply to internal customers who treat employees like customers and meet their demands.

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Explain why supply and price are positively related
pishuonlain [190]

Answer:

see below

Explanation:

A positive correlation signifies that an increase in one variable results in the other variable moving in the same direction. Because supply and price are positively correlated, a price increase will increases supply. The opposite is also true.

Suppliers are business people whose main objective is to make profits. Higher prices give higher margins. Suppliers make higher profits when prices are high. The possibility of making higher profits motivates suppliers to increase supplies to the market. On the other hand, low prices may result in losses. When prices are low, supplies will shy away from the market to avoid making losses.

6 0
2 years ago
3<br>Hame and explain<br>of skills that should be possess by an entrepreneur <br>​
vaieri [72.5K]

Answer:

1. Curiosity. Great entrepreneurs are tasked with identifying new problems, identifying potential niche opportunities, refactoring their existing business processes, and innovating. This necessitates a passion for various fields of study and business cases that are outside of one's comfort zone.

2. Time management. Prioritization, milestone definition, execution, and iteration are all critical. None of this would be possible without the proper project management and time allocation methodologies in place to complete the work.

3. Strategic thinking. Learning to break down a problem to its simplest components and identify growth opportunities. Inventive problem-solving and spotting the low-hanging fruit. Defining an MVP's scope and testing concepts in a short amount of time and on a tight budget.

7 0
2 years ago
John d. rockefeller stands out among nineteenth-century business leaders because of his?
rosijanka [135]

John d. Rockefeller stands out among nineteenth-century business leaders because of his innovative organization called vertical integration.

<h3>What is vertical integration?</h3>

Vertical integration is a procedure that entails acquiring corporate operations in order to produce the same thing.

  1. When a business chooses vertical integration, they typically have control over some phases of product production and delivery.
  2. Vertical integration can also be defined as the union of businesses engaged in the same line of work but at various stages of production or distribution.
  3. For instance, because it involves many phases in its business, Amazon might be classified as one of the organizations with vertical integration.
  4. In addition to acting as a platform for buyers and sellers, Amazon also has its own distribution network and sells some of its own goods and services.

To learn more about vertical integration, visit:

brainly.com/question/13962641

#SPJ4

5 0
1 year ago
You are offered a chance to buy (cash outflow) an asset for $200,000 that is expected to produce cash inflows of $100,000 at the
madreJ [45]

Answer:

15.65%

Explanation:

The computation of the internal rate of return is shown below:

Given that

Years        Cash outflow/ cash inflow

0                 -$200,000

1                   $100,000

2                 $77,000

3                  $52,000

4                 $40,000

The formula is

= IRR()

AFter applying the above formula, the internal rate of return is 15.65%

7 0
2 years ago
The Talley Corporation had taxable operating income of $455,000 (i.e., earnings from operating revenues minus all operating cost
guapka [62]

Answer:

a. What is the firm’s taxable income?

387.500

b. What is the tax expense?

81.375

Explanation:

You first need to determine Talley's taxable income:

Income after operating costs: $455,000

Less: Interest Expense             -$70,000

Plus: Taxable Dividends Received 2,500

                               .

Taxable Income:                         387.500

Federal tax rate                21%      

Tax expense                                    81.375

4 0
2 years ago
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