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Likurg_2 [28]
3 years ago
8

Quality improvement programs such as Total Quality Management (TQM) and Six Sigma use a number of common tools for problem solvi

ng and process improvement. Many of these tools have been in use for many years in various quality improvement programs prior to their integration into TQM and Six Sigma. Common quality tools include flowcharts, check sheets, histograms, Pareto charts, scatter diagrams, run charts, control charts, and cause-and-effect diagrams. Common tools for generating ideas include brainstorming, benchmarking, and quality circles. In this exercise we examine these tools and how they are used for problem solving and process improvement. The basic steps in the TQM problem-solving process are:
Step 1) Define the problem and establish an improvement goal.
Step 2) Develop performance measures and collect data.
Step 3) Analyze the problem.
Step 4) Generate potential solutions.
Step 5) Choose a solution.
Step 6) Implement the solution.
Step 7) Monitor the solution to see if it accomplishes the goal.
Business
1 answer:
umka2103 [35]3 years ago
5 0

Answer:

Total Quality Management is the business strategy in which focus is made for the zero tolerance on the quality.

Explanation:

The business follow TQM approach for making its customers happy. They focus on customer preferences and try to continuously improve the production line for making the best product for its customers. TQM is focused on the best value and there is zero tolerance for any fault in the product. This creates value in the eyes of the customers and they stay loyal to the business.

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The marketing manager for Gillette razors is attempting to determine a sales estimate for the line of products that provide men
dusya [7]

Answer:

The correct answer is letter "A": company sales potential; market potential.

Explanation:

Company sales potential is the expected amount of sales of a company given a specific sector in the market. It is presumed that the company has carried out marketing strategies and investment for the levels desired to be achieved. In the example, that level is 20%.  

The market potential is the size of the market for a given product within a period of time. It is usually expressed in monetary terms since it expresses the number of sales value or volume during the period. In the example, that amount is $30 million dollars.

6 0
4 years ago
Edmund would like to buy stock. What should he do? A) He should visit the stock market, open an account, and purchase stock B)He
Igoryamba
D) He should choose a broker, open an account, deposit money, and communicate with the broker what stock he wants to buy.

8 0
3 years ago
Read 2 more answers
During its most recent fiscal year, Raphael Enterprises sold 360,000 electric screwdrivers at a price of $19.80 each. Fixed cost
Lynna [10]

Answer: Option (d) is correct.

Explanation:

Contribution margin = Fixed cost + Pretax Income

                                  = $1,296,000 + $1,656,000

                                  = $2,952,000

Variable cost = Sales - Contribution margin

                      = (360,000 units × $19.80 per unit) - $2,952,000

                      = $7,128,000 - $2,952,000

                      = $4,176,000

3 0
3 years ago
Northern Trail Outfitters (NTO) has created a new onboarding series for customers who have purchased its fitness tracker. Custom
choli [55]

Answer:

The correct answer is A

Explanation:

Personalized recommendations is the which is grounded on the behavior of the user or the customer. These are the items or the product which have been considered, viewed or purchased from one of the customers who is currently or presently considering.

So, NTO, who established the onboarding series which involves the personalized recommendations of the customer but lacks somewhere, therefore, best practice for achieving in the current situation is recommending personally to the customer.

6 0
3 years ago
General Forge and Foundry Company has a quick ratio of 2.00; $38,250 in cash; $21,250 in accounts receivable; some inventory; to
Vlada [557]

Answer:

The answer is General Forge and Foundry Company selling and replacing its inventory 2.55 times per year on average.

Explanation:

We have:

The company cost of good sold = Sales x 65% = 100,000 x 65% = $65,000

The company inventory = Total current asset - Cash - Account Receivable = 85,000 - 38,250 - 21,250 = $25,500

=> Inventory turn over ratio = Cost of good sold / Inventory = 65,000/25,500 = 2.55 times or the company is selling and replacing its inventory 2.55 times per year.

So, the answer is 2.55 times.

4 0
3 years ago
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