?Lower operating costs and higher return on sales and on investments are the benefits of
A. ?total quality management (TQM).
B. ?communication skills.
C. ?technical skill development.
D. ?financial oversight.
Answer: A
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Companies provide rewards to customers who buy often and in substantial amounts. These reward schemes are referred to as ________ programs
A) benefit B) frequency C) satisfaction D) profitability E) quality
When a firm varies the price of a product by the season, month, day, or even hour, without changing product features, it is using ________ pricing.
A) product form B) market-penetration C) market-skimming D) time-based E) value-added
Which of the following is NOT a step in running a Monte Carlo simulation?
A) setting up a probability distribution for important variables B) building a cumulative probability distribution for each variable C) establishing an interval of random numbers for each variable D) generating random numbers E) All of the above are steps in running a Monte Carlo simulation.
In the case of an insurance policy, ________ occurs when the existence of insurance encourages the insured party to take risks that increase the likelihood of an insurance payoff; ________ occurs when those most likely to get large insurance payoffs
are the ones who want to purchase insurance the most. A) moral hazard; insurance market discrimination B) moral hazard; insurance segregation C) moral hazard; adverse selection D) adverse selection; moral hazard