Reducing waste in a methodical manner to optimize a process is known as ________.
Fill in the blank(s) with the appropriate word(s).
Answer: lean management
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Which of the following is one of the seven characteristics of organizational culture?
A. strategy orientation B. process orientation C. peer orientation D. outcome orientation
A department store utilizes different personnel for the main store (central business district) and for the suburban (regional shopping center) locations. The store utilizes a _____
a. geographic classification b. product classification c. functional classification d. combination organization chart
Which of the following actions is consistent with social responsibility and is not necessarily inconsistent with stockholder wealth maximization?
A. Selling a smokestack "scrubber" required by the firm's air pollution policy that is also mandated by law. B. Dumping effluent discharge into a river, where it ruins the drinking water of the community around the plant. The installation of machinery to treat the effluents is very expensive. C. Investing in a smokestack filter to reduce sulphur-dioxide emissions to decrease the tax being levied on the firm by the state for pollution it produces each year. D. Making a large corporate donation to the local community for funding a recreation complex that can be used by the firm's employees only. E. Consider taking over the competitor's business in an attempt to establish monopoly for its product in the market.
Arnold Tofu owns and operates a chain of 12 vegetable protein "hamburger" restaurants in northern Louisiana. Sales figures and profits for the stores are provided in the table below
Sales are given in millions of dollars; profits are in hundreds of thousands of dollars. Calculate a regression line for the data. What is your forecast of profit for a store with sales of $24 million? $30 million? Store Profits Sales 1 14 6 2 11 3 3 15 5 4 16 5 5 24 15 6 28 18 7 22 17 8 21 12 9 26 15 10 43 20 11 34 14 12 9 5