According to The American Society for Quality, what features are necessary for TQM?
What will be an ideal response?
ASQ introduced total quality management as an all-encompassing, quality-focused approach that is characterized by three features.
1. The program is customer driven. The customers' needs and wants are the core drivers.
2. It emphasizes organizational commitment. Management leads, but the entire organization participates.
3. It focuses on a culture of continuous improvement. The program is much more than a one-off effort.
You might also like to view...
The following information was obtained from the financial statements of Dow Corp (in millions): Calculate the inventory turnover in days for the Dow Corp
a. 81.1 b. 5 c. 102.7 d. 146
z is a standard normal random variable. Compute the following probabilities.
a.P(-1.23 
z
2.58)b.P(1.83 
z
1.96)c.P(z
1.32)d.P(z
2.52)e.P(z
-1.63)f.P(z
-1.38)g.P(-2.37 
z
-1.54)h.P(z = 2.56)
What will be an ideal response?
Mobile portals are accessible via mobile devices
Indicate whether the statement is true or false
Penagos Corporation is presently making part Z43 that is used in one of its products. A total of 5,000 units of this part are produced and used every year. The company's Accounting Department reports the following costs of producing the part at this level of activity: Per UnitDirect materials$1.10Direct labor$3.10Variable overhead$6.90Supervisor's salary$5.80Depreciation of special equipment$5.20Allocated general overhead$5.60An outside supplier has offered to produce and sell the part to the company for $20.80 each. If this offer is accepted, the supervisor's salary and all of the variable costs, including direct labor, can be avoided. The special equipment used to make the part was purchased many years ago and has no salvage value or other use. The allocated general overhead represents
fixed costs of the entire company. If the outside supplier's offer were accepted, only $4,000 of these allocated general overhead costs would be avoided.In addition to the facts given above, assume that the space used to produce part Z43 could be used to make more of one of the company's other products, generating an additional segment margin of $24,000 per year for that product. What would be the annual financial advantage (disadvantage) of buying part Z43 from the outside supplier and using the freed space to make more of the other product? A. $24,000 B. $8,500 C. ($10,500) D. ($58,500)