Describe total quality management, and list at least three of the four components of it that are used by organizations to implement it.
What will be an ideal response?
Total quality management (TQM) is a comprehensive approach, led by top management and supported throughout the organization, dedicated to continuous quality improvement, training, and customer satisfaction. The four components of TQM are as follows: 1. Make continuous improvement a priority. 2. Get every employee involved. 3. Listen to and learn from customers and employees. 4. Use accurate standards to identify and eliminate problems.
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Read the scenario. As you read, consider your position in relation to the ethical and legal forces at work, and then answer the question. You work for Holstead Communications, a midsized digital phone, cable, and Internet service provider in rural New Mexico. Your company has always provided customers with two billing options: paperless or traditional. As a cost-saving measure, the company has
decided to discontinue its traditional billing option. All customers who choose the traditional billing option will be charged a yearly billing fee of $25. This fee will offset printing and mailing costs of $600,000 annually. The CFO and legal team have determined that Holstead is not legally obligated to announce the fee increase to its customers. Therefore, to avoid customer loss, negative press, and a potential decrease in revenue, Holstead will not announce the new fee. Instead, customers with traditional billing options will see a $2.08 increase on their monthly bills. As a customer service representative, you understand the difficulties that the additional fee will pose for some customers. For example, you know that some of Holstead's older customers and customers who don't speak English won't be able to decipher the additional fee on their bills. You are uncomfortable with the choice that top management has made regarding billing fees. Despite your concerns, you know you will be up for promotion next month, and you have decided not to jeopardize your chances for advancement. This company's decision to add a hidden fee is _________. A. legal, yet unethical B. illegal, yet ethical C. legal and ethical Fill in the blank(s) with correct word
Consider the following requirements for a certain product
Period 1 2 3 4 5 6 7 8 Gross requirements 0 200 200 500 0 400 0 400 Beginning inventory = 500 units Setup cost = $500 per setup Lead time = 1 week Holding cost = $3 per unit per week a. Develop the lot-for-lot MRP table. b. Calculate the total relevant costs.
____________________ sources are forms of firsthand experience, such as interviews and observations.
Fill in the blank(s) with the appropriate word(s).
Compliance occurs when you agree internally with a decision, action, or request, are enthusiastic about it and are likely to exert unusual effort to carry it out.
Answer the following statement true (T) or false (F)