Lean Management primarily aims to:
AMaximize profits only
BMinimize costs only
CMaximize customer value while minimizing waste
DEliminate employees to save resources
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Related Questions:
Which of the following statements accurately describe Quality Management?
- Quality Management is a process focused solely on inspecting final products for defects.
- It is a comprehensive process of overseeing all activities to ensure a desired level of excellence in products, services, and processes.
- Quality Management is a narrow, reactive process focused on finding and fixing problems after they occur.
- It is a broader concept than Total Quality Management (TQM), encompassing both the end result and the means to achieve it.
According to the Contingency Approach, what is a key characteristic differentiating it from earlier management theories?
- It focuses on finding universal rules that apply to all organizations.
- It acknowledges that a particular management action is valid only under specific conditions.
- It largely ignores the impact of the external environment on organizational effectiveness.
- It promotes a standardized organizational structure for all businesses.
What is the role of the environment in the Systems Approach to Management?
- The environment is a self-contained entity that has no impact on the organization's internal workings.
- The environment provides the necessary inputs for the organization and receives its outputs.
- Environmental factors such as market competition and government regulations are irrelevant to the organization's success.
- The organization operates in isolation from its environment.
Identify the correct statements regarding the Systems Approach to Management.
- It emerged before the behavioral management theories.
- It emphasizes the interconnectedness and interdependence of organizational parts.
- It views the organization as a collection of isolated departments.
- Norbert Wiener was a key proponent of this approach.
Identify the correct statements regarding the key elements of Quality Management.
- Quality Planning involves defining quality goals, standards, and the methods to achieve them.
- Quality Assurance (QA) is a reactive process that inspects products to find defects.
- Quality Control (QC) is a proactive approach aimed at preventing defects by focusing on the entire quality system.
- Quality Improvement is a continuous effort to enhance processes and products.