BUSINESS ADMINISTRATION
ACCOUNTING FOR MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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process benchmarking
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total quality management
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management by objectives
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management by exception
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Detailed explanation-1: -TQM’s objective is continuous improvement of principles like customer focus, process improvement and total involvement. Elements of TQM speak about leadership, education and training, support structure, communications, rewards and recognition, and measurement or metrics.
Detailed explanation-2: -Quality control is more focused on ensuring the current deliverable satisfies the quality standards set by the company and its customers. On the other hand, continuous improvement is focused on creating organizational and process changes to enhance how the product or service is developed and delivered.
Detailed explanation-3: -Total quality management is widely recognized as an effective method to achieve continuous quality improvement by enhancing the overall performance of an organization. It refers to the collection of efforts aimed at improving customer satisfaction using an integrated system of techniques, tools, and training sessions.
Detailed explanation-4: -Continuous improvement (sometimes known as “rapid improvement”) is a Lean improvement technique that helps to streamline workflows. The Lean way of working enables efficient workflows that save time and money, allowing you to reduce wasted time and effort.