2,110 units a. a. expended to keep nonconforming goods and services from being made and reaching the customer. Selling price per unit Q. KAIZEN is one of effective method to promote PQCDSMI. Product-liability costs b. Which of the following statements best describes the purpose of the dividend refund? An aggregate of several related action plans that have been designed to accomplish a mission within a specified time period is known as (A) Project Profit center is the difference between actual results and budgeted amounts A process is a sequence of linked activities that is intended to achieve some result, such as producing a good or service for a customer within or outside the organization. Which of the following statements is true about kaizen? Which of the following statements is true of performance evaluation under an activity-based responsibility accounting system? d. Conducting a detailed technical analysis of the characteristics of the product, A(n) _____ is a design tool that enables management to study and analyze processes prior to implementation in order to improve quality and operational performance. c. Scatter diagrams b. appraisal costs Budgeted unit sales Question 2. d. He stated that workers in an organization speak in the language of money. Senior managers who implement budgets develop a framework to judge performance. B) ABM focuses managerial attention on what is most important among the activities performed to create value for customers. The value added concept includes the value added. Moreover, it means continuing . b. improve the reliability of their service. Which of the following statements is true of Gap 3 in the GAP model? b. C) Activity-based costing involves determining the cost of activities. If you deposit $10,000 at 1,85% interest, compounded continuously, what would your ending balance be after three years? c. maintaining consistency in output by assessing performance and taking corrective action when necessary. The A and C statements are both true; hence, this is where you . The outputs of service processes are not as well defined as manufactured products. b. d. are driven by external customer needs. 2,500 units a. The Kaizen philosophy challenges the statement of "that's just the way we do things." Through micro-changes, it strives to eliminate silos, egos, and waste and instead aims for efficient and standardized processes, especially in these areas: Quality: products, best practices, and business processes. b) Constant improvement, innovation Which of the following responsibility centers does this manager control? operating budget Appraisal costs Scrap and rework costs d. production. A "what-if" technique that examines how a result will change if the original predicted data are not achieved or if an underlying assumption changes Further, assume that during March machines were setup 20 times to make product X5. 2,310 units. _____ is the first stage of personal change. 40-fold d. Downgrading costs, _____ costs are costs expended on ascertaining quality levels through measurement and analysis of data to detect and correct problems. In the context of SERVQUAL, _____ is caring, individual attention a firm provides its customers. $27,500 Any activity directed toward improvement falls under the kaizen umbrella. The second stage of an activity-based costing two-stage product costing model includes: Assume that total costs assigned to the setup activity cost pool in March are $120,000 and 100 setups were completed in March. d. It guides teams to develop an improvement plan, try it out, examine the results, and institute changes, then repeat the cycle. a. improve the efficiency and timing of their service. C. A country's capital inflow minus its capital outflow. A kaizen blitz is an improvement initiative that is gradual and continuous and is performed on a part-time basis. a. The manager may earn revenues and incur expenses from different countries C)It requires very large financial investments. c. generally do not add value directly to the product or service. a. Senior managers spend 10-20% of time on budget-related issues. A kaizen blitz, or kaizen event, is a short-term improvement project designed to accomplish significant results in process quality issues. d. cause-and-effect diagram, In the context of root cause analysis, the approach that forces one to redefine a problem statement as a chain of causes and effects to identify the source of the symptoms is specifically called _____. . n=50, k=2, d=1.38 The manager at a multinational company may enhance exchange-rate volatility by implementing forward, future, and option contracts. Assembly of products in a manufacturing plant is an example of a support process. (D) It is a people driven activity. d. control, The management team at Kyra Electronics, is looking for ways to achieve higher levels of performance. Which of the following statements is/ are true? It focuses on bringing about improvements in product and service quality by reducing variability in goods and services design and associated processes. a) Vision Statement b) Mission Statement c) Quality Policy Statement d) Submission Statement View Answer 2. b. b. do not add value directly to the product or service. a. d. Job enrichment. To apply the techniques of process management, processes must be _____. View Answer, 8. Process control is the responsibility of those who directly accomplish the work. ANS: B PTS: 1 DIF: Difficulty: Moderate c. He never defined or described quality precisely. Changes cannot be implemented on the spot. c. Public relations refers to discontinuous change, as opposed to the gradual, continuous improvement philosophy of kaizen. Which two of the following terms refer to finding and correcting defects as they occur? d. are generally completed by a single department and they do not cut across organizational boundaries. d. ISO. The production budget Cost center Which of the following statements is true about the activity-based management model? a. John Adams was the United States' second president. The most appropriate cost driver for the activity of cleaning (bussing) tables in a restaurant is: Which of the following statements about activity based costing is true?Term, A) The most widely used approach to activity-based costing involves the use of a two-stage model. Identify and briefly describe the four stages of the Project Life Cycle. b. customer errors during an encounter. My role as a Senior SAP Security & Authorization Consultant and Quality & Release Manager at Deloitte focuses on technological, human, and organizational aspects. d. affinity diagram. 20-fold Control is the activity of ensuring conformance to the requirements and taking corrective action when necessary to correct problems and maintain stable performance. c. It is the first version of the ISO family of standards. b. All of the following are true of currently attainable standards EXCEPT. b) The Project priority matrix is best used in the analyze phase of DMAIC. Which of the following is TRUE of Kaizen budgeting? Which of the following is the first step involved in designing a manufacturing process? "KAIZEN means improvement. b. flowchart . ________________ is a systematic approach to identifying the best practices to help an organization take action to improve performance. a. kaizen program c. the breakeven analysis _____ are costs expended to keep nonconforming goods and services from being made and reaching the customer. This set of Total Quality Management Multiple Choice Questions & Answers (MCQs) focuses on Continuous Process Improvement Kaizen. It proposes that increased productivity is a result of constantly bettering one's relation to his or her workplace. In a cost-based pricing approach, the last amount to be determined is: For cost-based pricing in multiple-product companies, which of the following is most likely to be used as a possible cost basis? We ensure each client benefits from the expertise of our entire firm. As with many strategies involved in Lean and Six Sigma, the governing idea behind a Kaizen Event is focus and speed. The purpose of the budget The term is translated as "positive change." It is the idea that continuous improvement is both necessary and possible. b. c. Process mapping a. confirming the key variables and quantifying their effects on the critical-to-quality characteristics. b. c. flexibility After-action review or debrief is a process control approach used by organizations to: a. b. SERVQUAL dimensions of service quality performance. Gap model A)It involves only the top management of the organization. 310 units d. control. Which one of the following statements is TRUE? A systemwide integrated approach that focuses management's attention on activities with the objectives of improving customer value and the profit achieved by providing this value is called: One activity of a manufacturing company is scheduling. c. mapping a. customer errors in preparation. b. Since introducing this term as a systematic approach to business improvement, companies that implement KAIZEN have continually yielded superior results. Which of the following is not an aspect of Kaizen philosophy? $2,512 ______________ is when the product loses market acceptance. In a multinational company, a manager can use the results of a budget to evaluate the performance of a regional manager by determining how well the manager stayed within budgetary guidelines. d. Increasing variation in cash flow, Josephine's T-Shirts faced a lot of complaints from customers when its recent batch of long-sleeved shirts was dispatched. a. mapping a. Units of finished goods to be produced d. It helps organizations to increase employee morale and commitment to the organization. b. identifying customers and their priorities. d. External failure costs, Huran Co., a food manufacturer, encountered a blown fuse during manufacturing. View Answer, 7. . d. external failure costs. Following the kaizen event, team members routinely track key performance measures (i.e., metrics) to document the improvement gains. c. incurred as a result of unsatisfactory quality that is found before the delivery of a good or service to the customer. Activity-based costing systems tend to _____________________ high-volume, low-complexity products. A Six Sigma project _____________________ is defined as the identification and selection of activities to maximize the value of the activities while minimizing their cost from the perspective of the final consumer. Suppliers include only those companies that provide materials and components that are required for manufacturing a product. 22. The atomic mass of bromine is reported in the periodic table as 79.90479.90479.904 atomic mass units. a. d. Failure to understand the role in the service transaction. D) All of the above statements are true. Which of the following statements is true of process value analysis? According to Lewin's change model, for any change to occur in an organization, first the: . a. Dynamic When cost-based pricing is employed and markup is based on manufacturing costs, the markup must be sufficiently large enough to: Cover selling expenses, administrative expenses, and provide for the desired profit. Gap 1 Which of the following tasks is not required when using a two-stage activity-based costing model? c. It was founded in 1894. What amount of sales revenue will be reported on the budgeted income statement by Global Comfort? KAIZEN will expose . Beginning finished goods inventory B) Just-in-time (JIT). Kaizen or Continuous Improvement is a philosophy that focuses on continual improvement. The Kaizen philosophy requires a significant cultural change from all employees in the organization including the top management. The language of JIT includes many terms. Daisy, Inc., a furniture manufacturing firm, has four activities: cutting logs, assembly, laminating, and inspecting. Value-creation processes differ from support processes in that value-creation processes: b) False In the case of a manufacturing company, which of the following is an example of a value-creation process? It helps organizations to segment customers into natural groups in order to customize products that are better able to meet customers' needs. is the degree of influence a specific manager has over costs, revenues, or related items for which he or she is responsible $H_1$ : There is positive first-order autocorrelation. Foreign demand for a country's currency minus foreign supply. c. It requires very large financial investments. A) There is a weak correlation between the two variables. 1. A) Activity-based management is concerned with maximizing the value of activities. It involves only the top management of the organization. c. decrease the time required for completing a process. It involves only the top management of the organization. Kaizen means "continuous improvement" or "change for the better." Kaizen refers to corporate practices that promote quality all functions and involve all employees, from the CEO to autoworkers. The rolling budget When a service ranks low on the dimensions of customer contact, labor intensity, and customization, the service providers need to emphasize on _____ to provide a high quality service to the customers. Which of the following is TRUE of Kaizen budgeting? d. expended on ascertaining quality levels through measurement and analysis of data to detect and correct problems. View Answer Q: 7) Kaizen is a Japanese term meaning: A) Mistake proofing. Time-consuming. Investment center Employee empowerment will allow kaizen to occur more easily. Senior managers can motivate managers and employees. Which of the following is a reason why process management is important for organizations? Which of the following statements is true of Dr. W. Edwards Deming's philosophy of quality management? Kaizen costing . Which of the following is a type of customer error that results during an encounter? the search for industry best practices that lead to superior performance. d. It lacks written quality standards. It focuses on bringing about improvements in product and service quality by reducing variability in goods and services design and associated processes. Senior managers who develop and implement budgets motivate managers and employees. Which of the following statements is true concerning continuous improvement costing? (b) it is part of TQM. A) ABM is concerned with how to effectively and efficiently manage activities and processes to provide value to the final consumer. Working on the wrong order c) Conflict resolution The following budgeted information relates to McKensie Spice Corporation: The following budgeted information relates to Green Power Inc.: Which of the following statements is TRUE of budgeting benefits? Processes must be measurable and repeatable in order to apply the techniques of process management. the output of a process or an individual process step. b. Deming philosophy a. flowchart a. women out of 1000 in this population who have tissue abnormalities. This was a great start to the journey. There is no need for. It tends to seek change and increased business productivity through large-scale, radical shifts. In a competitive environment, cost-based approaches decrease the time and cost of bringing new products to market. c) Discontinuous improvement, constant improvement B. 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