The way of doing business whose goal is to eliminate waste while satisfying the customer and providing a positive return to the company is:
A) Total quality management.
B) Managerial accounting.
C) Customer orientation.
D) Continuous improvement.
E) Lean business model.

Question

Quizplus · Accepted Answer

The lean business model is a methodology that aims to minimize waste while also satisfying customer needs and providing a positive return on investment. It focuses on reducing non-value-added activities, improving production efficiency, and maximizing resources. This approach is commonly used in manufacturing, but it can also be applied to other types of businesses. Total quality management, managerial accounting, customer orientation, and continuous improvement are all important concepts, but they do not specifically relate to the objective of eliminating waste in business operations.

The Way of Doing Business Whose Goal Is to Eliminate