China Dynasty Study Guide Objective Exam

A U.S. company begins selling its products in France. Despite brisk sales, the company doesn't make enough profit to cover its expenses. When setting prices, the company simply used the same prices in both countries. For example, $5.99 = 5.99 French francs; $2.89 = 2.89 French francs. What risk of international business did the company not consider?

Currency fluctuation

Mary is a bagger at Glen's Market. On a weekly average, she works 30 hours and fills 876 bags of groceries. Her productivity is ___________ bags of groceries per hour.

29.2

If three employees each work 35 hours a week and produce a total of 9,765 items, what is their total hourly productivity level?

93

What is process orientation?

A focus on how things are done rather than just the outcomes

What is quality?

Excellence

What is a likely result when workers' wages rise throughout the economy while productivity decreases?

Inflation

Describe potential consequences of failing to focus on quality control.

It could result in people not wanting to buy products or product recalls.

What is the Taguchi method?

It focuses on design, research, and development of a product rather than manufacturing

Describe the differences between Big Q and Little Q

Little Q is the old way of thinking, it confirmed that manufacturing processes and end product conform to specifications Big Q is the new way of thinking, it focuses on ingraining quality into everything and exceeding customer needs

What is process performance management?

Supervision of manufacturing products to ensure efficiency

What is the effect on society of a falling growth rate in productivity?

The standard of living drops

Why should productivity be measured?

To see whether the business's objectives are being met

What is concurrent engineering?

Where stages of a product are performed simultaneously

What kind of strike occurs when the members of a union local stop work without the consent of their national organization?

Wildcat

What is ISO-9000?

a set of quality management standards used by organization

What is continual improvement

a strategy where organizations continuously evaluate their business process to make it more efficient

a. Cause-and-effect diagram b. Scatter diagram c. Check sheet d. Flow chart e. Histogram f. Pareto chart g. House of quality matrix h. Statistical quality control

a. Predicts future problems b. two variables used to determine cause and effect c. a form that collects data on the spot d. analyze a sequence of events e. a bar graph f. bar graph that aids in quality management by helping to determine which problems need the most immediate attention g. determine if a product meets customer needs h. evaluate quality and identify problems

To reduce the chance of investigations and orders to cease production, businesses should

adhere to government regulations

When management and union leaders negotiate but cannot reach an agreement, either one may call for a(n)

arbitrator.

The highest level of labor union organization is the

federation.

The formula that is generally used to measure productivity is

goods divided by time.

What is lean production?

it focuses on maximizing customer value while minimizing waste

The young children's section of a U.S. amusement park features cartoon characters from a German TV show. Although the amusement park signed an agreement and paid a fee to display images of the cartoon characters, the TV show doesn't own or manage the park in any way. This is an example of

licensing.

When union members of Local 654 arrived at work today, they found a sign on the door stating that the business had closed temporarily and the employees were not allowed to work. This is a pressure strategy known as a(n)

lockout.

A country's standard of living can be calculated by dividing the goods and services its people have by

population.

Dividing the dollar value of total sales by the cost of making those sales is one way that businesses often measure their

productivity.

One way for a business to increase productivity is to increase its...

research and development

The overall objective of workers who form labor unions is to

strengthen their bargaining power.

To see whether the business's objectives are being met

training and education