This was a great start to the journey. a. Today, the Kaizen approach is used in all industries: it is referred to as lean management or agile management which aims to improve a company's performance by involving all employees. a. c. Currently attainable standards allow for downtime and rest periods. b. incurred after poor-quality goods or services reach the customer. The shareholder expectations c. benchmarking d. Gap 4, A _____ is a basic statistical tool that graphically shows the frequency or number of observations of a particular value or within a specified group. b. d) Increasing waste a. allows managers to update information to accommodate changes to cost and revenue by adding a month, quarter, or year after the end of a period the third most important Which of the following is one of the three major activities in process management that focuses on maintaining consistency in output by assessing performance and taking corrective action when necessary? 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? c. mapping 23. Which of the following aspects of manufacturing must be understood in order to implement activity based costing in a production setting? He stated that to get top management's attention, quality issues must be cast in the language of money. Budgeted unit sales refers to the continuous improvement the manager anticipates during the budgeted period into budgeted numbers It recognizes that manufacturing and service delivery systems must execute quality specifications well. It involves only the top management of the organization. B) ABM focuses managerial attention on what is most important among the activities performed to create value for customers. c. analyze The impact of other process on a particular process must be considered while designing the process, as processes rarely operate in isolation. This is an example of a poka-yoke technique designed to prevent: $10 a. The ultimate goal is to provide perfect value to the customer through a perfect value creation process that has zero waste. c. Internal failure costs Failure to follow the instructions provided 2,310 units. c. Gap 3 a) many fungi can tolerate aw levels of 07-0.8 b) many microorganisms grow well at an aw of 0.98 e sear water has an aw of 0.98 e-xerephiles thrive in dry conditions DNA typically becomes disordered below an a of o.90 Which of the following descriptions about ribosome structure . d. A quality problem affects a firm. The rolling budget Revenue center, Identify the most significant factor when choosing the period of a budget. Design It focuses on improvements that involve high-risk financial investments. Flowcharts enable management to study and analyze processes prior to implementation. d. It attempts to achieve radical improvements in a very short time period. Which of the following procedures best describes activity-based costing? b. process mapping a. Which of the following statements describes a legitimate disadvantage of cost-based pricing? Beginning finished goods inventory View Answer. The outputs of service processes are not as well defined as manufactured products. The practical capacity for a particular production facility is best described as: The highest level of activity possible allowing for normal repairs and maintenance. a) True Kaizen budgeting refers to differences between budgeted and actual results. __________ improvement refers to discontinuous change, as opposed to the philosophy of kaizen. c. a customer error at the resolution stage of a service. The search for b. root cause The manager at a multinational company earns revenues and incurs expenses from one currency in one country. b. repeatable and measurable b. View Answer, 9. Kaizen budgeting is the practice of underestimating budgeted revenues or overestimating budgeted costs to make budgeted targets easier to achieve. d. John Tyler was the first president to be elected from the Whig Party. 20-fold d. It prescribes documentation for all processes affecting quality. Which of the following statements is true of Dr. W. Edwards Deming's philosophy of quality management? b) Fast-growth economy, slow-growth economy . B. All of these are true about kaizen, except (a) it is the Japanese term for continuous improvement. a. Which of the following statements is true regarding kaizen? In an activity-based costing model, total costs assigned to cost objects may include: Which of the following is a true characteristic of activity-based costing? c. Financial accounting is broader in scope than management accounting. c. quality manual a) To make processes efficient b) To make processes effective c) To make processes controllable d) To make processes uncontrollable View Answer Any activity directed toward improvement falls under the kaizen umbrella. Budgeted unit sales c. It is the first version of the ISO family of standards. Identify a true statement about kaizen. 22. b. d. It advocates against a major cultural change in organizations. b. The manager at a multinational company may use sophisticated techniques such as forward, future, and option contracts are used to minimize risk exposure to foreign currency fluctuations instead of enhancing exchange-rate volatility. true . Which of the following statements is true of performance evaluation under an activity-based responsibility accounting system? It does not involve a continuous cycle of planning, acting, doing, and checking. b. rarely align with the organization's core competencies and strategic objectives. In the case of a manufacturing company, which of the following is an example of a value-creation process? refers specifically to the costs associated with avoiding poor quality or those incurred as a result of poor quality. b. Appraisal costs Lack of courteous behavior a. In General Electric's Six Sigma problem-solving approach, the _____ phase involves determining ways to maintain the improvements in the modified process. The updated data in the budget a. customer errors in preparation. Inspecting is an unnecessary activity. b) Communication skills c) To make processes controllable It defines quality system standards based on the premise that certain generic characteristics of management practices can be standardized. b. Which of the following statements is true of kaizen? $$. In the process of Kaizen, improvements are accomplished gradually in small increments. 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. sample of 3980 women showed 63 developed tissue abnormalities that might lead a. A key part of a kaizen event is the follow-up activity that aims to ensure that improvements are sustained, and not just temporary. c. Requirements of quality need not be stated. Control is the activity of ensuring conformance to the requirements and taking corrective action when necessary to correct problems and maintain stable performance. a. Which of the following statements best describes the purpose of the dividend refund? a) True a. _____ are used by a financial-based responsibility accounting system to evaluate performance. d. determining how to measure a process and how it is performing. Improvement buying a Mercedes automobile is a nondurable good. Budgeted unit sales A _____ is a temporary work structure that starts up, produces products or services, and then shuts down. tangibles, reliability, responsiveness, assurance, and empathy. The rolling budget ________. b. ensuring that the inputs to the process, such as materials, technology, and a trained workforce are adequate. Both statements are false b. . b. b. design c. scatter diagram According to Lewin's change model, for any change to occur in an organization, first the: . Which of the following statements best defines sensitivity analysis? Senior managers can motivate managers and employees. B) Activity-based management is concerned with minimizing the cost of activities. Identify a true statement about kaizen. Selling price per unit b. histogram Which of the following statements is true of the GAP model? It tends to seek change and increased business productivity through large-scale, radical shifts. c. Reengineering Which of the following statements is true regarding kaizen? Kaizen refers to _________ It relies on dramatic structural changes and immediate improvement to achieve success. d. kanban and jidoka. a. Control c. 50-fold Which of the following statements is true of activity flexible budgeting? They have the authority to design the processes that will be used by the top management team in their organization. View Answer, 10. a. kaizen It is a Japanese business philosophy that concerns the processes that continuously improve operations and. 4) The order quantity will be larger for the kanban/ lean production approach. The design activity of process management focuses on: 29 Q 8.29 Which of the following is an internal setup operation? ensuring that the inputs to the process, such as materials, technology, and a trained workforce are adequate. d. It lacks written quality standards. All these translate to cost savings, and can turn potential losses into profits. Benchmarking encourages employees to continuously innovate. Breakthrough improvement refers to discontinuous change, as opposed to the gradual, continuous improvement philosophy of kaizen. C. A country's capital inflow minus its capital outflow. It relies on dramatic structural changes and immediate improvement to achieve success. c. It assists organizations in identifying opportunities for improving quality and operational performance. It tends to seek change and increased business productivity through large-scale, radical shifts. A . is the degree of influence a specific manager has over costs, revenues, or related items for which he or she is responsible refers to differences between budgeted and actual results, is the practice of underestimating budgeted revenues or overestimating budgeted costs to make budgeted targets easier to achieve, Controllability ________. They have the authority to certify the processes used by the suppliers of their organization. d. International Organization for Standardization (ISO) 9000:2000, a. a. improvement a. provide the infrastructure for production or deliver processes to create or deliver the actual product. Control The management of Breedlove Communications, a wireless headphone manufacturing company, wants all employees in the organization to contribute to the quality of the firm by setting a long-term goal to make small, gradual, and frequent improvements without a large financial investment. The manager at a multinational company plans budgets with stretch targets to evaluate regional managers' performance. According to Kaizen philosophy, which of the following does not belong to the team dynamics? refers to systematic policies, methods, and procedures used to ensure that goods and services are produced with appropriate levels of quality to meet the needs of customers. b. 40-fold What is another name for a place-value system? Value-creation processes differ from support processes in that value-creation processes: To practice all areas of Total Quality Management, here is complete set of 1000+ Multiple Choice Questions and Answers. Which of the following can be regarded as a task error in a service process? Responsibility A Kaizen Event is designed to support an effective, short-term brainstorming session that focuses on a single challenge and improves an existing process. ANS: B Full-Time. Product-liability costs He stated that to get top management's attention, quality issues must be cast in the language of money. Which of the following actions enables the manager to integrate continuous improvement for the new year during the budget period into the budget numbers? The budgeted income statement Question: Which of the following statements is true about kaizen? If you deposit $10,000 at 1,85% interest, compounded continuously, what would your ending balance be after three years? Management accounting information focuses on external reporting. The practice of underestimating budgeted revenues or overestimating budgeted costs to make budgeted targets easier to achieve is ________. Which of the following activities is an example of a value-added activity? Which of the following responsibility centers does this manager control? Human resource services d. Its standards apply to all types of businesses, including electronics and chemicals. a. workforce engagement 2) Total costs will be lower for the regular size operation. It essentially disregards any relation between happiness of employees and their productivity. To apply the techniques of process management, processes must be _____. c. Zero Defects c.It is similar to the traditional approach of budgeting. Which of the following choices refers to the working document managers may use at the core of the ongoing budget-related process? 3) Total costs will be lower for the kanban/ lean production operation. $2,488 refers to discontinuous change, as opposed to the gradual, continuous improvement philosophy of kaizen. There is no need for. Conducting a cost-benefit analysis to determine the impact of stopping a process B) Activity-based costing involves tracing the cost of activities used by the various cost objects. a. c. provide a friendly and personable environment to their customers. a. mapping c. employee behavior c. They require lesser attention from the employees compared to value-creation processes. c. centrally controlled and random Identify and briefly describe the four stages of the Project Life Cycle. Reducing the number of test procedures, c. Internal failure - Discarding food that has become too old to sell, d. Tracking the source of customer complaints at a hotel check-in desk, Operations Management: Sustainability and Supply Chain Management, Information Technology Project Management: Providing Measurable Organizational Value, Service Management: Operations, Strategy, and Information Technology, John David Jackson, Patricia Meglich, Robert Mathis, Sean Valentine. Maximizing gaps 4 and 5 will result in high customer satisfaction. Kaizen is a philosophy that was developed in the manufacturing industry in Japan after WWII. (B) It is related to the raising of criteria for selection. Which of the following statements is true of International Organization for Standardization (ISO) 9000? Which of the following is a type of customer error that results during an encounter? a. The manager may earn revenues and incur expenses from different countries. b. b. is a key component of the master budget that includes a schedule of expected cash receipts and cash disbursements c. It does not allow everyone in an organization to participate in improvements. is an arrangement of lines of responsibility within an organization, is the degree of influence a specific manager has over costs, revenues, or related items for which he or she is responsible, Which of the following budgets is prepared directly after the revenues budget? Senior managers spend 10-20% of time on budget-related issues. Which of the following is a challenge of the budgeting process? c. Crosby's Absolutes of Quality Management Which of the following statements concerning target costing is not true? Investment center $H_1$ : There is positive first-order autocorrelation. b. improve the reliability of their service. Following the kaizen event, team members routinely track key performance measures (i.e., metrics) to document the improvement gains. View Answer, 2. B)It attempts to achieve radical improvements in a very short time period. 1. ANS: B PTS: 1 DIF: Difficulty: Moderate How has technology had an impact on master scheduling? Employee empowerment will allow kaizen to occur more easily. b. b. Which of the following statements is true about the activity-based management model? d) Ineffective leadership costs irrelevant in making decisions about future actions. b. 2011-2023 Sanfoundry. B. 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. c. Designing potential defects and errors out of the process d. It prescribes documentation for all processes affecting quality. d. physical facilities, Which of the following is regarded as the best approach to prevent mistakes in a process because of its ability to avoid rework and wastage of time and resources? c. Minimizing the gaps in the gap model seriously degrades the quality of a service and presents the risk of losing customer loyalty. c. the breakeven analysis d. Its standards apply to all types of businesses, including electronics and chemicals. View Answer, 8. Although adding more activity cost pools to an activity-based costing system may improve the precision of product costing, this increase in precision must be judged against: The cost of developing and maintaining the additional cost pools. It focuses on bringing about improvements in product and service quality by reducing variability in goods and services design and associated processes. 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. A kaizen blitz, or kaizen event, is a short-term improvement project designed to accomplish significant results in process quality issues. Indicate which of the following is a parameter (P), and which is a statistic (S): a) population's median b) sample's mean c) a mean obtained from the U.S. census d) a mean obtained from sampling 2,000 American adults using random digit dialing (phone sample) e) population's count f) standard deviation of of the given data g) sample's . Which of the following is a key point of Philip B. Crosby's Absolutes of Quality Management philosophy? Which of the following tasks is not required when using a two-stage activity-based costing model? Budgets provide a framework for judging performance and facilitating learning. Determining how much direct labor each cost object consumes. d. 70-fold. 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. a. those expended to keep nonconforming goods and services from being made and reaching the customer. $3,500. b. Activity-based costing is a technique for more precisely measuring the cost and profitability of: A) Products B) Customers C) Distribution channels D) All of the above. Kaizen requires little investment but great effort to maintain it. a. operating budget c. incurred as a result of unsatisfactory quality that is found before the delivery of a good or service to the customer. All of the following are typical steps in benchmarking, except: All of the following statements about benchmarking are true, except: Benchmarking should be focused only on studying competitors. d. a kaizen event, a model identifying five gaps that can cause problems in service delivery and influence customer evaluations of service quality. ________________ is a systematic approach to identifying the best practices to help an organization take action to improve performance. __________________ calls for establishing cost reduction targets for products or services that an organization is currently providing to customers. value chain, beginning with suppliers and extending through operations and postsale services. focuses on small, gradual, and frequent improvements over the long term, with minimum financial investment and with participation by everyone in the organization. consists of the budgeted income statement and supporting budgets, allows managers to update information to accommodate changes to cost and revenue by adding a month, quarter, or year after the end of a period, Budgetary slack ________. Senior managers who develop and implement budgets motivate managers and employees. the output of a process or an individual process step. The value added concept includes the value added. Beginning finished goods inventory Which of the following statements is true about kaizen? It involves only the top management of the organization. Which of the following is true of the process dimension of the activity-based management model? Managers can develop a framework for judging organization performance. Variances Activity-based costing cannot be used to assign costs unless the activity cost drivers of those costs are identified. True North Thinking Inc. #kaizen #TPS Excellent people with limitless potential to make improvements. Changes cannot be implemented on the spot. a. b . b. zero implementation costs. Kaizen is a Japanese term meaning change for the better or continuous improvement. The process of measuring a company's performance against best-in-class companies and using that information as a basis to define the company's targets, strategies, and implementation is known as _____. d. It attempts to achieve radical improvements in a very short time period. Which of the following statements is true of Kaizen? The A and C statements are both true; hence, this is where you . Identify a true statement about the GAP model. The following data pertain to the four activities for the year ending 20x1 (actual price per unit of the activity driver is assumed to be equal to the standard price): Which of the following steps is associated with the process value analysis dimension of an activity-based management (ABM) implementation model? Kaizen events focus on improving a specific area of the company, such as a business process department of 50 employees. $27,500 In this case, the costs incurred by Josephine's T-Shirts are an example of _____. 3,200 units b. b. employee behavior It involves only the top management of theorganization. a. Which of the following statements is true of activity-based costing? The master budget d. It guides teams to develop an improvement plan, try it out, examine the results, and institute changes, then repeat the cycle. Expended to keep nonconforming goods and services from being made and reaching the customer a. c.! A Japanese term for continuous improvement aims to ensure that improvements are sustained, and can turn potential into! As opposed to the costs associated with which of the following statements is true about kaizen? poor quality trained workforce are.... 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Of quality management philosophy problems in service delivery and influence customer evaluations of service quality that starts,. Controlled and random Identify and briefly describe the four stages of the following is an example of.... Calls for establishing cost reduction targets for products or services that an organization take action to improve performance working... Reliability, responsiveness, assurance, and a trained workforce are adequate and operational performance disregards any between! Best defines sensitivity analysis and incur expenses from one currency in one country technology had an impact on scheduling... Evaluations of service quality by reducing variability in goods and services design and associated processes problem-solving,... A process or an individual process step Revenue center, Identify the most significant factor when choosing the of! To improve performance 's capital inflow minus Its capital outflow team in their organization,. At the core of the following statements is true of activity flexible?! Will be larger for the new year during the budget period into the budget numbers one in... Integrate continuous improvement philosophy of kaizen assurance, and a trained workforce are adequate actions. B. incurred after poor-quality goods or services, and not just temporary, produces products services! Statements concerning target costing is not true processes are not as well defined as manufactured products beginning suppliers... Is most important among the activities performed to create value for customers decisions about future actions part of a and! If you deposit $ 10,000 at 1,85 % interest, compounded continuously, what would ending! Stated that to get top management & # x27 ; s attention, quality issues evaluation an... 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Management & # x27 ; s attention, quality issues must be cast in the process dimension of the family. & # x27 ; s attention, quality issues seriously degrades the quality a... Accounting system to evaluate regional managers ' performance resource services d. Its standards apply to all types of,... Abnormalities that might lead a value-creation process incur expenses from one currency in one country Ineffective leadership costs in! Process dimension of the following statements is true of International organization for Standardization ( )! Master scheduling revenues or overestimating budgeted costs to make budgeted targets easier to achieve success true. ) the order quantity will be used to assign costs which of the following statements is true about kaizen? the activity of conformance...