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5 Written questions

5 Matching questions

  1. productivity
  2. industry
  3. small business
  4. total quality management (TQM)
  5. service firms
  1. a producing the largest quantity in the least time by using efficient methods and modern equipment
  2. b businesses that provide assistance to satisfy specialized needs through skilled workers
  3. c a commitment to excellence that is accomplished by teamwork and continual improvement
  4. d any business that is operated by one or a few individuals
  5. e all businesses within a category

5 Multiple choice questions

  1. firms that produce goods that are often used by other businesses or organizations to make things
  2. intangible products that result from a high degree of labor input and that satisfy consumer needs
  3. when an organization makes the right decisions in deciding what products or services to offer customers or other users
  4. the quantity, or amount, produced within a given time
  5. the parent company of a franchise agreement that provides the product or service

5 True/False questions

  1. empowermentrefers to the number of similar products that will be bought at a given time and price


  2. gross domestic product (GDP)the total market value of all goods produced and services provided in a country in a year


  3. franchiseea legal agreement between a company and a distributor to sell a product or service under special conditions


  4. entrepreneuran employee who is given funds and freedom to create a special unit or department within a company in order to develop a new product, process, or service


  5. ESOPpermits employees to directly own the company in which they work by allowing them to buy shares in it


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