The difference between sales and cost of goods sold is called:

Which of the following statements is TRUE with regard to the eight types of waste that must be eliminated to implement lean systems?

A) Jobs with excessive motion should be redesigned. B) Work-in-process inventory is the direct result of underutilization of employees. C) Manufacturing an item before it is needed helps an organization detect and reduce defects. D) Product damage and deterioration result from using expensive high precision equipment.

Which of the following scenarios represents intervention in crisis management?

a) government shuts an emission management company b) a media report publishes malpractices in a company c) company officials are informed about wide-spread defaults by employees in certain branches d) company officials communicate that actions are being taken to ensure stakeholder safety