FUND.ACCT.PRIN.-CONNECT ACCESS
FUND.ACCT.PRIN.-CONNECT ACCESS
25th Edition
ISBN: 9781260780185
Author: Wild
Publisher: MCG
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Chapter D, Problem 1QS
To determine

Concept Introduction:

Lean Business Model − A Lean Business Model is a model or a strategy that focuses on the consumers needs and ignores the unwanted part that might spoils the strategy to attract customers towards the business.

Lean Business − A Lean Business is an approach of getting better accountability and profitability by proper planning and managing of the business model.

Traditional Business − A Traditional Business form is an old way of getting customer to their store and then sells services or goods to the one who has approached.

Identification of a Lean and the Traditional form of the businesses

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Explanation of Solution

    ParticularsBusiness Form
    Production begins with sales forecastsLean Business
    Uses "pull' productionLean Business
    Aims for zero defectsTraditional Business
    Uses large batch sizesLean Business
    Quality is controlled at each processLean Business
    Uses just-in-time inventory systemsTraditional Business

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