A number of terms are listed below:

Required:
Choose the term or terms from the above list that most appropriately completes each of the following statements:

1. A(n) _________________ is a game plan that enables a company to attract customers by distinguishing itself from competitors.
2. _________________ is a method that relies on customer feedback and objective data gathering and analysis techniques to drive process improvement.
3. A(n) _________________ is a series of steps that are followed to carry out some task in a business.
4. The system by which a company is directed and controlled is called _________________ .
5. The process used by a company to help identify the risks that it faces and to develop responses to those risks so that the company is reasonably assured of meeting its goals is known as _________________ .
6. A _________________ is a work space that takes employees and equipment from departments that were previously separated from one another and places them side-by-side.
7. The various groups of people, such as employees, customers, and suppliers, whose interests are tied to a company’s performance are called _________________  .
8. A(n) _________________ s anything that prevents an organization or individual from getting more of what it wants.
9. Increasing the rate of output of a(n) _________________ as the result of an improvement effort is unlikely to have much effect on profits.
10. A(n) _________________ consists of business functions that add value to a company’s products and services such as research and development, product design, manufacturing, marketing, distribution, and customer service.
11. _________________  is a concept whereby organizations consider the needs of all stakeholders when making decisions.
12. A management approach that coordinates business processes across companies to better serve end consumers is known as _________________ .
13. The _________________ is a five-step management approach that organizes resources around the flow of business processes and that units through those processes in response to customer orders.
14. A company can only succeed if it creates a reason for customers to choose it over a competitor; in short, a _________________ .
15. _________________ was enacted to protect the interests of those who invest in publicly traded companies.
16. A(n) _________________ consumes resources but does not add value for which customers are willing to pay.
17. The management approach that emphasizes the importance of managing constraints is known as the _________________ .