Business principles Flashcards
1
Q
what is Corporate Governance
A
The system by which companies are directed and controlled.
2
Q
what is Quality Assurance
A
The quality assurance process helps a business ensure its products meet the quality standards set by the company or its industry.
3
Q
what is Quality Control
A
the process by which services/products are measured and tested to ensure they are as uniform as possible and meet a standard
4
Q
what is Internal Quality Standards
A
Help ensure that products and services are free from defects and deficiencies.
5
Q
what is Opportunity Cost
A
money or benefits lost by not selecting a particular option during the decision-making process
6
Q
what is Time management
A
The process of managing and organizing time spent on activities in a corporate structure
