expand MBE, TQM and JIT
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All three terms are related to various aspects of management. Their expansions are as follows:
* MBE – Management By Exception
* TQM – Total Quality Management
* JIT – Just In Time
Management By Exception is related with bringing out key deviations from a plan or budget to the management’s attention.
Total Quality Management refers to the action taken by the management for long-term success through the satisfaction of its customers.
Just In Time is a strategy adopted in inventory maintenance and is involved with procuring the goods for the business only when they are needed for production, thereby increasing the efficiency.
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Well, regarding the business and management the expand form of these will be as :
MBE: Management by exception ( It is actually about the management attention only for the large and major deviation in the plan or the budget)
TQM : Total quality management ( as the name indicates it is about the quality so it is a approach which is managing the things in order to satisfy the customer).
JIT : Just in time ( It is actually the plan or strategy for increasing the efficiency).
MBE: Management by exception ( It is actually about the management attention only for the large and major deviation in the plan or the budget)
TQM : Total quality management ( as the name indicates it is about the quality so it is a approach which is managing the things in order to satisfy the customer).
JIT : Just in time ( It is actually the plan or strategy for increasing the efficiency).
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