27 May estion 1. Complete Problem 14.1 on page 290 of the course text. Next,
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2. Complete Problem 16.4 on page 329-330 of the course text . Next work the problem again using the following variables: The selling price is expected to be £350 per tonne for the first three months and £360 per tonne thereafter. Variable costs per tonne are predicted as £100 in the first quarter, £120 in the second quarter, and £130 in the last two quarters; and salary and wages do not increase in the last two quarters. The rest of the assumptions are as listed on problem 16.4. What is the cumulative cash flow at the end of Quarter 4? Be prepared to paste your worksheet for this problem into the OAES.
3. Read the entire article “Framework for TQM to Achieve Business Excellence” and answer these questions:
1. List the 18 elements of TQM.
2. Identify the enabler area for each item on Figure 2, page 1218 of the article.
3. Using Table 3, describe the largest gap between theory and practice in the organizational systems area. What do you think about this gap?
4. Based on the study of 10 notable authors, what must be present so that TQM initiatives can be regarded as successful?
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