Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Buss. Environment 14
Business Environment Chapter 14
| Term | Definition |
|---|---|
| Absolute liability | A view of liability in which a manufacturer is strictly liable for damages caused by a product even if it had no way of knowing that a product might cause a problem later |
| Caveat emptor | let the buyer beware |
| Caveat vendor or caveat venditor | let the seller beware -- forces seller to take responsibility for products |
| Consumer Product Safety Commission (CPSC) | An independent regulatory agency created by the Consumer Product Safety Act of 1972 that works to reduce the risk of injuries or deaths from consumer products by developing and enforcing standards |
| Consumer Product Safety Improvement Act of 2008 | The most recent law given to the CPSC for enforcement |
| Consumer stakeholder satisfaction model | A model describing how product and service quality and safety lead to consumer satisfaction and consequent increase in profitability and reputation |
| Contractual theory | An ethical theory of product quality that concerns the contractual agreement between a firm and a customer |
| Delayed manifestation cases | Situations in which delayed reactions to products appear years later after consumption of or exposure to the product |
| Doctrine of strict liability | A doctrine holding that anyone involved in the design |
| Due care theory | An ethical theory of product quality that focuses on the relative vulnerability of the customer |
| Food and Drug Administration (FDA) | A regulatory agency created by the Food and Drugs Act of 1906 responsible for protecting the public health through analysis |
| Food Safety Modernization Act | legislation resulting in laws for preventative controls in food production |
| ISO 9000 | international standards for quality management and quality assurance that have a customer focus |
| Kaizen | Continuous improvement that involves all participants. |
| Lean Six Sigma | emphasizes the process and reduction of waste in manufacturing |
| Market share liability | A view of liability in which firms that make a defective product may be held liable in proportion to their market share of sales of the product; derived from a 1980 case involving manufacturers of a harmful drug and |
| Product (products) liability | Includes the liability of any or all parties in the chain of manufacture and sale of a product and for any damage caused by that product |
| Product extortion | Occurs when someone threatens to damage |
| Product liability reform (or tort reform) | A movement by business groups |
| Product liability risk management program | A five step program developed by companies as part of their ethical and social responsibility to create safe products |
| Six Sigma | A recent development within TQM that includes a broad array of strategies |
| Social costs view | An ethical theory of product quality stating that |
| Total Quality Management (TQM) | A management program in which all the functions of a business are integrated around concepts of quality |
Created by:
poolguy84
Popular Management sets