Which one of the following performance measures is not true of a world-class firm?

A world-class firm is characterized by several key performance measures that support its competitive advantage in the marketplace. One of the essential attributes of these firms is the management of lead times. Long lead times are generally indicative of inefficiencies within a production or supply chain process. A world-class firm typically aims for short lead times, which enhance responsiveness to customer needs and improve overall service levels.

High customer satisfaction reflects a firm’s success in meeting or exceeding customer expectations, which is a cornerstone of world-class status. Efficient production processes ensure that resources are utilized effectively, minimizing waste and cost while maximizing output. Additionally, constant innovation is crucial for maintaining relevance and competitive edge in rapidly changing markets.

Therefore, the measure of having long lead times does not align with the characteristics of a world-class firm, making it the correct answer in this context.