When Establishing Criteria to Measure the Success of a Customer-Oriented

question 111

Multiple Choice

When establishing criteria to measure the success of a customer-oriented business, managers should

• A) limit their attention to financial measures such as profit and return on investment since these are the only objective and quantifiable measures available.
• B) focus most of their attention on measures of employee satisfaction, since without good employees the firm will not be competitive.
• C) focus primarily on financial measures, but pay some attention to nonfinancial concerns.
• D) recognize that, while financial measures are important and should be considered, the purpose of the firm is to satisfy both internal and external customers.

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Definitions:

Volley Principle

The volley principle is a theory in hearing that suggests groups of auditory nerve fibers fire neural impulses in rapid succession, allowing for the perception of sounds higher than 1000 Hz by the summing of their individual firing rates.

Place Theory

A theory in hearing that suggests different areas of the basilar membrane respond to different frequencies of sound, thus determining pitch.

Flavor

A complex sensory impression of food or other substances, combining taste, smell, and sometimes texture.

Taste

A sense that allows us to perceive flavors through the interaction of soluble substances with taste buds on the tongue.