Which of the Following Is the Speed at Which the Organization

question 76

Multiple Choice

Which of the following is the speed at which the organization can improve its products as a result of customer feedback?

• A) efficiency
• B) effectiveness
• C) responsiveness
• D) empowerment

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Definitions:

Contribution Margin

The difference between sales revenue and variable costs, indicating how much revenue contributes to covering fixed costs.

Fixed Costs

Expenses that do not change in total regardless of the level of production or sales activity, such as rent, salaries, and insurance.

Marginal Costs

The additional cost incurred by producing one extra unit of a product or service.

Economic Profits

Profits exceeding the opportunity costs of a next best alternative, measuring the extent to which a firm has generated excess returns over its costs, including the cost of capital.