All of the Following Are Advantages of Defining a Firm's

question 47

Multiple Choice

All of the following are advantages of defining a firm's mission in terms of benefits that customers seek except for which one?

• A) Keeping the firm focused on its customer,instead of becoming preoccupied with its internal needs
• B) Encouraging innovation,creativity,and developing new ways to satisfy customer expectations
• C) Stimulating an awareness of changes in customer desires and preferences so that product offerings remain relevant
• D) Satisfying customer wants and needs may not always be in the best interests of society as a whole

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Definitions:

Net Pay

The amount of an employee's earnings remaining after all deductions, such as taxes and retirement contributions, have been taken out.

Overtime Rate

The higher pay rate employees earn for hours worked in excess of standard full-time hours.

Weekly Pay

Compensation paid to employees on a weekly basis.

Hourly Rate

The amount of money paid for each hour of work, commonly used for calculating wages of part-time or contract employees.