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There Is No Sense in Achieving Customer Satisfaction and Improving

question 23

True/False

There is no sense in achieving customer satisfaction and improving business process if these actions do not translate into financial returns for the company's owners.


Definitions:

Economies of Scale

The cost advantage experienced by a firm when it increases its level of output. The average costs per unit of output decrease with the scaling up of production.

Diamond-Mining Company

An entity engaged in the extraction of diamonds from the earth through mining operations.

Diseconomies Of Scale

The phenomenon where production costs per unit increase as a firm or production process increases in size, often due to inefficiencies.

Industry Demand Curve

A graphical representation of the total demand for the products or services provided by a specific industry at various prices.

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