To Successfully Minimize Product and Service Failures Companies Should

question 91

Multiple Choice

To successfully minimize product and service failures companies should:

• A)Develop better project management systems.
• B)Motivate employees to reduce high failure rates.
• C)Focus on defining the best set of product dimensions to match core competencies.
• D)Determine how to create,communicate,and deliver value by"hearing the voice"of the consumer.

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Definitions:

Financial Sense

Pertains to the practical and prudent management of money and financial resources to achieve set goals effectively.

Operating Cash Flow

Cash generated from the core business operations of a company, excluding financing and investing activities.

Marginal Revenue

The additional revenue that a company generates by selling one more unit of a product.

Simulation Analysis

A method used in financial planning that assesses the impact of different variables on a model's outcome to predict possible outcomes under different scenarios.