Explain Why a Firm Would Want to Have a Customer

question 136

Essay

Explain why a firm would want to have a customer satisfaction measurement program.

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Definitions:

Owner's Equity

The residual interest in the assets of an entity after deducting liabilities.

Drawings

Withdrawals of cash or other assets from a company by its owner(s) for personal use, reducing the capital account.

Economic Events

Actions or occurrences that significantly impact the financial status or operations of a business, influencing its accounting records.

Information System

An organized system for the collection, organization, storage, and communication of information; it supports data analysis and decision-making processes within an organization.