When Management Shifts Its Focus from Product Orientation to Customer

question 2

True/False

When management shifts its focus from product orientation to customer orientation, future growth is endangered.

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Definitions:

Preferential Payment

A payment made by a debtor to one creditor over others, typically before a bankruptcy, that can be subject to clawback during bankruptcy proceedings.

Chapter 7 Bankruptcy

A type of bankruptcy that involves the liquidation of assets to repay creditors, used when the individual or business is unable to reorganize debt and lacks the means to pay it off.

Discharged Debts

Debts that have been forgiven or eliminated, usually through bankruptcy proceedings, and are no longer legally enforceable.

Repay

To return money that was borrowed, often including interest in the case of loans or credit.