The Cornerstone of Any Successful Business Is Knowing and Understanding

question 4

Multiple Choice

The cornerstone of any successful business is knowing and understanding:

• A) how each of its staff socialise outside of work hours
• B) what its customers like to eat for dinner
• C) when its customers like to buy and what they like to do with the products they buy
• D) its customer's needs - knowing what, when and how to provide the products and services they expect

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Definitions:

Nonageist

A principle or practice that avoids discrimination against people based on their age, particularly towards the elderly.

Goodwill

The intangible asset that arises when a business is valued at more than the sum of its tangible assets, often related to reputation, brand, or customer relationships.

Organizing Information

The act of structuring and arranging data or knowledge in a coherent and logical manner.

Customer Complaints

refer to expressions of dissatisfaction made by customers regarding a company's products or services.