José, an Employee of a Company That Has Worked Hard

question 71

Multiple Choice

José, an employee of a company that has worked hard to have a customer mind-set, understands that ________.

• A) whether internal or external to the firm, satisfying customers is central to doing his job well
• B) all members of the firm must get to work on time and start their computers by 8:30 a.m.
• C) it is essential to generate an understanding of the marketplace and keep that information confidential
• D) products must be produced solely for loyal customers from higher socio-economic status
• E) system capability must be aligned externally so that the organization can respond with competitively similar goods and services

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Definitions:

Desired Return

Desired return refers to the expected financial gain or profit an investor aims to achieve from an investment over a specific period.

Investment

Investment refers to the allocation of resources, typically financial, in assets or projects with the expectation of earning a return.

Target Cost

The maximum amount that can be spent on a product while still earning the desired profit margin, usually determined during the design and development stages.

Investment

Assigning financial resources with the aim of achieving returns or making a profit.