The Key to Successfully Competing Is Understanding What Customers Want

question 33

Multiple Choice

The key to successfully competing is understanding what customers want and then __________ satisfy those wants.

• A)training production workers to
• B)finding suppliers who can
• C)finding the best way to
• D)designing products and services that
• E)hiring enough workers to

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Definitions:

Acid-Test Ratio

A financial metric used to gauge a company's liquidity by comparing its most liquid assets, without including inventory, to its current liabilities.

Profitability

This refers to the ability of a business to generate earnings as compared to its expenses over a specified period.

Liquidity

The ease with which assets can be converted into cash without significantly affecting their value.

Current Ratio

A liquidity ratio that measures a company's ability to pay short-term obligations with its current assets over current liabilities.