How Do Customers Play a Role in Changing the Job

question 52

Multiple Choice

How do customers play a role in changing the job of the modern manager?

• A)Managers are learning to think of customers as adversaries in a battle of survival.
• B)Managers are inviting customers to take control of the planning and design of new products.
• C)Managers are increasingly de-emphasizing customer satisfaction as a major goal.
• D)Managers are increasingly including customer satisfaction as a major goal.

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Definitions:

Home Currency

The currency in which a country conducts its principal economic activities and in which domestic financial statements are reported.

Exchange Rate Risk

The possibility of losing value in international financial transactions due to fluctuations in the currency exchange rates.

Manage Exchange Rate

Strategies or practices employed by individuals, businesses, or countries to mitigate or take advantage of fluctuations in exchange rates.

London Interbank Offer Rate (LIBOR)

The rate most international banks charge one another for overnight Eurodollar loans.