The "Overdependence on the Owner" Problem for Independent Retailers Can

question 57

Multiple Choice

The "overdependence on the owner" problem for independent retailers can be overcome through ________.

• A) taking in an active partner
• B) centralizing decision making in the firm
• C) life insurance policies
• D) limiting time demands on the owner

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Definitions:

Profits_

The financial gain realized when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.

Standard Practice

The generally accepted methods or procedures that are adopted by a professional community for consistency and quality.

Net Promoter Index

A metric that gauges the willingness of customers to recommend a company's products or services to others, used as a proxy for customer satisfaction and loyalty.

Frederick Reichheld

A renowned business strategist known for his work on customer loyalty, including the development of the Net Promoter Score (NPS) as a measure of customer loyalty and satisfaction.