All of the Following Are Important Criteria for Creation of Appropriate

question 61

Multiple Choice

All of the following are important criteria for creation of appropriate service standards EXCEPT:

• A) The standards should be based on behaviors and actions that are very important to customers
• B) The standards should cover performance that needs to be improved or maintained
• C) The standards should be understood and accepted by employees
• D) The standards should be reactive rather than predictive
• E) The standards should be challenging,but realistic

---

Definitions:

Transfer Risk

The uncertainty associated with cross-border financial transactions, particularly the risk that a foreign debtor will default on its obligations due to external factors like currency restrictions.

Laissez-faire Capitalism

An economic philosophy advocating for minimal government intervention in the market.

Minimal Government Intervention

Minimal government intervention refers to an economic policy or philosophy where the government has a very limited role in the economy, allowing the market to operate with minimal regulatory influence.

Market System

An economic system where decisions regarding investment, production, and distribution are guided by the price signals created by the forces of supply and demand.