Uma Wants to Improve Her Customer Service Department by Using

question 45

Multiple Choice

Uma wants to improve her customer service department by using information technologies to create two-way conversations with customers to gain more knowledge of their wants and preferences. Uma wants to institute _____ management.

• A)total quality
• B)customer relationship
• C)mass customization
• D)just-in-time
• E)computer-integrated

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Definitions:

Industry Size

A measure of the total production or the total number of participants in a particular industry or market.

Short-Run Losses

Temporary financial deficits that a firm may face due to operating costs exceeding total revenue in the short term.

Zero Economic Profit

A situation where a firm's total revenue is exactly equal to its total costs, including both explicit and implicit costs.

Economic Profits

The difference between total revenue and total costs, including both explicit and implicit costs, representing surplus remaining after all costs are covered.