Senior Management Thought Customers Expected at Least of 96 Percent

question 17

Multiple Choice

Senior management thought customers expected at least of 96 percent for on-time delivery.However, senior management established a standard of 94 %.The difference is the:

• A)Satisfaction gap.
• B)Performance gap.
• C)Standards gap.
• D)Knowledge gap.

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Definitions:

Price Reductions

A strategy where a business lowers the price of its products or services to attract more customers, increase sales volume, and possibly outmaneuver competitors.

Supplier's Financial Capacity

The ability of a supplier to meet contractual obligations, including production and delivery, based on their financial resources.

Risk Minimization

The process of identifying, assessing, and taking steps to reduce or eliminate risks to an organization.

Internal Validation

The process of reviewing and assessing the internal procedures, controls, and operations of an organization to ensure they are effective and in line with set standards or goals.