Companies Can Assess If They Are Doing a Good Job

question 137

Multiple Choice

Companies can assess if they are doing a good job servicing their customers by establishing performance measurements,also known as

• A)touch points.
• B)benchmarks.
• C)metrics.
• D)qualifiers.
• E)evaluators.

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Definitions:

Production Technique

Methods or processes used in the creation of goods or services, often focusing on increasing efficiency or quality.

Coordination Problem

Challenges that arise when parties involved in economic activity must align their plans and actions to effectively achieve their objectives.

Central Planning

An economic system where the government makes all decisions about the production and distribution of goods and services, often found in socialist economies.

Chain Reaction

A sequence of reactions where a reactive product or by-product causes additional reactions to take place, often leading to a self-sustaining series.