Customer Satisfaction, Operational Efficiency, and Employee Excellence Are the Three

question 119

True/False

Customer satisfaction, operational efficiency, and employee excellence are the three primary considerations when using the balanced scorecard approach.

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Definitions:

Decoupling Inventory

Inventory kept in reserve to protect the production process from fluctuations in demand or supply, ensuring that operations can continue smoothly despite variability.

Consumption of Services

The process of using services provided by businesses or individuals, which can include anything from healthcare to recreational activities.

Contracts

Legally binding agreements between two or more parties that outline the terms and conditions of a transaction or arrangement.

Quality Standards

Established criteria or benchmarks that describe the characteristics of a product, service, or process to ensure it meets customer and regulatory requirements.