What Is Customer Value

question 28

Multiple Choice

What is customer value?

• A)the difference between what a customer receives and what the customer gives up when buying a product or service
• B)the establishment of a competitive advantage by creating better customer value for the same cost
• C)the efficient performance of necessary activities and elimination of activities that do not create customer value
• D)the improvement of costing accuracy by emphasizing the activities and tasks that must be performed

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Definitions:

Servant Leadership

A leadership philosophy that emphasizes the leader's role as a servant first, prioritizing the needs of the employees and organization over personal gain.

Participative Leadership

A leadership style where the leader involves team members in decision-making processes, fostering collaboration and collective responsibility.

Heme

An iron-containing compound that forms the nonprotein part of hemoglobin and some other biological molecules, essential for oxygen transport in the bloodstream.

Anemia

A condition marked by a deficiency of red blood cells or of hemoglobin in the blood, resulting in pallor and weariness.