____ Involves Giving Customer-Contact Employees the Authority and Responsibility to Make

question 31

Multiple Choice

____ involves giving customer-contact employees the authority and responsibility to make marketing decisions without seeking the approval of a supervisor.

• A) Benchmarking
• B) Internal marketing
• C) Total quality management
• D) Marketing implementation
• E) Empowerment

---

Definitions:

Floating Exchange Rates

A system in which the value of a currency is determined by the forex market based on supply and demand relative to other currencies, unlike fixed exchange rates that are tied to a physical commodity or another currency.

Gold Convertible

A financial system where a country's currency has a fixed value in terms of gold, allowing it to be exchanged for a specified amount of gold.

Balance-of-Payment Deficits

A situation in the balance of payments where the payments made by a country for its imports, investments abroad, and other outflows are greater than the inflows from exports, foreign investments, etc.

Japanese Yen

The official currency of Japan, known globally as a major currency for trade and finance.