When Establishing Criteria to Measure the Success of a Customer-Oriented

question 111

Multiple Choice

When establishing criteria to measure the success of a customer-oriented business, managers should

• A) limit their attention to financial measures such as profit and return on investment since these are the only objective and quantifiable measures available.
• B) focus most of their attention on measures of employee satisfaction, since without good employees the firm will not be competitive.
• C) focus primarily on financial measures, but pay some attention to nonfinancial concerns.
• D) recognize that, while financial measures are important and should be considered, the purpose of the firm is to satisfy both internal and external customers.

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Definitions:

Voluntary

Undertaken by choice or without coercion; an act done willingly.

Norms

Shared standards or rules that govern behaviors within a group or society, indicating what is considered appropriate or acceptable.

Morals

Principles or beliefs concerning what is right and wrong behavior, guiding individual conduct and decision-making.

Ethics

Moral principles that govern a person's behavior or the conducting of an activity.