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 non-financial 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.

Question

Business

Danielle Barton

16 January, 16:44

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 non-financial 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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Answers (1)

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Keely Mosley · Answer 1

D

Explanation:

Financial success metrics are essential and should not be overlooked, such as earnings and dividends. In addition, the most common metrics used to assess performance have historically been those removed. The aim of a customer-oriented company today however is to satisfy everybody concerned. Non-financial parameters therefore also apply to the assessment of the company's success. therefore the answer must be

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.