Identify and explain the importance of five indicators of extraordinary customer service.
What will be an ideal response?
1. Doing business on a first-name basis. Small ventures that know their customers by name and greet them as friends establish a bond that is powerful and encourages loyalty.
2. Keeping in touch. Face-to-face and phone conversations are much more effective than e-mail messages or mass mailings. Asking for feedback during these interactions is helpful to the business and shows that the entrepreneur is committed to getting customers' approval. It also confirms that the entrepreneur cares about more than selling.
3. Finding ways to help. Helping customers doesn't always lead to an immediate sale but it can be good for business, and at a minimal cost.
4. Customizing your service to meet customer preferences. By remembering the customers' personal preferences and adjusting service to meet them, entrepreneurs increase ther value of what they offer.
5. Addressing problems promptly. Taking steps to resolve an issue when it arises lets the customer know he is important to the business.
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The method of reporting cash flows from operating activities under which income is adjusted for transactions impacting both net income and cash flows, but in different ways, is called the
a. direct method. b. indirect method. c. combination method. d. adjusted method.
Bella is working with Edward to complete a project proposal. Edward promised her that she would get credit for the part of the proposal that she completes. Bella is trying to do everything to move up the corporate ladder, but she wonders if Edward will keep his promise and give her the credit that she deserves. Bella is struggling with which element of expectancy theory?
A. expectancy B. instrumentality C. effort D. valence
Herb, an employee at the Princess Hotel all-inclusive resort and spa, created a new process for guests to sign up for activities. This is an example of which type of Innovation?
a. radical Innovation of an introduction of new good b. incremental Innovation of a new source of production c. radical Innovation of a new market d. incremental Innovation of a new method of production
Labor strikes and walkouts are examples of external risks
Indicate whether the statement is true or false