Business Management: Quality, Benchmarking, and Performance Evaluation
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4 Terms
1
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What is the main focus of top quality management in a business?
To ensure total customer satisfaction by dedicating efforts to the quality of tasks.
2
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What is benchmarking in the context of business performance?
It involves comparing business performance to ideal standards and implementing measures to close performance gaps.
3
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What are the key financial ratios used to assess business performance?
Solvency, investment return, profitability, and liquidation.
4
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What methods are used to evaluate and improve staff performance?
Performance appraisal and self-evaluation.
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Flashcards (42)