Business Management: Quality, Benchmarking, and Performance Evaluation

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.

What is benchmarking in the context of business performance?

It involves comparing business performance to ideal standards and implementing measures to close performance gaps.

What are the key financial ratios used to assess business performance?

Solvency, investment return, profitability, and liquidation.

What methods are used to evaluate and improve staff performance?

Performance appraisal and self-evaluation.