COST ACCOUNTING
BALANCED SCORECARDS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Determine the contribution made by the different areas that make up the company towards the development of the proposed strategy.
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Identifies the level of customer satisfaction with products and service. Measures relationships with customers and their expectations of business
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Level the workloads of all company managers to balance the business
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Train managers and other company officials, to improve the operation of the different areas
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Detailed explanation-1: -Customer satisfaction (CSAT) is a measure of how well a company’s products, services, and overall customer experience meet customer expectations. It reflects your business’ health by showing how well your products or services resonate with buyers.
Detailed explanation-2: -The three Cs of customer satisfaction: Consistency, consistency, consistency. It may not seem sexy, but consistency is the secret ingredient to making customers happy. However, it’s difficult to get right and requires top-leadership attention.
Detailed explanation-3: -Customer focus is a strategy that puts customers at the center of business decision-making. Customer-focused businesses make decisions based on how those decisions impact customers-as opposed to focusing on profits above all else. It’s a long-term strategy that develops loyalty and builds trust.
Detailed explanation-4: -Focusing on customer satisfaction means your staff will be able to offer outstanding service with the aim of exceeding expectations. You have to earn your customers’ testimonials and when you do, you’ll attract more customers without any extra effort on your part.