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Management Efficiency and Audit

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Questions and Answers

What is the primary condition for investing in assets and related investments?

The investment should be made in a short period
The investment size should be large
The investment should be made in a specific industry
The returns should be higher than the input costs (correct)

What is the primary goal of organizations pursuing a strategy of differentiation based on quality?

To gain higher profits (correct)
To increase prices
To decrease costs
To reduce competition

What is likely to happen if customers perceive a product or service as overpriced?

They will ask for a refund or complain (correct)
They will continue to purchase the product
They will switch to a different product
They will recommend the product to others

Why is measuring quality essential in an organization?

To determine if quality is being achieved (A) Signup and view all the answers

What is the consequence of not providing quality to internal customers?

Loss of customer loyalty (A) Signup and view all the answers

What is the key aspect of organizational priorities that involves high-quality work?

Excellence (A) Signup and view all the answers

Why is quality important in an organization's internal operations?

To create a culture of quality (D) Signup and view all the answers

What happens when quality is developed and applied correctly in an organization?

Higher profits (B) Signup and view all the answers

What is the primary reason for creating a culture of quality in an organization?

To achieve continued success (B) Signup and view all the answers

What is the relationship between quality and customer perceived value?

Quality is directly proportional to customer perceived value (C) Signup and view all the answers