Impact of Business Decisions

Front

What can be the impact of poor customer service on a business?

Back

It leads to decreased customer satisfaction and loss of customers

Front

Which of the following could be a sign of "failure to adapt" in a business? Continuing to use outdated technology and processes, Actively responding to market trends and customer demands, Regularly updating product offerings, Seeking customer feedback to improve products

Back

Continuing to use outdated technology and processes

Front

How does "lack of a competitive advantage" contribute to business failure?

Back

It makes the business less appealing to customers compared to competitors

Front

What role does "overconfidence in business decisions" play in failure?

Back

It can lead to ignoring risks and making poor financial decisions

Front

What is a common consequence of "not monitoring industry trends" for a business?

Back

An inability to adjust to changes in customer preferences and competitors