COMM101 Midterm: Exam questions with solutions MIDTERM

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Because financial performance is the same as profit. Financial performance is the base of other criteria and it is the basic purpose for a business. When revenue is greater than expenses, cash flow is generated. Because if we meet customer needs, the volume of the revenue will increase, therefore the revenue will increase. Building quality products and services is consistency and reliability. Encouraging innovation and creativity is create environment where taking risks is a comfortable action. Because with new ideas which other competitors do not hold, the firm can choose the price point for what you created in direct effect through effects on other critical factors. With identifying new ways of producing, it can lead to improved quality. Because employees work harder if they like the company. Your employees are able to meet their personal goals while achieving the business goals. When you have people in this midset, you will see the connections.