First, verify sales statistics for a store that is down from previous year. Data must be obtained and reported appropriately. Data entry, reporting, or other errors could skew results.
Each answer in the question can help a company benefit from a customer profitability study. Briefly review each option:
Employee loyalty is a crucial part of human resources management, yet balanced scorecards rarely focus on it. Businesses utilize a balanced scorecard to track and measure their strategic goals and objectives across financial, customer, internal process, and learning and growth perspectives.
The first residual income calculation subtracts monthly debts from net income. This residual income takes into account the amount left over after monthly bills and expenses are deducted from net revenue.
Product profitability analysis requires accurate revenue and expense data. It's crucial to know a product's revenue and production, marketing, and sales costs to appropriately assess its profitability.
Wealth is created by residual income. It refers to ongoing income. Residual income is earned even when a person is not working, unlike salary or hourly wages.
Customer profitability analysis can provide any of the alternatives listed. Briefly review each option:
Businesses, governments, and non-profits use the balanced scorecard to monitor and manage performance strategically. It helps these firms turn strategic goals into financial, customer, internal process, and learning and growth objectives and KPIs.
Graphic rating scales evaluate employee performance on a continuum or scale. The scale lets the evaluator mark a point on a scale, such as a numerical rating or descriptive descriptors, for each criterion while grading employees.
Residual income is what's left after paying all bills and expenses. After meeting financial commitments, it represents funds for saving, investing, or discretionary expenditure.
Balanced scorecards help nonprofits track contributors. The balanced scorecard helps organizations, especially non-profits, measure and manage performance across financial, customer, internal process, and learning and growth perspectives.
Option an appropriately illustrates how musicians can make residual income. When their music is downloaded, streamed, played on the radio, utilized in advertisements, movies, or TV shows, or otherwise circulated, musicians receive royalties. After recording and managing rights, the artist can earn money from their music without having to generate new content.
Yes you are correct, Offer a discount to the retailer
Some people struggle to understand letting a customer leave or ending a commercial relationship. Because many firms prioritize client retention—keeping existing customers satisfied, engaged, and doing business with them—this is often difficult.
The balanced scorecard helps organizations transform strategic goals and objectives into performance measures and key performance indicators (KPIs). It provides a balanced view of the organization's performance, allowing it to evaluate progress toward its goals from numerous angles.
Cross-selling involves upselling existing customers. Suggesting related or complimentary items increases the customer's purchasing value. Cross-selling laptop accessories including bags, mice, and antivirus software is an example.
