The more service-driven a company is, the more it spends for labor and administrative costs. Because a company is a business, it must keep detailed records of what it owns and what it owes. You might want to put it on paper. If a disaster struck, and you lost your home, a list of everything you own would be very helpful in filing an insurance claim. Cash Flow Whatever mix of product or service it sells, a company gets its income from its customers.
Customers are very, very important.
Making customers delighted, not just satisfied, keeps a business going. We must find out what our customers need. We must also know how well we are meeting those needs. Customers can always find competitors who will try to satisfy them. Lower prices and higher quality mean our customers get more for their money.