Question

If you are a global furniture supplier, how will you rank the five performance objectives, and discuss reasons for the ranking.

Answer 1

The ranking is as follows:

1. Quality: Quality is the most important concern for the customers of the company and for competitiveness as well in the global market. So as the global furniture supplier, I would rank quality factor at my utmost priority in performance objectives.

2. Speed: Speed the second important aspect that makes consumers rely on the services of the company. When the customer's places order and the company provides them must be short and quick. Which is why the speed of fulfilling the orders and timely delivery must be at rank 2.

3. Flexibility: Flexibility is important as far as the dynamic environment is concerned at the global level. Changes in the environment can be due to various reasons and that's why the company must follow those changes and implement it in the business to be in the competition. This is why I would like to place flexibility at rank 3.

4. Dependability: It means that how much the consumers are depending on the business about the availability of the promised product. I would place this factor at 4 because there may be possible that customers rely on their services and are loyal to the company. which is why dependability is not considered as the important factor of performance objective as above.

5. Cost: It is the least important factor for performance objective because sometimes it can be possible that the company keeps its cost less than the competitors and does great in flexibility, quality and speed.

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