You just inherited the family business from your uncle who ran it successfully or over twenty-five years.You worked in the business during those years,and always vowed to change things once you took over ownership.Specifically,you came to realize that your uncle ran the business with a transaction-based mindset that produced good results,but not optimal results.You vowed to shift the business towards a relationship-based approach when you took over.
Based on your philosophy,which of the following characteristics do you plan to instill in the company's new approach to doing business?
A)Treat customers as equal partners in the buyer-seller exchange.
B)Limit communications with customers.
C)Focus on selling products and selling them quickly.
D)Have a short-term focus in the interactions with customers.
E)Focus on new sales rather than repeat sales.

Question

You just inherited the family business from your uncle who ran it successfully or over twenty-five years.You worked in the business during those years,and always vowed to change things once you took over ownership.Specifically,you came to realize that your uncle ran the business with a transaction-based mindset that produced good results,but not optimal results.You vowed to shift the business towards a relationship-based approach when you took over. ​
Based on your philosophy,which of the following characteristics do you plan to instill in the company's new approach to doing business?​
A)​Treat customers as equal partners in the buyer-seller exchange.
B)​Limit communications with customers.
C)​Focus on selling products and selling them quickly.
D)​Have a short-term focus in the interactions with customers.
E)​Focus on new sales rather than repeat sales.

Quizplus · Accepted Answer

The philosophy of a relationship-based approach involves treating customers as equal partners in the buyer-seller exchange, rather than just as transactions. This fosters loyalty and repeat business.

Answer: B, C, D, E are incorrect.
 Limiting communications, focusing on quick sales, having a short-term focus, and focusing on new sales are all characteristics of a transaction-based approach, which is the opposite of a relationship-based approach.

You Just Inherited the Family Business from Your Uncle Who