Final answer:
True, the philosophy of customer satisfaction is a key aspect of world class firms, as it leads to repeat business, positive reputation, and overall success by focusing on exceeding customer needs and expectations.
Step-by-step explanation:
The statement that the philosophy of customer satisfaction permeates the world class firm is generally true. World class firms prioritize customer satisfaction highly in their business models. These firms understand that keeping customers happy leads to repeat business, positive word-of-mouth, and an enhanced corporate reputation. For example, companies known for exceptional customer service, like Amazon and Zappos, invest heavily in ensuring that customer needs and expectations are exceeded, often going above and beyond what is required to solve customer problems. This philosophy extends across various aspects of the organization, including product quality, customer service, and the post-purchase support. Therefore, holding customer satisfaction as a core value is typically a hallmark of world-class organizations.