Final answer:
Customer responsiveness includes a focus on product development, cost reduction, customer feedback, and effective employee training. Employee training increases performance and satisfaction, leading to better service. R&D investments create positive externalities, enhancing innovation and environmental sustainability.
Step-by-step explanation:
Customer Responsiveness in Business
To excel in customer responsiveness, a company must focus on various aspects such as product development, cost reduction, customer feedback, and employee training. A 2003 study highlighted the significance of employee training on parameters like immediate response to training, learning outcomes, behavioral changes, and impact on productivity and profits. Further, the ethical, scientific, economic, and legal considerations of engineers, the perspective of treating managers as internal customers, and R&D's role in creating positive externalities underline the multi-faceted approach needed for a company to excel.
Employee training can be diverse, including methods like self-instruction and computer-assisted training. When employees receive effective training, they provide better customer service and improve in job performance and satisfaction.
Investments in research and development (R&D) often create positive externalities by promoting innovation that benefits the wider community and can increase a company's environmental responsibility. Organizational investments in greener products and reducing emissions reflect a commitment to environmental sustainability.