Question

A method of understanding what any business does is to view it as a system for meeting customer needs by

Answer 1

A business is usually targeting some customers’ needs. In order for the company to thrive, it has to understand what their customers want so they can tailor the company system to it. So by understanding how a company system meet customer needs, you’ll get to know what the business actually is.

Answer 2

A method of understanding what is done by any business is to look at it as a system for meeting the needs of a customer by changing lower-value inputs into higher value outputs by improving quality through packaging, blending, branding among other methods. This is a concept of adding value in business and identifying major types of business in a the market.