Importance of eliminating wait timeseveryone hates to wait

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Importance of Eliminating Wait Times

Everyone hates to wait to receive their service or product. From waiting in line at the supermarket, to waiting for packages to arrive, customers simply don't like to wait. Today's fast paced society has become even less tolerable to delays then ever before. As a manager (of anything you choose) why is it important to eliminate/minimize wait times? How does increased wait times waste money or cost you business? How can you determine steps in your business's process that are wasteful?
Please give specific real world examples.

Reference no: EM13369088

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