When Two or More Service Companies Want to Offer a Service

question 21

Multiple Choice

When two or more service companies want to offer a service and neither has the financial capability or expertise, they often undertake:

• A) Horizontal service systems
• B) Service partnerships
• C) Service integration
• D) Service mentoring
• E) Vertical service systems

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Definitions:

Standard Costs

An estimated or predetermined cost of performing an operation or producing a good, used in budgeting and pricing.

Benefits to Cost Ratio

The comparison of benefits gained from a particular action or investment to the costs incurred by implementing it, often used to evaluate financial efficiency.

BCR

Benefit-Cost Ratio, a numerical expression comparing the benefits of an action or project to its costs.

Technical Skills Certificate Program

A formal recognition of an individual's competence and proficiency in specific technical or vocational skills, usually acquired through a short-term educational or training process.