Quality Management Principles Often Do Not Apply to Services Because

question 30

True/False

Quality management principles often do not apply to services because the customer has lower quality expectations.

---

Definitions:

Capital Projects

Large-scale, long-term investments aimed at improving an organization's capacity or capabilities, often involving infrastructure, technology, or facilities.

Interest Rate

The amount charged, expressed as a percentage of principal, by a lender to a borrower for the use of assets.

Future Value

The value of a current asset at a specified date in the future based on an assumed rate of growth over time.

Interest Rate

The percentage of a loan that incurs interest for the borrower, usually shown as an annual rate based on the remaining loan balance.