Although Standardization of Services May Be Difficult to Achieve,firms Can

question 22

Multiple Choice

Although standardization of services may be difficult to achieve,firms can attempt to:

• A) Achieve standardization through training of employees.
• B) Provide high levels of consistency.
• C) Rationalize why standardization is not achieved.
• D) Develop more franchises in order to achieve standardization.
• E) Ignore the impact of lack of standardization of service on customers.

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Definitions:

Employee-Shareholder

An employee-shareholder is an employee who also holds shares in the company they work for, often benefiting from stock options or equity compensation plans.

Dividends

Payments made by a corporation to its shareholders, usually as a distribution of profits.

Corporate Opportunity

A business opportunity that a company has a legal interest in or right to, which an officer or director cannot take for their personal gain without breaching their fiduciary duty.

Conglomerate

A large corporation formed by the merger of separate and diverse firms, focusing on a wide range of business activities and markets.