Servitization Refers to a Company Building Service Activities into Its

question 44

True/False

Servitization refers to a company building service activities into its product offerings for current users.

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Definitions:

Standardization

The process of implementing and developing technical standards based on the consensus of different parties including firms, users, interest groups, standards organizations, and governments.

Modular Design

An approach to design that partitions a system into smaller parts or modules, which can be independently created and then used in different systems.

Ingredients

Components or elements combined in the preparation of a particular dish or product.

Value Engineering

A systematic method to improve the "value" of goods or products and services by using an examination of function.