Because Customers Often Participate in the Provision of Services, Service

question 141

True/False

Because customers often participate in the provision of services, service providers have less control over how the process is carried out and whether the result is satisfactory.

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Definitions:

Fiscal Year

A twelve-month period used for accounting purposes and preparing financial statements.

Measurable

Capable of being quantified or precisely assessed.

Social Responsibility Pyramid

A framework suggesting that businesses are responsible to their stakeholders in a hierarchical manner, starting from economic, legal, ethical, to philanthropic responsibilities.

Milton Friedman

was an American economist known for his strong belief in free-market capitalism and for being a leading proponent of monetarism.