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Service quality (SQ), in its contemporary conceptualisation, is a comparison of perceived expectations (E) of a service with perceived performance (P), giving rise to the equation SQ = P − E. [1] This conceptualistion of service quality has its origins in the expectancy-disconfirmation paradigm.
When perceptions exceed expectations then service quality is high. The model of service quality identifies five gaps that may cause customers to experience poor service quality. In this model, gap 5 is the service quality gap and is the only gap that can be directly measured. In other words, the SERVQUAL instrument was specifically designed to ...
In economics, organizational effectiveness is defined in terms of profitability and the minimisation of problems related to high employee turnover and absenteeism. [4] As the market for competent employees is subject to supply and demand pressures, firms must offer incentives that are not too low to discourage applicants from applying, and not too unnecessarily high as to detract from the firm ...
A supply is a good or service that producers are willing to provide. The law of supply determines the quantity of supply at a given price. [5]The law of supply and demand states that, for a given product, if the quantity demanded exceeds the quantity supplied, then the price increases, which decreases the demand (law of demand) and increases the supply (law of supply)—and vice versa—until ...
The extensive use of game theory in industrial economics has led to the export of this tool to other branches of microeconomics, such as behavioral economics and corporate finance. Industrial organization has also had significant practical impacts on antitrust law and competition policy .
Serviceability involves the consumer's ease of obtaining repair service (example: access to service centers and/or ease of self-service), the responsiveness of service personnel (example: ease of getting an appointment, willingness of repair personnel to listen to the customer), and the reliability of service (example: whether the service is ...
It helps to imagine food as a spectrum: At one end, you have nutrient-dense, anti-inflammatory foods (think: colorful vegetables, berries, high-quality olive oil, fatty fish, nuts, seeds, and ...
Service delivery point – the physical location and/or logical interface where the benefits of the service are rendered to the consumer. At this point the service delivery preparation can be assessed and delivery can be monitored and controlled. Service consumer count – the number of consumers that are enabled to consume a service.