Fundamentals of Management: Essential Concepts and Applications (9th Edition)
Fundamentals of Management: Essential Concepts and Applications (9th Edition)
9th Edition
ISBN: 9780133499919
Author: Stephen P. Robbins, David A. De Cenzo, Mary A. Coulter
Publisher: PEARSON
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Chapter 13, Problem 5DT
Summary Introduction

To determine:

What benefits does lingo or jargon have?

Introduction:

A jargon is a set of special words and phrases that are used by a special group of people in the workplace.

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In a small island developing country, the service sector has been dominated by four companies: LightingPros Ltd., Island Solutions Inc., Real Services Co., and Entertainment Enterprises. Each company offers similar services, including event planning, catering, transportation, equipment rental, and audio-visual production. At present clients engage different companies for specific services, creating a balanced distribution of business across the market. However, recent shifts in client preferences have disrupted this equilibrium. Clients now prefer the convenience and efficiency of working with a single provider that can offer a comprehensive package of services. This has led to a significant decline in business for some companies that are unable to offer the full suite of services on their own. Some of the challenges faced by the companies include limited-service offerings, client convenience where clients prefer working with a single vendor to simplify communication, reduce costs, and…
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