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Guarantees come to professional service firms
Sloan Management Review
|January 3, 1993
Abstract:
Can lawyers, doctors, investment bankers, accountants, and consultants guarantee their work? Your money back if not absolutely delighted? Some professional service firms are doing exactly that, and they believe they are gaining not only satisfied customers but higher market share and improved service quality. The authors discuss the benefits and risks of unconditional and more limited guarantees. Firms that address this issue proactively now, they argue, will be less likely to rush into poorly considered guarantees later.
Related Concept Videos
01:19Quality Assurance
Quality assurance is the overarching term used to describe the activities employed to ensure the proper performance of a system. These activities can be classified into three categories: quality control, quality assessment, and internal corrective measures. Typically, these activities work cyclically: quality control is performed before and during the analysis, while quality assessment occurs during and after the investigation. Internal corrective measures are implemented based on the findings...
01:29Professional Values
Nurses are responsible for caring for patients during birth, death, illness, and healing. Professional values guide the decisions and actions that nurses make in their careers. If nurses know the decisions and actions to take, providing patients with exceptional care is possible.
The values that are the foundation of the nursing profession are altruism, autonomy, human dignity, and social justice.
First, altruism refers to the concern for the welfare and well-being of others without personal...
The values that are the foundation of the nursing profession are altruism, autonomy, human dignity, and social justice.
First, altruism refers to the concern for the welfare and well-being of others without personal...
01:09Accountability and Responsibility of a Nurse II
Professional accountability in nursing is a multifaceted concept that encompasses professional ethics, legal standards, and employment expectations. This framework ensures that nurses maintain and elevate the quality of care while upholding the values of their profession. It compels them to treat patients, families, and colleagues with respect, compassion, and integrity.
For example, a nurse demonstrating respect and compassion might listen attentively to a patient's concerns, provide comfort...
For example, a nurse demonstrating respect and compassion might listen attentively to a patient's concerns, provide comfort...
01:20Actuarial Approach
The actuarial approach, a statistical method originally developed for life insurance risk assessment, is widely used to calculate survival rates in clinical and population studies. This method accounts for participants lost to follow-up or those who die from causes unrelated to the study, ensuring a more accurate representation of survival probabilities.
Consider the example of a high-risk surgical procedure with significant early-stage mortality. A two-year clinical study is conducted,...
Consider the example of a high-risk surgical procedure with significant early-stage mortality. A two-year clinical study is conducted,...