RATED CORRECT | 2025-2026 LATEST UPDATE
cottage industries The term adopted in the early days of customer service when many
people started small businesses in their homes or cottages and bartered products or services
with neighbors.
service economy A term used to describe the trend in which businesses have shifted from
primarily production and manufacturing to more service delivery.
telecommuniting A trend seen in many congested metropolitan areas and government
offices.
downsizing term applied to the situation in which employees are terminated or empty
positions are left unfilled once someone leaves and organization
networking the active process of building relationships and sharing of resources
globalization the term applied to an ongoing trend of information, knowledge and resource
sharing around the world
business-to-business Refers to a business-to-business customer service
offsharing Refers to the relocation of business services from one country to another.
outsourcing Refers to the practice of contracting with third-party companies or vendors
outside the organization to deliver products and services to customers or produce products