For continuous existence, a service oriented concern depends on?
Answer Details
Out of the options provided, the service-oriented concern depends the most on the patronage of consumers for its continuous existence.
This means that the business needs to focus on satisfying the needs and wants of its customers through the quality of its service and the value it provides. If the business consistently meets the needs of its customers, it is more likely to attract repeat business and build a loyal customer base.
While having liquid assets, a strong staff, and favorable legislation can be beneficial, they are not the most critical factors for a service-oriented business's continuous existence. Similarly, middlemen may be important for certain types of businesses, but they are not a requirement for all service-oriented concerns.
Therefore, it is essential for a service-oriented concern to prioritize the satisfaction of its customers in order to ensure its long-term success and sustainability.