A study of the effect of business certification schemes on reducing the perceived risks on the side of the customer

Abstract

This dissertation aimed to study consumers’ perceived risk in relation to business certification programs, through a questionnaire answered by 203 people from around the world. Citing a broad theoretical framework based on the existing literature on perceived consumer risk examined, the dissertation explores how consumers could achieve complete satisfaction when purchasing a product/service, to first examine whether the product/service comes from systems business certification. The development of consumer attitude towards perceived risk may be based on the opportunities offered by the change in consumer strategy towards business certification schemes. The search for an adaptation strategy involves changing the consumer's abilities to better adapt to the opportunities presented. Understanding a consumer aptitude is also crucial from another aspect. Consumer skills to perceive risk can be at the forefront of the development of a superior decision-making ability. By utilizing essential talents, new opportunities might be generated. Consumers may lack basic abilities since they may not comprehend why they need to be informed about business certification programs. It is critical to understand this before purchasing a product or a service. Therefore, the role played by unique resources and key competencies is important for the long-term contribution. On the one hand, the ability to codify knowledge removes barriers to imitation and undermines fundamental skills. On the other hand, it is difficult to codify certain types of knowledge, such as intuition and experience, which are common knowledge based on interactions with business certification systems. In this way, knowledge and experience with perceived risk can serve as a foundation for improved market decision-making. Pursuing the right focus on behaviour can be difficult when it is part of a consumer's overall mentality. However, consumer behaviour either through business certification programs or through diversification costs focuses on a specific market segment and meets the needs of specific customers that are not covered by costs or diversification.