ABSTRACT
This age-old joke nicely illustrates that education has two core processes: teaching and learning.
The fact that value is created through processes that intensively involve both the ‘‘customer’’
(student) and the ‘‘supplier’’ (teacher) is highly significant. There are few domains in which
customer involvement is so strong and the value creation process is to a substantial extent taking
place in an environment (inside a student’s mind, his or her home, the playground, etc.) that is
outside the view and direct control of the supplier.
