Describe the difference between functional areas of operation and business processes. Give an example of a business process
Most companies have four main functional areas of operation. Each area comprises a variety of narrower business functions, which are activities specific to that functional area of operation.
Recall that a business process is a collection of activities that takes one or more kinds of input and creates an output that is of value to the customer.
Thinking in terms of business processes helps managers to look at their organization from the customer's perspective. For example, suppose that a customer wants to purchase a new computer.
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An increasing number of retailers and wholesalers have created their own ________, also called store brands
A) national brand B) support brand C) private brand D) generic brand E) manufacturer's brand
Customer service policies will likely consider all of the following except?
a. Guarantees b. Warranties c. Performance standards d. Pricing
Which of the following approaches to preparing an income statement includes a calculation of the gross margin? TraditionalApproachContributionApproachA)YesYesB)YesNoC)NoYesD)NoNo
A. Choice A B. Choice B C. Choice C D. Choice D
Many retailers established finance companies to provide financing for their customers. Although these finance subsidiaries did increase sales, the subsidiary was typically unprofitable
Indicate whether the statement is true or false