List and briefly describe five differences between services and manufacturing. Provide examples to illustrate your arguments
What will be an ideal response?
Manufactured Goods Services
Physical, durable products Intangible, perishable products
Output can be produced, stored, and transported Can't be produced and stored
Low customer contact Customers can be part of the input and part of the process
Have days to deliver Must be offered within minutes
Regional, national, or international markets Local markets
Large facilities Small facilities
Capital intensive Labor intensive
Quality easily measured Quality not easily measured
Examples will vary.
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Late-mover advantages (or first-mover disadvantages) are not likely to arise when
A. the costs of pioneering are much higher than being a follower and only negligible learning/experience benefits accrue to the pioneer. B. opportunities exist for a blue-ocean strategy to invent a new industry or distinctive market segment that creates altogether new demand. C. technological change is rapid, and fast-following rivals find it easy to leapfrog the pioneer with next-generation products of their own. D. the pioneer's products are somewhat primitive and are easily bested by late movers. E. the marketplace is skeptical about the benefits of a new technology or product being pioneered by a first mover.
Bonita Hanks lives in Bastrop Valley, California. She has applied for a mortgage loan for purposes of buying a larger home there. The loan officer at the bank explains to the bank employee who took the application that there would be no loans to people in Bastrop Valley. The loan officer explained, "Are you aware of how many people in Bastrop Valley fail to make their payments? That's a
bottomless pit out there. No one out there is getting any credit from this bank. Even insurance companies don't write policies out there." Basing a decision to extend credit based on residence is: A)?A violation of the Equal Credit Opportunity Act. B)?Sound credit extension analysis. C)?An example of permissible criterion for screening credit applicants. D)?A violation of TILA.
Which of the following is not an example of primary data?
a. Data published by the United States Bureau of Census. b. Data published by Statistics Canada. c. Data published by the New York Stock Exchange. d. Financial data tapes that contain data compiled from the New York Stock Exchange.
A well-designed ________ can be more flexible than separate files
A) data dictionary B) data warehouse C) data model D) database