List and briefly describe the major approaches to service distribution
What will be an ideal response?
a. Company-Owned – The large advantage of company-owned stores is that the firm controls the customer experience and, thus, the brand. The large disadvantage is the financial risk that must be borne and the resulting limitation of the number of outlets that one individual brand can have in the world.
b. Franchising – a contractual agreement between originator of the service concept and an individual or organization that provides retail distribution for the service.
c. Agents and brokers – major advantages of using agents and brokers is a wider distribution and the fact that agents and brokers know their local markets well.
d. Electronic channels – the advantages of electronic channels are their low cost and the ease of access (for those with Internet connections).
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A) hamburger and cheeseburger B) hamburger and apple pie C) Coke and Diet Coke D) A and C E) all of the above
The provision of dual listing of stocks has defeated the efforts made to increase competition in the stock markets.
Answer the following statement true (T) or false (F)
A limited partnership is a hybrid between a(n) ____________________ and a partnership
Fill in the blank(s) with correct word
Answer the following statement(s) true (T) or false (F)
1. Compared to the problems in the textbook, real-world problems generally require more variables and constraints. 2. For the multiperiod production scheduling problem in the textbook, period n ? 1's ending inventory variable was also used as period n's beginning inventory variable. 3. A company makes two products, A and B. A sells for $100 and B sells for $90. The variable production costs are $30 per unit for A and $25 for B. The company's objective could be written as: Max 190x1 ? 55x2. 4. The primary limitation of linear programming's applicability is the requirement that all decision variables be nonnegative. 5. A decision maker would be wise to not deviate from the optimal solution found by an LP model because it is the best solution.