You have just been hired to manage an IHOP restaurant. How would you use the four building blocks of competitive advantage to increase your restaurant's market share?
What will be an ideal response?
The four building blocks of competitive advantage are superior efficiency; quality; speed, flexibility, and innovation; and responsiveness to customers. In today's competitive environment, organizations must continually search for new ways to use their resources to improve efficiency or gain competitive advantage by providing new or improved goods or customer services and by being responsive to customer needs. Student answers will vary but should demonstrate an understanding of the concepts. Students may discuss the need for the company to create systems that ensure that customers get correct orders quickly; innovate the menu and the customers' experience to keep them coming back; and provide ways to address a highly diverse society's demands for a sit-down eating establishment in an age of fast and quick serve establishments.
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The ability to create an effective visual aid, or effectively interpret the meaning of a visual aid is called what?
A) Visual competency B) Visual literacy C) Axis awareness D) Design awareness E) Data visualization
A pulley system has a mean time between failures of 273 hr and mean time to repair of 16 hr. In this case, the availability is ______.
A. 0.945 B. 0.970 C. 0.900 D. 0.910
The statement, "The finest hospitals in the country are using this neonatal incubator," is an example of a(n):
A. prestige suggestion. B. counter suggestion. C. autosuggestion. D. direct suggestion. E. suggestive proposition.
On January 1, a business exchanged a plant asset with a book value of $1,500 for a similar asset that had a list price of $23,000 . The business received a trade-in allowance of $2,100 for the old plant asset. The exchange resulted in:
a. a gain of $600 on the disposal of a plant asset. b. an unrecognized gain of $1,000 on the exchange of a plant asset. c. a cost basis of $22,400 for the new plant asset. d. a cost basis of $20,600 for the new plant asset. e. a credit to accumulated depreciation of $21,500.