Busad 250 - Study guides, Class notes & Summaries

Capacity planning - correct answer establishing the overall level of resources needed to meet customer demand Critical path - correct answer in a PERT network diagram, the sequence of operations that requires the longest time to complete Customized production - correct answer the creation of a unique good or service for each customer Inventory - correct answer goods and materials kept in stock for production or sale Inventory control - correct answer determining the right quantities ...

Non-profit Organizations Answer Do not have a profit motive Goods-producing Business Answer Create value by "making" things, tangible or having physical existence Service Businesses Answer Create value by performing activities that deliver some benefit to the customer Business Model Answer a concise description of how a business intends to generate revenue Competitive Advantage Answer makes you more appealing to your target audience Barrier to Entry Answer any resource or capabi...

Busad 250 Exam 3 Practice Questions and Answers...

Business - correct answer Any profit-seeking organization that provides goods and services designed to satisfy customers' needs. Revenue - correct answer Money a company brings in through the sale of goods and services. Business Model - correct answer A concise description of how a business intends to generate revenue Profit - correct answer Money left over after all the costs involved in doing business have been deducted from revenue. Competitive Advantage - correct answer Some asp...

the 3 types of businesses - correct answer Goods producing businesses Service businesses Not for profit organizations Companies that create value by making "things," most of which are tangible (capital intensive) - correct answer Goods producing businesses Companies that create value by performing activities that deliver some benefit to customers (labor intensive) - correct answer Service businesses Organizations that provide goods and services without having a profit motive; these ...