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The time between a customer placing an order and receiving the product or service. The Royal Bank of Scotland's Direct Line insurance division revolutionised the UK's motor insurance industry, and in the process proceeded from start-up in 1986 to become the largest motor insurer in less than ten years. This was achieved by introducing an operation which cut out the insurance broker traditionally employed, and the associated delay in providing quotations. Instead, the customer transaction is conducted directly by telephone, and, following the answering of a short series of questions, a competitive quotation is given immediately. If the quotation is acceptable to the customer, the provision of a credit card number allows insurance cover to begin without further delay.
Can you provide examples of voluntary boundaries, core practices, and mandated boundaries in various industries? Why do the boundaries you identify fit within each category?
1. The annual demand for a product is 8,000 units. The order cost is $30 for a single order. The cost of the item is $10 and the holding cost has been calculated at $3 to carry one
You must choose between two passive investments. Investment A requires an initial investment of $50,000 but will return $71,000 in three years. Investment B requires an initial inv
How is the chase demand strategy opposite of level capacity? Chase demand strategies: Chase demand strategies are the totally opposite of level capacity in which the orga
Analyze the different approaches to innovation discussed in this chapter to determine which approach you think would be the greatest value to the greatest number of organizations.
A firm uses a serial assembly system and needs answers to the following- a. A desired output of 900 units per shift (7.5 hours) is desired for a new processing system. The syst
You are the Vice-President of Manufacturing for a company which manufactures small personal appliances. Your R & D department has designed a revolutionary, new type of electric t
1. What are the three requirements which must simultaneously be met when designing jobs? Answer: Technical, economic and behavioural feasibility.
Nielsen ratings are very important to both advertisers and television programmers because the cost of television advertising time is based on this rating. A show's rating is the nu
Do you think leadership is more important in today's flatter, team based, employee empowered organizations? Why or why not?
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