Saylor BUS300 Module 1 Course Materials/Study Guide Questions and Answers
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Course
World History Saylor
Institution
World History Saylor
Saylor BUS300 Module 1 Course
Materials/Study Guide Questions and
Answers
Opportunity Cost The overall cost of something missed; through deciding to do 'A', an
individual or organization incurs the opportunity cost of doing 'B'.
NPS Surveys Management tools that can be used to gauge the loy...
Three basic types of processes made-to-order, mass production, and mass customization
Made-to-order Involves goods that are customized to specific consumer requests, such as
signs made by print shops.
Mass production When large numbers of identical products are made at low cost and are
priced so that many customers can buy those goods.
Mass customization When large numbers of goods are produced at affordable prices, but
can also be tailored to meet individual customer preferences such as shoes and apparel, which
allow shoppers to make adjustments to meet their fit and taste requirements.
How services differ from manufactured goods Services are intangible, they can be
customized, and they are produced at the same time that they are consumed.
Decisions that need to be made for services The types of services being offered, how they
will be delivered, where they will be located, and how demand will be determined.
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