quiz 1 Flashcards
(35 cards)
what are the 4 pillars of management? whats the 5th extra pillar?
planning :determining goals and ways to archive them
organizing:combining and allocating resources available
leading:overseeing and influencing staff behavior to reach the goals
controlling:monitoring progress to reach goals
+ VALUES: how the business adds on value
what is GDP? define/explain it
-efficiency of a country
- gross domestic product
-measures the value of goods and services produced in a country
-most common measure
define each of the distinctive characteristics of services:(5)
(CHIPS )
1.Simultaneity:services are consumed simultaneously as provided, opportunities for personal selling, interaction
creates customer perceptions of quality (ex when theres product near cashier, screen in gas stations)
2.Perishability:cant be stored for later use. cannot inventory, opportunity loss of idle
capacity, need to match supply with demand
- Intangibility:creative advertising, no patent protection,
importance of reputation - heterogeneity: customer involvement in delivery process
results in variability( isn’t standardized or the same)
5.customer participation in the service process:attention to facility design, opportunities for co-production,
concern for customer and employee behavior (a common problem)
Variability what is variance/variation? because of this why is heterogeneity a problem?
-Waking up 6am vs 6:30am(thats ex of variation
Everything in the world has variation, it exists everywhere, we need to control variation
-Thats the problem with heterogeneity, u need to control variability and have them participate (amazon customer logging in)
every service has a ______
service package
define the service package (5/6 parts)
- supporting facility: The physical resources that must be in place before a service can be sold. (Ex are golf course, ski lift, hospital, airplane)\
2.information: Operations data or information that is provided by the customer to enable efficient and
customized service. (Ex are patient medical records, seats available on a flight, customer preferences, location of customer to dispatch a taxi)
3.facilitating goods: The material consumed by the buyer or items provided by the consumer. (Ex are food items, legal documents, golf clubs, medical history)
4.implicit services: Psychological benefits or extrinsic
features which the consumer may sense only vaguely. (Ex are privacy of loan office, security of a well lighted parking lot. taco stand doesnt have implicit so it doesnt have a full service package)
- explicit services:Benefits readily observable by the
senses. The essential or intrinsic features. (Ex are quality of meal, attitude of the waiter, on-time departure.or a taco) - service experience ?
What is Village Volvo about and does it have a service package?/ if it does describe it (What is this case,do they have a service package,)
- They provide a repair service to customers in the suburbs. Provide a middle man who does the communication between customer and mechanic to make appointment flow. They have drop ins. Want to provide uber/lyft credit to accommodate customers and keep them in, as well as a lounge that includes tv,etc to keep them busy.They have feedback after the appointment. Make sure everything is working before car is returned to customer
- “Village volvo has a complete service package “
village volvo questions:
How are the distinctive characteristics of a service firm illustrated by Village Volvo?
How could Village Volvo manage its back office (i.e., repair operations) like a factory?
How can Village Volvo differentiate itself from Volvo dealers?
Do you think the lack of alternate transportation is a disadvantage given the availability of ride-sharing services such as Uber and Lyft?
1.Customer participation creates loyalty
2.Dealing with same problems each day
Reuse not complete parts
3.Offer cheaper rates than other dealerships
Customer care, record , prioritizing longevity
4.Prob not cuz it will cause the rise in cost, working with lyft
what does “how will they disrupt mean?” how would village volvo disrupt in their case?
(Disruption can also mean improve)
Dealer can record while dealing it
Get better rentals or discounts
Work with triple a
Same thing but another brand
3whats a service?
-service are deeds,processes and performances,
-intangible experience performed for a customer acting in the role of a co producer
-Service is time perishment {( ex: fast food)
4 what are service enterprices?what do they do, what of the 5 pillars do they include as well?
-service enterprises are orgs that facilitate production and the dist of goods, as well as support other firms in meeting their goods
-they also add VALUE to peoples personal lives .Value is very critical, how will u differentiate your restaurant
5 Can a country survive without manufacturing their products ? (part of discussion) Can a country survive with only service?
-Majority of our medicine are made of china
-Toyota survived cuz japan after the tsunami caused them to change
-Many countries are getting away from manufacturing their products
-some countries already survive with services, like new zealand
6what are some roles of services in an economy (8)
Services are everywhere , this is why the US is 80% in services
- financial services(financing/leasing/insurance)
-infrastructure service(comm,transportation,utility)
-manufacturing(accounting/legal/research & dev)
-business services(auditing/consulting/advertise)
-govt service(military/edu/jusicial/police/fire dep)
-distribution services(wholesaling/retail/repair)
-consumer (self service)Online edu is a service
-personal service(healthcare/restaurant/hotel)
7 what are the stages of economy activity(pyramid/5 levels)
top: quinary(extending human potential:health,edu,research,arts,recreation)
below:Quaternary(trade and commerce) transportation,comm,retail,financing,goct
below:Tertiary(dom service)restaurant,hotal,laundry,maintenence
below:Secondary(goods producing)manu,processing
bottom:Primary(extractive) agriculture.mining,fishing,forestry
8 what are the historical trends in the US employment in our case? what has happened to service v manuv agriculture
Employment in service has skyrocketed
80% and continues to rise
manu has decreased, agriculture too
10 what did COVID cause in terms of service, did covid initiate more services?
Covid changed everything,
It did inititiate more services
Covid sparked new industries like food delivery, work from home but declining now
-there was still a service recession
15 How do u make a service unique ?(5)
Services have to be designed for the customers and keep them in
- theme the experience
-hamornize impressions with positive cues
-eliminate neg cues(cinemark talking trash containers)
-mix in memorabilia(hard rock tshirts
-Stimulate the 5 senses (4d movies ,rainforest cafe)
17 what are some foundation premises of service dominant logic
1.service is fundamental basis of exchange
2. indirect exchange masks the basis of exchange
3. all economies are service economies
6. customer is always the co creator of value
7.enterprise can only offer value prop
8.service must be customer oriented
10“Value is uniquely determined by the beneficiary” because one value varys from person to person makes business owner know how to put it together, initiate a value proposition to capture customer and their feedback
18what are distinctive characteristics of services (5)
Simultaneity:ex when theres product near cashier, screen in gas stations
Customer Participation in the Service Process (common problem)
Variability what is variance/variation? Waking up 6am vs 6:30am(thats ex of variation
Everything in the world has variation, it exists everywhere, we need to control variation
Thats the problem with heterogeneity, u need to control variability and have them participate (amazon customer logging in)
21 every service must have a ____ ;define service package;what are its 5 parts;whats a business ex of a service p that we talked abt
-Every service must have a service package
-includes: supporting facility, information,facilitating goods,information,explicit services,implicit services,service experience
Taco stand example on 2nd and pch; they have their own service package
22 define supporting facility, facilitating goods, information, explicit service,implicit service,(what are their examples)
Supporting Facility: The physical resources that must be
in place before a service can be sold. Ex:are golf
course, ski lift, hospital, airplane.
Facilitating Goods: The material consumed by the buyer
or items provided by the consumer. Ex:food
items, legal documents, golf clubs, medical history.
Information: Operations data or information that is
provided by the customer to enable efficient and
customized service. Ex: patient medical records, seats available on a flight, customer preferences, location of customer to dispatch a taxi
Explicit Services: Benefits readily observable by the
senses. The essential or intrinsic features. Ex:are
quality of meal, attitude of the waiter, on-time departure.( smth obvious, taco themselves is explicit)
Implicit Services: Psychological benefits or extrinsic
features which the consumer may sense only vaguely.
Ex: are privacy of loan office, security of a well
lighted parking lot.taco stand doesnt have a complete service package as they dont have a implicit service
chapter 2 whats a strategy? whats csulbs strategy? whats the ex of a prior student he had?
having a goal but u must have a deadline,
long beach 2030 billion/million dollars strategy,part of the strategy to increase graduation and enrollment, having everyone involved in strategy.
Past student didnt know strategy of her company. Must know what the reason of existence for the business . for long beach is to increase graduation and enrollment.without strategy u cant survive cuz where would u go in business. U have to propagate strategy throughout the organization
whats the hot cheeto example in terms of strategy
the company owner accepted the janitors suggestion of creating flamin hot cheetos
slide 3 what are strategic service vision target market segments?
-you have to identify target market
-know what your specific audience is or market
Half the world doesnt like iphone/android
“I am going to focus on hispanic males 18-24” “left handed would be a segment”
Have to clearly define the market for the service/whether its service,etc”
