What refers to technology tools information and physical facilities?

What refers to technology tools information and physical facilities?

Technology, tools, information, and physical facilities for the operation of a business are examples of: CAPITAL.

What is the factor of production that includes technology tools information and physical facilities?

In contrast to natural resources, capital is a resource that has been produced but is also used to produce other goods and services. This factor of production includes machinery, tools, equipment, buildings, and technology.

What four rights are critical to the operation of capitalism?

The four rights that are critical are private property, competition, profits, and freedom of choice. Capitalism would function poorly in a society that does not ensure these rights for its citizens. This is because the system minimizes government interference in economic activity.

Is the ability to perceive marketplace needs?

An organizations technology, tools, information, and physical facilities. Ability to analyze and assess information to pinpoint problems or opportunities. Vision. The ability to perceive marketplace needs and what an organization must do to satisfy them; perception of marketplace needs and ways a firm can satisfy them.

Which of the following best distinguishes the philosophy of the marketing era?

Which of the following BEST distinguishes the philosophy of the marketing era from the philosophy of the production era? The marketing era was more consumer oriented.

Which refers to the collection of activities that build and maintain ongoing mutually beneficial ties with customers and other parties?

Relationship management. The collection of activities that build and maintain ongoing, mutually beneficial ties with customers and others parties.

What are the 4 factors of production?

Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship. The first factor of production is land, but this includes any natural resource used to produce goods and services. This includes not just land, but anything that comes from the land.

Who makes the decisions in capitalism?

“Means of production” refers to resources including money and other forms of capital. Under a capitalist economy, the economy is substantially run by individuals who own and operate private companies. Decisions over the use of resources are made by the individual or individuals who own the companies.

What are the foundations of capitalism?

Central characteristics of capitalism include capital accumulation, competitive markets, a price system, private property and the recognition of property rights, voluntary exchange and wage labor.

What is the most basic freedom under the private enterprise system?

Most basic freedom under the private enterprise system; the right to own, use, buy, sell, and bequeath land buildings, machinery, equipment, patents, individual possessions, and various intangible kinds of property.

What is the unique combination of organizational abilities products and approaches that sets a company apart from competitors in the minds of consumers?

Chapter 1

What makes up the physical environment of a business?

The physical environment of a business consists of natural and man-made components. The natural components include the atmosphere, land, water, weather, and vegetation. A comprehensive list of the man-made components would be quite extensive. However, it would include such things as all business facilities, equipment and transportation systems.

What do you mean by technology in operations management?

__________refers to equipment and devices that perform a variety of tasks in the creation and delivery of goods and services. __________refers to using the Internet and technology to provide facilities that create and deliver time, place, information, entertainment, and exchange value to customers and support the sale of goods.

Which is the following is a benefit of using technology?

The use of technology has increased opportunities for employee creativity and empowerment. Which of the following is a benefit of using technology? human service providers in firms. It increases quality and productivity of firms. It increases opportunities for employee empowerment.

Which is an example of soft technology in operations management?

_____ allows all parts of the value chain to immediately recognize and react to changes in demand and supply. A (n)__________is an example of soft technology. Nice work! You just studied 55 terms! Now up your study game with Learn mode. _____ allows all parts of the value chain to immediately recognize and react to changes in demand and supply.