Question:
Please help with this question
1. Which is NOT true regarding differences between goods and services?
Most goods are common to many customers; services are often unique to the final customer.
Tangible goods are generally produced and consumed simultaneously; services are not.
Services tend to have higher customer interaction than goods.
Services tend to have a more inconsistent product definition than goods.
None, i.e., all of these are true.
Answer
Tangible goods are generally produced and consumed simultaneously; services are not.
Explanation
Tangible goods are generally produced and consumed simultaneously; services are not. - This statement is not true,
Tangible goods can be stored after production. Services are produced and consumed simultaneously. For a tangible good, the production begins early before there is any contact with the customer, packaged and transported to the customer. A service is provided to the customers as it is produced.
Question:
If a manager implements a program to lower employee turnover based on what other companies are doing, he/she is practising evidence-based management.
Question 68 options:
True or False
Answer
True
Explanation
The basic idea behind evidence-based practice is that a good-quality decision involves a combination of critical thinking and best evidence available. This entails the extent to which the manager can evaluate the evidence at hand, to identify any possible additional evidence that can be applied to the decision. By using a program that is used by other companies to lower employee turnover, the manager is applying evidence-based practice.
Question:
Rodney has just accepted a job offer and he already feels a sense of legal and psychological ownership in his new organization. What pay plan does Rodney's new organization offer employees?
Question 50 options:
Gain-sharing
Profit sharing
ESOPs
Skill-based pay
Lump sum bonus
Answer
Gain sharing
Explanation
The type of pay that creates a psychological ownership to the employees is gain-sharing. Gain-sharing tells the employees what they need to do so as to hit the overall targeted performance level. This helps drive employee and organizational performance in general. With this program, employee know exactly what is driving the bonus, which creates a sense of ownership to the employees, helping create group work and improve productivity.
