Productivity in Service-Related Businesses Has Not Grown as Rapidly as in Manufacturing

question 55

Multiple Choice

Productivity in service-related businesses has not grown as rapidly as in manufacturing businesses because service businesses are ______.

• A) more capital intensive
• B) more labor intensive
• C) less labor intensive
• D) more expensive to operate

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Definitions:

Statistical Techniques

The mathematical methods used to collect, analyze, interpret, and present data, often for the purpose of making informed decisions or predictions.

Break-Even Analysis

Calculates the point at which revenues cover costs under different ‘what if’ conditions. The break‐even point is where revenues = costs.

'What-If' Scenarios

Analytical tools used to evaluate the potential outcomes of different decisions or events.

Total Quality Management

An organizational management philosophy aimed at embedding awareness of quality in all organizational processes.