A Product Is

question 177

Multiple Choice

A product is

• A) a tangible good received in exchange for a person's time and effort.
• B) intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value.
• C) a good that has in some way been altered, combined, or improved and sold to organizational buyers.
• D) a thought that leads to an action such as a concept for a new invention.
• E) a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers' needs and is received in exchange for money or something else of value.

Distinguish between technology users and informed users, along with understanding the benefits of being an informed user.

Analyze the impact of IT on the transportation and travel industry.

Understand the roles involved in using and interfacing with hardware and software.

Define and differentiate between data, information, and knowledge.

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Definitions:

Hot-Stove Rule

A management principle comparing the consequences of misconduct to touching a hot stove, implying that discipline should be immediate, consistent, impersonal, and related to the offense.

Peer Review Technique

A method used to evaluate work or performance by one's equals (peers) to ensure quality, accuracy, or compliance with standards.

Hot-Stove Rule

A management principle suggesting that discipline should be immediate, clear, consistent, and impartial, similar to touching a hot stove.

Discipline Principle

A concept in management that emphasizes the importance of enforcing rules and maintaining order within an organization.