A Small Flower Shop Takes Orders by Phone and Then

question 16

Multiple Choice

A small flower shop takes orders by phone and then one of the staff florists is assigned to prepare the arrangement.The time it takes to process phone orders is normally distributed
With a mean of 6 minutes and a standard deviation of 2.5 minutes.The time it takes for an
Arrangement to be completed is normally distributed with a mean of 35 minutes and a
Standard deviation of 8.6 minutes.What is the probability that it will take more than 50
Minutes to process a phone order and complete the floral arrangement at this flower shop?

• A)0.8413
• B)0.3413
• C)0.2167
• D)0.1587
• E)0.6843

Comprehend the difference between effectiveness and efficiency in organizational processes.

Understand the role of business process improvement (BPI) and business process reengineering (BPR) in organizational change.

Recognize the importance of competitive forces and the value chain model in strategic planning.

Understand how different industries face varied threats and opportunities.

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Definitions:

Partnership

A formally recognized business venture in which a group of individuals share in the leadership and the financial benefits.

Business Organization

A structured entity set up by individuals or shareholders to engage in business activities, usually for profit.

Death Of A Partner

An event in a partnership business that triggers the need to re-evaluate and possibly restructure the business agreement due to the passing away of one of the partners.

Remaining Cash

The amount of cash a business has available after all expenses and liabilities have been paid.