Today, Many Tangible Products Include Aspects That Impact the Customer's

question 16

Multiple Choice

Today, many tangible products include aspects that impact the customer's satisfaction before and after the purchase. These aspects that complement the tangible features of a product are called ________.

• A) physical aspects
• B) core competencies
• C) monetary characteristics
• D) intangible characteristics
• E) essential benefits

Grasp the concept of coordination in organization and its importance in achieving consistency.

Understand the effects of functional specialization on quality, change management, and inter-functional coordination.

Know about horizontal and vertical specialization and their implications for departmentalization and division of labor.

Comprehend the principles behind various organizational designs including simple design, adhocracy, and bureaucracy.

---

Definitions:

Liabilities

Financial obligations or debts owed by a business to external organizations or individuals.

Accrued Revenues

Assets (receivables) created when revenues are earned, but cash will be collected from customers in the future; created at end of period during the adjustment process to reflect the amount of revenue earned by providing goods or services over time to customers who will pay in the future.

Stockholders' Equity

The residual interest in the assets of a corporation after deducting its liabilities, representing the owners' claim on the company assets.

Assets

Resources owned by a company from which future economic benefits are expected to flow to the company.