The Savvy Entrepreneurial Firm Feature in Chapter 11 Focuses on Airbnb

question 45

Multiple Choice

The Savvy Entrepreneurial Firm feature in Chapter 11 focuses on Airbnb, the company that created a marketplace for people to list, discover, and book unique spaces in people's homes or apartments while traveling. According to the feature, Airbnb was able to generate substantial buzz about its service via the use of ________.

• A) Facebook
• B) Google AdSense
• C) blogs
• D) newspaper ads
• E) Twitter

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Definitions:

Operations

The day-to-day activities involved in the running of a business for the purpose of producing value for the stakeholders, covering everything from manufacturing to administration.

Economic Order Quantity

Economic Order Quantity (EOQ) is a formula used to determine the optimal quantity of inventory to order that minimizes total inventory costs, including holding and ordering costs.

Inventory System

A process or software used for tracking goods and materials held by a business, managing stock levels, orders, sales, and deliveries.

Productivity

The measure of the efficiency of a person, machine, factory, system, etc., in converting inputs into useful outputs.