The Value to Consumers That Comes from the Production or Alteration

question 132

Multiple Choice

The value to consumers that comes from the production or alteration of a product or service constitutes ________ utility.

• A)time
• B)place
• C)possession
• D)market
• E)form

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Definitions:

Standardization

The process of implementing and developing technical standards to ensure consistency, efficiency, and quality across processes, products, or systems.

Organizational Strategies

Comprehensive plans that outline how a business or organization will achieve its goals and respond to challenges in its internal and external environment.

Environmental Uncertainty

The amount and rate of change in the organization’s environment.

Organizational Design

The process of constructing and adjusting an organization’s structure to achieve its business strategy and goals.