Ma10 - managers a snapshot of where they are in their...

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15 Important Terms: 1. Experience Differentiation: Engaging the customer with a product through imaginative use of the give senses, so the customer experiences the product. 2. Differentiation: Distinguishing the offerings of an organization in a way that the customer perceives as adding value. 3. Competitive Advantage: The creation of a unique advantage over competitors. 4. Strategy: How an organization expects to achieve its missions and goals. 5. Mission: The purpose or rationale for an organization’s existence. 6. Characteristics of Services: Intangible, Production and consumption are simultaneous, Often unique, High customer interaction, Inconsistent product definition, Often knowledge-based, Frequently dispersed 7. Gantt Charts: A tool that facilitates the coordination of time and resources within systems by breaking projects into tasks and giving
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Unformatted text preview: managers a snapshot of where they are in their project. 8. State of Nature: An occurrence or a situation over which the decision maker has little or no control. 9. Alternative: A course of action or strategy that may be chosen by the decision maker. 10. Decision Tree: A graphical means of analyzing decision alternatives and states of nature. 11. Equally Likely: A criterion that assigns equal probability to each state of nature. 12. Decision Table: A tabular means of analyzing decision alternatives and states of nature. 13. Maximin: A criterion that finds an alternative that maximizes the minimum outcome. 14. Maximax: A criterion that finds an alternative that maximizes the maximum outcome. 15. 3 Sources of Productivity Gains: Labor, capital, and management...
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This note was uploaded on 01/28/2011 for the course MAN 4504 taught by Professor Benson during the Spring '08 term at University of Florida.

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Ma10 - managers a snapshot of where they are in their...

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