Notes, summaries, assignments, exams, and problems for Other subjects

Business Planning Fundamentals

Planning is the process of deciding in advance what to do and how to do it. It's a core managerial function that involves setting objectives and developing a course of action to achieve them.

Importance of Planning

• Provides clear directions
• Reduces risks and uncertainty
• Minimizes overlapping and wasteful activities
• Promotes innovative ideas
• Facilitates decision-making
• Establishes standards for controlling

Key Features of Planning

• Focuses on achieving objectives
• Primary function of management
• Pervasive, continuous, and futuristic
• Involves decision-making
• A mental exercise

Stages of the Service Marketing Research Process

Complaint Solicitation

A method of communication to improve services by gathering customer feedback.

Critical Incident Studies

Qualitative interviews where customers share stories of satisfying and dissatisfying service encounters.

Requirement Research

Identifying the expected benefits and attributes customers desire in a service.

Relationship and SERVQUAL Surveys

Questionnaires assessing the customer-company relationship to identify strengths and weaknesses.

Trailer Calls or Post-Transaction Surveys

Brief surveys conducted immediately after a transaction to capture key service encounter information.

Service Expectation Meetings and Reviews

Eliciting client expectations at a specific time and later assessing... Continue reading "Service Marketing Research: Process, Relationships, and Recovery" »

Characteristics of Wireless Communication

• Information is sent and received using areal, infrared light, or ultrasound signals.
• The waves are propagated through space at the speed of light.

Characteristics of a Wave

1. Amplitude: The maximum value that a wave can reach, which depends on the wave's energy. The value diminishes with distance and is measured in meters.
2. Frequency: The number of times the wave oscillates per second, measured in Hz.
3. Period: The time it takes for the wave to complete a cycle, measured in seconds.
4. Wavelength: The distance it takes for a wave to complete a cycle, measured as the distance between two crests.

Electromagnetic Spectrum

The electromagnetic spectrum encompasses all electromagnetic waves from low to high frequency.

Frequency

Nowadays, online learning is becoming increasingly prevalent. Many traditional universities have started to share their courses online, often for free. It represents an accessible and comfortable method to acquire knowledge in almost every field, from law and accounting to humanities, such as psychology, sociology, and history. Online learning is a great alternative to traditional universities, especially for people who cannot afford the time and financial commitment of traditional courses. But what are the advantages and disadvantages of online learning?

Benefits of Online Learning

Although many still consider traditional universities the optimal path to knowledge and a diploma, online learning proves to be a powerful alternative. Students have... Continue reading "Online Learning: Unpacking Its Benefits and Drawbacks" »

Problem #6-1: 

A bank has set a Standard that mortgage applications be processed within a certain number of days Of filing.  If, out of a sample of 1000 Applications, 75 fail to meet this requirement, what is the epmo metric? 

75 errors per Thousand is equivalent to 75000 epmo. 

Problem #6-2: 

Over the last year, 965 injections were administered at a clinic.  Quality is measured by the proper amount of dosage as well as the Correct drug.  In two instances, the Incorrect amount was given, and in one case, the wrong drug was given.  What is the epmo metric?

DPMO = EPMO = [ (# of defects or errors) / (# of opportunities For error)*(# of units) ] x 1,000,000

EPMO = [ (3) / (2)*(965) ] x 1,000,000 = 1554

Problem #6-3: 

Make a check sheet and then... Continue reading "Mercator chart" »

Understanding Quality

Quality is a subjective subject; it can be clustered into five quality points of view:

1. Internal processes
2. Business performance
3. Product/service characteristics
4. Customer perception
5. Company strategy

Quality Planning – The process of identifying the quality standards relevant to the project and deciding how to meet them.

Quality Improvement – The purposeful change of a process to improve the confidence or reliability of the outcome.

Quality Control – The continuing effort to uphold a process’ integrity and reliability in achieving an outcome.

Quality Assurance – The systematic or the planned actions necessary to offer sufficient reliability that a particular service or product will meet the specified requirements.

What is Quality?

Unit 10: Marketing Fundamentals

"Marketing is the social process by which individuals and groups obtain what they need and want, through creating and exchanging products and value with others." This involves exchange, satisfaction, strategy, vision, and direction (avoiding marketing myopia).

Marketing Defined

Marketing is the business discipline responsible for detecting the wishes and needs of consumers and guiding the company to satisfy them through mutually beneficial exchanges.

Core Principles

• Values (Business Ethics): The set of principles, beliefs, and rules that dictate how the organization will be managed.
• Mission (Based on field of activity, essential capabilities, and culture, including values and beliefs): Answers questions like: Who are

Juran's Contributions to Quality

1. Who Defined Quality as an Adequacy for Use?

R= Juran

2. According to Juran's Definition of Quality, Who Determines Product Quality?

R= The customer

3. What Was Juran's Constant Focus?

R= The pursuit of optimal quality

4. What Are the Five Quality Characteristics According to Juran?

R=

• Technology
• Psychology
• Time-oriented
• Contractual
• Ethical

5. What Are the Six Steps to Troubleshooting?

R=

1. Identify the project
2. Establish the project
3. Diagnose the cause
4. Remedy the cause
5. Hold the gains
6. Replicate results and nominate future projects

Deming's Philosophy

6. Who Revised His Philosophy on Quality Management?

R= Deming

7. Who Is Remembered for His Fourteen Points?

R= Deming

8. What Are the First Two Deadly Diseases of Western Management According