characteristics of manufacturing and service business Flashcards
1
Q
Goods/manufacturing
A
- Tangible
- Production and Consumption occur separately
- Products can be stored
- Products can be standardized
- Minimal Consumer contact
2
Q
Services
A
- Intangible
- Production and consumption occur simultaneously
- Difficult to store
- Often made to produce a specific need
3
Q
Similarities between manufacturing and service businesses
A
o Use technology o Deal with customers o Deal with suppliers o Aim to produce high-quality airport o Aim to reduce costs of production o Aim to reduce waste
