1.Buying mode which requires additional participants at buyers and suppliers end is best classified as A. modified buyers B.modified task C.modified rebuy D.modified buy 2. Markets which include buying from manufacturers rather than intermediaries is classified as A. relative buyers B.price sensitive buyers C.business markets D.consumer markets 3. In modified rebuy, suppliers that see opportunities to expand business are classified as A. in-suppliers B.out-suppliers C.modified suppliers D.new suppliers 4. In new-task buying mode, business buyer makes the A. new decisions B.modified purchases C.fewest decision D.most of the decision 5. When customers are given with perspective that allows company to put its best services forward are classified as A. framing B.outsourcing C.off shoring D.selling

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1. Burns Boats wants to assemble 50 boats per eight-hour day, using a production line. Total task time for each boat is 45 minutes.

a. (*) What is the takt time? What is the theoretical minimum number of workstations needed?

b. (**) Suppose the longest individual task takes four minutes. Will Burns be able to accomplish its goal? Justify your answer.

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1. Bob’s lawn-mowing service is a profit-maximizing, competitive firm. Bob mows lawns for $27 each. His total cost each day is $280, of which $30 is a fixed cost. He mows 10 lawns a day. What can you say about Bob’s short-run decision regarding shutdown and his long-run decision regarding exit?

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1. Carefully considering an idea and weighing up the evidence supporting it to see if it is convincing. 2. Then being able to explain why you find the evidence convincing or unconvincing. It helps if you ask yourself a series of questions about the material you are reading. Try using these questions to help you think critically: ? Who is the author and what is their viewpoint or bias? ? Who is the audience and how does that influence the way information is presented? ? What is the main message of the text? ? What evidence has been used to support this main message? ? Is the evidence convincing; are there any counter-arguments? ? Do I agree with the text and why do I agree or disagree? Some ways to get more critical analysis into your essays Avoid unnecessary description – only include general background details and history when they add to your argument, e.g. to show a crucial cause and effect. Practice distinguishing between description (telling what happened) and analysis (judging why something happened). Interpret your evidence – explain how and why your evidence supports your point. Interpretation is an important part of critical analysis, and you should not just rely on the evidence “speaking for itself”. Be specific – avoid making sweeping generalisations or points that are difficult to support with specific evidence. It is better to be more measured and tie your argument to precise examples or case studies. Use counter-arguments to your advantage – if you find viewpoints that go against your own argument, don’t ignore them. It strengthens an argument to include an opposing viewpoint and explain why it is not as convincing as your own line of reasoning.

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1. Conduct a competitive forces analysis of the U.S. airline industry. What does this analysis tell you about the causes of low profitability in this industry?

2. Do you think there are any strategic groups in the U.S. airline industry? If so, what might they be? How might the nature of competition vary from group to group?

3. The economic performance of the airline industry seems to be very cyclical. Why do you think this is the case?

4. Given your analysis, what strategies do you think an airline should adopt in order to improve its chances of being persistently profitable?

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