Podcast
Questions and Answers
Which of the following is an example of disruptive innovation that created a completely new industry?
Which of the following is an example of disruptive innovation that created a completely new industry?
What characteristic defines something as a disruptive innovation?
What characteristic defines something as a disruptive innovation?
Which of the following innovations is primarily focused on enhancing traditional experiences rather than creating new ones?
Which of the following innovations is primarily focused on enhancing traditional experiences rather than creating new ones?
Which of these innovations is NOT typically classified as a disruptive innovation?
Which of these innovations is NOT typically classified as a disruptive innovation?
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Which innovation is considered a significant disruptor in the hospitality industry?
Which innovation is considered a significant disruptor in the hospitality industry?
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Which of the following best describes the relationship between a service and a product?
Which of the following best describes the relationship between a service and a product?
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What aspect is NOT typically included under service delivery modes?
What aspect is NOT typically included under service delivery modes?
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Which factor is crucial for understanding market demand in service development?
Which factor is crucial for understanding market demand in service development?
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Which statement regarding regulations in service development is false?
Which statement regarding regulations in service development is false?
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What is one primary reason for the importance of Intellectual Property Protection in service development?
What is one primary reason for the importance of Intellectual Property Protection in service development?
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Which service is NOT classified under the main service sectors offered by Trios College?
Which service is NOT classified under the main service sectors offered by Trios College?
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What type of service involves the outsourcing of business-related tasks to third-party companies?
What type of service involves the outsourcing of business-related tasks to third-party companies?
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What distinguishes services from tangible goods in trade?
What distinguishes services from tangible goods in trade?
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Which of the following statements about the valuation of services is correct?
Which of the following statements about the valuation of services is correct?
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Which of the following is included in the types of services offered by Trios College?
Which of the following is included in the types of services offered by Trios College?
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Which of the following types of services is primarily focused on outsourcing specific business tasks to a third party?
Which of the following types of services is primarily focused on outsourcing specific business tasks to a third party?
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How does the service design process differ when considering international trade?
How does the service design process differ when considering international trade?
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Which sector is primarily concerned with providing assistance in business operations?
Which sector is primarily concerned with providing assistance in business operations?
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Which sector is NOT listed as a main service sector?
Which sector is NOT listed as a main service sector?
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Which service type generally involves high-level analytical and research capabilities?
Which service type generally involves high-level analytical and research capabilities?
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What is a key aspect of the fundamental service design process?
What is a key aspect of the fundamental service design process?
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Which type of service generally includes technology-driven support and infrastructure?
Which type of service generally includes technology-driven support and infrastructure?
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Why are services considered essential in satisfying identified needs?
Why are services considered essential in satisfying identified needs?
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Which of the following is a characteristic of Knowledge Process Outsourcing (KPO)?
Which of the following is a characteristic of Knowledge Process Outsourcing (KPO)?
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Which of these service sectors typically contributes to tourism services?
Which of these service sectors typically contributes to tourism services?
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What is the primary characteristic of service providers along the spectrum?
What is the primary characteristic of service providers along the spectrum?
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Which aspect is essential for effective service development?
Which aspect is essential for effective service development?
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What best describes the continuum in most businesses regarding service and products?
What best describes the continuum in most businesses regarding service and products?
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Why is understanding the service-product relationship considered significant?
Why is understanding the service-product relationship considered significant?
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What is a common misconception regarding service providers?
What is a common misconception regarding service providers?
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Which factor is NOT likely to influence the market entry strategy of a service offering?
Which factor is NOT likely to influence the market entry strategy of a service offering?
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What is a potential impact of market entry strategy on service design?
What is a potential impact of market entry strategy on service design?
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Which statement accurately reflects the relationship between market entry strategy and service delivery models?
Which statement accurately reflects the relationship between market entry strategy and service delivery models?
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Which of the following best explains how international clients are affected by market entry strategy?
Which of the following best explains how international clients are affected by market entry strategy?
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In what way does the schedule of commitments impact market entry strategy?
In what way does the schedule of commitments impact market entry strategy?
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Which of the following actions can organizations take to minimize risk?
Which of the following actions can organizations take to minimize risk?
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What is a primary focus of researching required processes for exporting services?
What is a primary focus of researching required processes for exporting services?
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Which of the following is NOT a step organizations may take to minimize risk?
Which of the following is NOT a step organizations may take to minimize risk?
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Which approach is most effective for organizations when negotiating business conduct?
Which approach is most effective for organizations when negotiating business conduct?
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Which of the following is essential for organizations to understand when researching laws and regulations?
Which of the following is essential for organizations to understand when researching laws and regulations?
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Which type of market regulation is not typically categorized under restricted open markets?
Which type of market regulation is not typically categorized under restricted open markets?
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What would be the least relevant factor for a service provider to consider regarding market entry restrictions?
What would be the least relevant factor for a service provider to consider regarding market entry restrictions?
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Which of these factors typically influences protected sectors in a market?
Which of these factors typically influences protected sectors in a market?
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Which regulation would most likely be ignored by a service provider operating globally?
Which regulation would most likely be ignored by a service provider operating globally?
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Which aspect is least likely to affect trade policies in a market?
Which aspect is least likely to affect trade policies in a market?
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Study Notes
Disruptive Innovation
- Disruptive innovation displaces established business practices and compels industry change.
- Examples include mobile apps, email, social networks, online shopping, Airbnb, and cloud computing.
Service Development: International Trade in Services
- Factors influencing service development encompass types of services, service-product relationships, delivery modes, regulations, market research, and intellectual property protection.
Understanding Trade in Services
- Services are intangible and provide benefits either independently or as part of tangible products.
- Most services are exchanged for a price, fulfilling identified needs.
- Service design processes remain consistent domestically or internationally, yet inputs differ significantly in international trade.
Trios College: Types of Services
- Types include Business Process Outsourcing (BPO), Information Communications Technology (ICT), and Knowledge Process Outsourcing (KPO).
- Main service sectors consist of business and professional services, communication services, construction services, distribution services, education services, energy services, environmental services, financial services, health and social services, tourism services, and transport services.
The Service-Product Relationship
- Businesses usually offer a range of services and products along a continuum.
- Service providers vary from purely service-oriented to those integrating services with products.
- Understanding service-product interrelationships is crucial for effective service development.
Market Entry Strategy
- Service delivery can utilize multiple models and is influenced by market entry strategies.
- These strategies take into account regulations in both domestic and target markets, impacting service design, cost, and customization potential for international clients.
Regulations
- Service providers must comply with domestic regulations and export requirements, considering restricted/open markets, protected sectors, trade policies, and market entry restrictions.
- To mitigate risks, organizations should:
- Research laws, scheduled commitments, dispute resolution mechanisms, and industry practices.
- Understand domestic laws and regulations.
- Investigate exporting processes and associated costs.
- Explore financial safeguards.
- Establish detailed codes of conduct, performance indicators, and penalties/incentives.
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Description
Explore the concept of disruptive innovation, which highlights how groundbreaking services and technologies can displace established industries. This quiz covers various examples such as mobile apps, email, social networks, and cloud computing, illustrating the impact of these innovations on traditional business practices.
