Home-based Business vs Retail Space Quiz

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30 Questions

What is the main difference between discrete and non-discrete products?

Discrete products are distinct individual items, while non-discrete products are continuous like rolls of paper.

What type of facility produces high volume and low variety?

A product-focused facility.

What is the main characteristic of mass customization?

Rapid, low-cost production of goods and services that fulfill unique customer desires.

What do operations managers need to do to build agile processes for mass customization?

Make imaginative and aggressive use of organizational resources.

How can Process Analysis and Design Tools help operations managers?

To understand the complexities of process design and redesign.

What is a Flow Diagram used for in operations management?

To analyze the movement of people or material.

What is a process strategy?

An organization's approach to transform resources into goods and services.

Why is the process strategy decision so crucial for operations managers?

The process selected affects efficiency, production, flexibility, cost, and quality of goods produced.

What are the four process strategies mentioned in the text?

Process focus, Repetitive focus, Product focus, Mass customization focus.

What is the focus of process focus strategy?

Making low-volume, high-variety products in job shops.

Give an example of a process focus in a factory.

Departments devoted to welding, grinding, and painting.

How are process-focused facilities in an office organized?

Around activities like accounts payable, sales, and payroll.

What is the main purpose of a mapping service in relation to business transactions?

To allow identification and tracking of transaction locations

What process does a mapping service rely on to transform a conceptual location to its coordinates?

Geocoding

What are the types of locations that can be selected for business activities?

Home, retail, mobile, commercial, industrial

Why should businesses consider different types of locations before making a final decision?

To match the location with the type of business and explore creative space applications

What is a common feature of business parks and office buildings to attract tenants?

Having retail space

What is a benefit of starting a business at a home-based location?

Trendy and cost-effective for entrepreneurs

What is the main purpose of a geocoding service?

To map places to their location coordinates.

What is reverse geocoding?

Providing the nearest address or point of interest given latitude and longitude coordinates.

How does address cleansing and standardization help?

It ensures that records meet published standards for postal addressing.

What is the purpose of geographic data enrichment?

To combine location information with auxiliary data sets for various business needs.

What kind of information can be added to cleansed addresses through geographic data enrichment?

Address corrections, demographic data imports, psychographic data imports, and household data.

How does a geocoding service go beyond simple address mapping?

By mapping airport or railroad station codes, named points of interest, street intersections, and analyzing text for place names descriptions.

Where can you run a home-based business?

Spare bedroom, basement, attic, kitchen table

What are some locations where retail space can be found?

Enclosed malls, strip shopping centers, free-standing buildings, downtown shopping districts, mixed-use facilities, airports, transportation facilities, hotel lobbies, sports stadiums, temporary or special event venues

What is the ideal location for a mobile business?

Car, van, truck

What kind of businesses can benefit from commercial office space?

Businesses not requiring significant pedestrian or automobile traffic for sales

What are some examples of temporary event venues mentioned for retail space?

Sports stadiums, special event venues

Where can you find commercial office space?

Downtown business districts, business parks, suburban retail facilities

This quiz compares running a home-based business to having a retail space, highlighting the advantages and disadvantages of each option. It covers topics such as location, space limitations, employee accommodation, and client meetings.

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