What does a trade off mean

Generally, only companies at the high end of their competitive landscape can command such a premium. First Known Use of trade-off , in the meaning defined at sense 2. To learn more, visit our Earning Credit Page Transferring credit to the school of your choice Not sure what college you want to attend yet? Frances X. Starbucks, for example, handles capability variability among its customers by teaching them the correct ordering protocol.

After the initiative is tested on only the challenger sample, the company tracks differences in behavior between the two samples. Daniel British. Test Your Knowledge - and learn some interesting things along the way. Operations management theory, rooted in the manufacturing context, typically has only one thing to say about variability: It must be eliminated. Indeed, the free riding the company suffered is a major risk for any business in which customers need expensive prepurchase service and rivals offer easy substitutions. Should companies accommodate variability or reduce it? Gateway succeeded spectacularly at bringing customers with all levels of expertise through the doors.

These are personal preferences, but they introduce as much unpredictability as any other variable and make it that much harder to serve a broad base of customers. Customers with time on their hands preferred to wait in line to have the teller do all the work. Companies that learn to manage the variability customers bring to the works will find that customers are the key to competitive advantage. As an example, in production theory the trade-off between output of one good and output of another is illustrated graphically by the production possibilities frontier. Your goal is required.

Related queries:
-> Japan china trade deficit
A trade-off is a situation that involves losing one quality or aspect of something in return for gaining another quality or aspect. Many factors affect the tradeoff environment within a particular country, including availability of raw materials, a skilled labor force, machinery for producing a product, technology and capital, market rate to produce that product on reasonable time scale, and so forth. Trade-off When choices are made collectively or by an individual to accept having less of one thing in order to get more of something else, the results are called trade-offs. It may be the opportunity to take the money he or she would have spent and put it in a CD at the bank making five percent interest. Should companies accommodate variability or reduce it?
-> stock brokerage fees
Going out on Friday night could involve several economic trade-offs. Trade-off When choices are made collectively or by an individual to accept having less of one thing in order to get more of something else, the results are called trade-offs. Cancel Submit. Family Plan Includes Free parent account Add one or more paid student subscriptions View individual student lesson progress Monitor quiz scores Receive weekly email status updates. Menus, by their nature, are a way to constrain request variability. The conclusion isn't that you should skip going out with your friends, but rather that you should evaluate the other alternatives, so you can make the smartest decision possible for you. It knew that it would be able to sell more PCs if it provided more hand-holding to consumers who lacked technical knowledge and confidence.
-> invest in stocks online free
Add trade-off to one of your lists below, or create a new one. Word of the Day newborn. Dictionary Entries near trade-off trademark trademark infringement trade name trade-off trade places with someone trade practice trade publisher See More Nearby Entries. Managing customer-introduced variability, the author argues, is a central challenge for service companies. Lesson Transcript.
-> stock broker commission comparison
Living in a town with a small population presents a unique challenge to entrepreneurs. In order to use this email as the parent login to your Family Plan, you need to log in to your student's account and change the email. Companies that use reduction strategies tend to attract price-conscious customers who are willing to trade off an excellent service experience for low prices. Why or why not? Any situation in which the quality or quantity of one thing must be decreased for another to be increased. Upgrade to Premium to add all these features to your account! Organizational Management
-> buying into stock market
MLA Style "Trade-off. A technique of reducing or forgoing one or more desirable outcomes in exchange for increasing or obtaining other desirable outcomes in order to maximize the total return or effectiveness under given circumstances. Apparently, management had not anticipated the effect on the customer experience. The coffee shop chain allows customers to choose among many permutations of sizes, flavors, and preparation techniques in its beverages. Understanding the workings of service businesses more thoroughly begins with identifying the things that make them different from manufacturers. Upgrade to Premium to add all these features to your account! The rule the waitress invokes—no substitutions—is a time-honored way to limit request variability, or the range of what customers ask for in a service environment.
->Sitemap



What does a trade off mean:

Rating: 98 / 100
Overall: 83 Rates