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defon
2 years ago
15

Consider a fast food café of your choice. Apply 4 V’s of Operation. Describe each V as ‘High’, ‘Low’ or ‘Moderate’ with one line

r reason.
Business
1 answer:
Marrrta [24]2 years ago
7 0

Answer:

4 V's of Operation

The 4 V's of operation are Volume, Variety, Variation, and Visibility.  Let us take Mrs. Happy Food Cafe with over 100 outlets in Fiacton Town, as an example to illustrate the 4 V's of operation.

Volume: As a food cafe, the volume of production that will be required for some foods and drinks is so high that their provision requires repetitive tasks.  Based on this, procedures are normally standardized in order to achieve low cost for foods and drinks.  However, it is harder to standardize services, since personal touches are added by the servers based on their individual perceptions and abilities.

Variety: Mrs. Happy Food Cafe tries to bring some variety in her offerings to satisfy the various needs of her customers.  While variety is naturally low in the Food Cafe sector, some cafes like Mrs. Happy Good Cafe, try to satisfy customers' demands by varying the foods with Continental, African, Latino cuisines and dishes.

Variation: At Mrs Happy Food cafes, the food and drinks do not vary much as customers expect to be served the same quality of services at any of their cafes.  This is because the processes are standardized to achieve low cost.  So, the variation is moderate.

Visibility: Customers of Mrs Happy Food cafes are not able to see and track their experiences of the the processes for the food preparation that they order.   But, they can track the processes for the services because services are consumed as they are offered.  So, visibility is 'Moderate," as it is divided between the hard goods and the soft goods.  With respect to goods visibility is 'Low.'  However, with respect to the services the customers' visibility of processes is high.

Explanation:

The 4 V's of operation describe the different characteristics of the processes that various entities use to transform their inputs into outputs of goods and services.  They may be high, low, or moderate.  They include, volume, variety, variation, and visibility.

You might be interested in
Andrew is deciding whether to remain in the home he has lived in for the past ten years, which is located very near his work, or
vekshin1

Answer:

The decision that is not relevant to Andrew is:

b. Cost of the old house.

Explanation:

a) The cost of the old house ($160,000) is not relevant to Andrew decision challenges.  It is a sunk or past cost.  Past costs are not relevant because they do not make a difference in the decision or the alternative to choose.  Since Andrew will be impacted by the driving distance to work from his new house, the market value of the old house, and the cost of the new house, these are relevant in Andrew's decision.

4 0
1 year ago
ABC Company is unloading coal from a barge on the Mississippi River. The barge contains 1,760 tons of coal. The coal is shoveled
Naily [24]

Answer:

The answer is: 5 hours 20 minutes; 4 Trucks

Explanation:

Each truck has a 16 minute window to pick up and dump the coal. This process can be observed as an assembly line where each stage of production is the stages of coal transport. When Truck A is travelling to the dump site, Truck B can be loading the coal. When Truck B is travelling to the dump site and Truck A is dumping the coal, Truck C would be loading the coal. When Truck A is travelling to the loading area, Truck B dumping the coal and Truck C travelling to the dump site, Truck D would be loading the coal. Once Truck A gets to the loading area, Truck D would be on its way to the dump site and so on. In each 16 minute window 88 tons of coal (22 tons * 4) is picked up and dumped, that is, 22 tons every 4 minutes. Given that there are 1, 760 tons of coal, the total time taken to dump all the coal is equal to 320 minutes:

88 tons = 16 minutes (22 tons dumped every 4 minutes)

1, 760 tons = (1760 tons * 16)/88 tons = 320 minutes

320 minutes/ 60 minutes = 5 hours 20 minutes

6 0
2 years ago
g If term premiums are positive, _____. long-term investors dominate the market the spread between yields on long-term and short
DedPeter [7]

Answer:

The spread between yields on long-term and short-term bonds is positive

Explanation:

When term premiums are positive, the yield curve is considered normal, this means that long-term bonds have a higher yield to maturity than short-term bonds, due to the higher risks associated with long-term bonds.

If long-term bonds have a higher yield to maturity (YTM) than short-term bonds, this means that the spread: the difference between the term premiums of long-term bonds and short-term bonds, will be positive.

For example, if the YTM of a 10 year bond is 8%, and the YTM of a 1 year bond is 4%, the spread of of the term premiums will:

8 - 4 = 4%, a positive spread.

5 0
2 years ago
Buster's had a beginning cash balance of $2,780 for the quarter. During the quarter, the firm had cash collections of $41,309, w
aleksandrvk [35]

Answer:

Cash Surplus is $2,181.

Ending short-term debt is $6,936

Explanation:

The cash surplus and ending short term are obtained as follows:

1. Buster's Cash Account for the Quarter

Beginning cash balance                       $2,780

Cash collected                                      $41,309

Wages and other cash expenses       ($18,800)

Payments on account                          ($21,308)

Dividends paid                                       <u>($1,200)</u>

Total cash balance                                  <u> $2,781</u>  

Note that figures in brackets indicate minus/deduction.

Therefore, total cash balance is divided into:

Ending cash balance                                $600

Cash Surplus                                           <u>$2,181 </u>

Cash balance                                         <u> $2,781</u>                        

2. Calculation of Short Term Debt Balance for the Quarter

Beginning short-term debt                    $6,800

Interest ($6,800 × 2%)                           <u>    $136</u>

Ending short-term debt                         <u>$6,936 </u>                

Note:

Note that the interest amount of $136 is added to the beginning short term debt to obtain the ending short term because it is not stated in the question that it was paid during the quarter. Had it been was paid during the quarter, the ending short term debt will be the same as opening amount of $6,800 while cash cash surplus and cash balance will reduce by $136.

5 0
2 years ago
Suppose that the manager of a firm operating in a perfectly competitive market has estimated the average variable cost function
dedylja [7]

Answer:

267 output

Explanation:

The computation of the output produced in the short run is shown below:

As it is given that

AVC i.e average variable cost function = 4.0 - 0.0024Q + 0.000006Q^2

And,

FC i.e fixed cost = $500.

Plus we know that

Total variable cost i.e TVC = AVC × Q i.e Quantity

So,

AVC × Q = TVC

= 4Q - 0.0024Q^2 + 0.000006Q^3

And,

The total cost = Total variable cost + Fixed cost

So,

TC = TVC + FC

= 4Q-.0024Q^2 + .000006Q^3 +$500.

And, the MC i.e marginal cost is

= Total cost  ÷ Quantity

MC = 4 - 0.0048Q + 0.000018Q^2

MC = 4

So,

Price = MC i.e 4

4 - .0048Q + .000018Q^2 = 4

So after solving this Q is 266.67 i.e 267 output

6 0
2 years ago
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