The factors that cause organizations to redesign their products or services. Introduction: Product or service redesign: A product or service redesign is changing the features of the product or a service according to the latest developments in various fields. It will enable the firm to stay in competition with the current trend.

Question

Want to see more full solutions like this?

Answer 1

Question

Chapter 4, Problem 1DRQ

Summary Introduction

To identify: The factors that cause organizations to redesign their products or services.

Introduction:

Product or service redesign:

A product or service redesign is changing the features of the product or a service according to the latest developments in various fields. It will enable the firm to stay in competition with the current trend.

Expert Solution & Answer

Explanation of Solution

The factors that cause organizations to redesign their products or services are as follows:

Customer dissatisfaction.
Changes in the regulations by the government.
Increased competition in the market.
Technological innovations which might be in the form of new raw materials or new methods and techniques.
Changes in the cost and readiness of important resources such as materials, labor required and different energy.
Change in customer expectations.
A product reaching a maturity stage.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Students have asked these similar questions

By selecting Cigna Accredo pharmacy that i identify in my resand compare the current feedback system against the “Characteristics of a Good Multiple Source Feedback Systems” described in section 8-3-3. What can be improved? As a consultant, what recommendations would you make?

Scenario You have been given a task to create a demand forecast for the second year of sales of a premium outdoor grill. Accurate forecasts are important for many reasons, including for the company to ensure they have the materials they need to create the products required in a certain period of time. Your objective is to minimize the forecast error, which will be measured using the Mean Absolute Percentage Error (MAPE) with a goal of being below 25%. You have historical monthly sales data for the past year and access to software that provides forecasts based on five different forecasting techniques (Naïve, 3-Month Moving Average, Exponential Smoothing for .2, Exponential Smooth for .5, and Seasonal) to help determine the best forecast for that particular month. Based on the given data, you will identify trends and patterns to create a more accurate forecast. Approach Consider the previous month's forecast to identify which technique is most effective. Use that to forecast the next…

Approach Consider the previous month's forecast to identify which technique is most effective. Use that to forecast the next month. Remember to select the forecasting technique that produces the forecast error nearest to zero. For example: a. Naïve Forecast is 230 and the Forecast Error is -15. b. 3-Month Moving Forecast is 290 and the Forecast Error is -75. c. Exponential Smoothing Forecast for .2 is 308 and the Forecast Error is -93. d. Exponential Smoothing Forecast for .5 is 279 and the Forecast Error is -64. e. Seasonal Forecast is 297 and the Forecast Error is -82. The forecast for the next month would be 230 as the Naïve Forecast had the Forecast Error closest to zero with a -15. This forecasting technique was the best performing technique for that month. You do not need to do any external analysis-the forecast error for each strategy is already calculated for you in the tables below. Naïve Month Period Actual Demand Naïve Forecast Error 3- Month Moving Forecast 3- Month Moving…

Answer 2

Question

Chapter 4, Problem 1DRQ

Summary Introduction

To identify: The factors that cause organizations to redesign their products or services.

Introduction:

Product or service redesign:

A product or service redesign is changing the features of the product or a service according to the latest developments in various fields. It will enable the firm to stay in competition with the current trend.

Expert Solution & Answer

Explanation of Solution

The factors that cause organizations to redesign their products or services are as follows:

Customer dissatisfaction.
Changes in the regulations by the government.
Increased competition in the market.
Technological innovations which might be in the form of new raw materials or new methods and techniques.
Changes in the cost and readiness of important resources such as materials, labor required and different energy.
Change in customer expectations.
A product reaching a maturity stage.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

Chapter 4, Problem 1DRQ

Summary Introduction

To identify: The factors that cause organizations to redesign their products or services.

Introduction:

Product or service redesign:

A product or service redesign is changing the features of the product or a service according to the latest developments in various fields. It will enable the firm to stay in competition with the current trend.

Expert Solution & Answer

Explanation of Solution

The factors that cause organizations to redesign their products or services are as follows:

Customer dissatisfaction.
Changes in the regulations by the government.
Increased competition in the market.
Technological innovations which might be in the form of new raw materials or new methods and techniques.
Changes in the cost and readiness of important resources such as materials, labor required and different energy.
Change in customer expectations.
A product reaching a maturity stage.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 4, Problem 1DRQ

Summary Introduction

To identify: The factors that cause organizations to redesign their products or services.

Introduction:

Product or service redesign:

A product or service redesign is changing the features of the product or a service according to the latest developments in various fields. It will enable the firm to stay in competition with the current trend.

Expert Solution & Answer

Explanation of Solution

The factors that cause organizations to redesign their products or services are as follows:

Customer dissatisfaction.
Changes in the regulations by the government.
Increased competition in the market.
Technological innovations which might be in the form of new raw materials or new methods and techniques.
Changes in the cost and readiness of important resources such as materials, labor required and different energy.
Change in customer expectations.
A product reaching a maturity stage.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 4, Problem 1DRQ

Summary Introduction

To identify: The factors that cause organizations to redesign their products or services.

Introduction:

Product or service redesign:

A product or service redesign is changing the features of the product or a service according to the latest developments in various fields. It will enable the firm to stay in competition with the current trend.

Expert Solution & Answer

Explanation of Solution

The factors that cause organizations to redesign their products or services are as follows:

Customer dissatisfaction.
Changes in the regulations by the government.
Increased competition in the market.
Technological innovations which might be in the form of new raw materials or new methods and techniques.
Changes in the cost and readiness of important resources such as materials, labor required and different energy.
Change in customer expectations.
A product reaching a maturity stage.

Answer 6

Chapter 4, Problem 1DRQ

Summary Introduction

To identify: The factors that cause organizations to redesign their products or services.

Introduction:

Product or service redesign:

A product or service redesign is changing the features of the product or a service according to the latest developments in various fields. It will enable the firm to stay in competition with the current trend.

Expert Solution & Answer

Explanation of Solution

The factors that cause organizations to redesign their products or services are as follows:

Customer dissatisfaction.
Changes in the regulations by the government.
Increased competition in the market.
Technological innovations which might be in the form of new raw materials or new methods and techniques.
Changes in the cost and readiness of important resources such as materials, labor required and different energy.
Change in customer expectations.
A product reaching a maturity stage.

Answer 7

Chapter 4, Problem 1DRQ

Summary Introduction

To identify: The factors that cause organizations to redesign their products or services.

Introduction:

Product or service redesign:

A product or service redesign is changing the features of the product or a service according to the latest developments in various fields. It will enable the firm to stay in competition with the current trend.

Answer 8

Expert Solution & Answer

Explanation of Solution

The factors that cause organizations to redesign their products or services are as follows:

Customer dissatisfaction.
Changes in the regulations by the government.
Increased competition in the market.
Technological innovations which might be in the form of new raw materials or new methods and techniques.
Changes in the cost and readiness of important resources such as materials, labor required and different energy.
Change in customer expectations.
A product reaching a maturity stage.