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Assignment Set – 1



  1. What are the important characteristics of service ? add suitable figures, examples to support your answer.

Ans 1.

Service, in its broadest sense, encompasses a range of activities, interactions, and benefits that one party can offer to another and that are essentially intangible and do not result in the ownership of anything. The characteristics of service can be broadly categorized into four primary aspects: Intangibility, Heterogeneity, Inseparability, and Perishability. These are often referred to as the Its Half solved only

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  1. Discuss Porter’s five forces in the context of the service industry? add suitable figures, examples to support your answer

Ans 2.

Porter’s Five Forces is a framework developed by Michael E. Porter to analyze the competitive environment of a business. This model is particularly relevant in the service industry, where competition and market dynamics can significantly influence success. Here, we’ll discuss each of the five forces in the context of the service industry, supported by examples


3.What the role of Innovations in Service  ? And discuss advantages of Service Innovation?

Ans 3.

In the contemporary business landscape, the role of innovations in service sectors cannot be overstated. Service innovation, a multifaceted concept, encompasses the introduction of new or significantly improved services, processes, marketing methods, or organizational methods in business practices

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Assignment Set – 2



  1. Discuss the 4 popular types of Errors in Demand Forecasting, add suitable figures, examples to support your answer.

Ans 1.

Demand forecasting is a critical aspect of business planning, involving predictions about future customer demand based on historical data and market analysis. However, this process is prone to various types of errors, which can significantly impact business decisions and strategies. Understanding



  1. Explain the Strategies Used to Manage Service Capacity? add suitable figures, examples to support your answer?

Ans 2.

Strategies used to manage service capacity, supported by the key points illustrated in the mindmap:



  1. Explain Theory of constraints in detail and discuss three measures of Theory of constraints       

Ans 3.

The Theory of Constraints (TOC) is a management paradigm that views any manageable system as being limited in achieving more of its goals by a very small number of constraints. Developed by Dr. Eliyahu M. Goldratt, it is based on the principle that complex systems exhibit