Question

Describe a nonmanufacturing business that could benefit from the use of standards. Also explain how standards would help that business control its operations.

Answer 1

Answer:

Non-Manufacturing Companies implies it can not produce the physical appearance item. It can Produce the Service oriented items.

Item is whatever can be Satisfy the human Needs and Wants. For the most part Products can be isolated in to two different ways like a:

• Physical appearance Products
• Non-Physical appearance items

Non-Physical appearance items is likewise called a Non-Manufacturing Products. Service also a Product.

Non-Manufacturing Companies :

• Banks
• Programming Companies or software companies
• Network organizations and so on.

Bank is an one kind of Service/Non-Manufacturing Company. It offers the Service to society and Satisfy the Human Needs and Wants. Furthermore, it keeps up the Perfect Standards like Loans giving, Interest rates, Time periods, Details of the Customers.

The following are the standards of banks services:

Loans:

Bank gives the loans specific points of confinement dependent on the Customer Paying Ability and Based on Customer Evidence structures.

Interest rates:

Financing costs or interest rates are likewise maintain in legitimate manner because in the Bank Different kinds of bank interests like a Savings Interest, Loans attaching interest rates and so forth.

Loans are Mainly 3 types:

These loans are depend on loan time periods are following

• Short term loans
• Mid term loans
• Long haul loans