A form of business that transforms resources into an intangible output and creates time or place utility for its customers is called a(n)
A) manufacturing organisation.
B) biotechnology firm.
C) information technology firm.
D) service organisation.
E) hybrid organisation.

Question

Quizplus · Accepted Answer

A service organisation creates an intangible output (a service) that often involves creating time or place utility for its customers. Manufacturing organisations transform tangible resources into physical goods, biotechnology and information technology firms may create intangible outputs but do not necessarily create time or place utility for customers. Hybrid organisations may have elements of both a manufacturing business and a service business, but the question asks for the best fit phrase, which is a service organisation.

A Form of Business That Transforms Resources into an Intangible