In: Operations Management
1- Give a definition of the term entity and give an original example.
2- Give a definition of term attribute and give three examples for the entity in question ( 1 ).
3- Give a definition of term relationship and give an original example for the entity in question ( 1 ).
Answer:
Definition of Entity:
Entity can be defined as anything that is having a separate and an independent existence. It can be a single company or a single product or a single person or a single animal.
Let us take an example of organisation as an entity. Organisation operates as a single firm within the cluster of various similar kinds of organisation within that particular industry. For Instance, Samsung operating among the various electronic manufacturers within the market forms an entity.
Definition of Attributes:
Attribute can be defined as the characteristic or the quality of something or of a particular entity.
Following examples shows the attributes of Samsung:
1. Samsung is a company which provides various electronic products within the budget of the common man.
2. Samsung, basically known for mobile devices and the home entertainment system, is a global Smartphone provider.
3. Samsung enjoys a higher market share of around 30.8% from March 2019 to March 2020 in the smart phone category as compared to the low listed market share of its competitors.
Definition of Relationship:
Relationship can be defined as the way in which two or more entities are connected with each other for some or the other reason.
Example:
There are various relationships that an entity or an organisation is required to maintain. These may include the relationship between the organisation and its supplier, between the organisation and the government of the area in which the company is operating, between the organisation and customers, between the organisation and its shareholders, etc.
Samsung Electronics Company has a separate division whose function is of ‘customer relationship management’. The aim of this department is to deal with the issues and the feedback of the customers and to make a healthier relationship with the customers so as to enjoy the high level of customer loyalty for the brand.