Many service industries link labor rate and time (quantity) standards with their processes. One examp the standard time to board an aircraft. The reason time plays such an important role in the service industry is that it is viewed as a competitive advantage: best service in the shortest amount of time. Although the labor rate component is difficult to observe, the time component of a service delivery standard is often readily apparent- for example, "Lunch will be served in less than five minutes, or it is free." Select two service industries for analysis Identify and describe all the time elements each industry uses to create a competitive advantage. Our capital budgeting content has focused on determining the profitability of a project. However companies may also invest in projects that do not have a positive return for qualitative factors. Consider an international airline like Delta or Southwest. Why might an international airline invest in a project that does not offer a positive return, i.e. the payback period and net present value indicate a low return on investment. Hint: Think about customers and other qualitative factors in considering your answers