5C - total Flashcards
Benchmarking compares the current performance of operations to which of the following factors related to competing organizations?
Standard cost of developing performance measures
Current performance measures
Prior performance measures
Anticipated future performance measures
Current Performance Measure
A benchmark is a point of reference from which measurements can be made and current performance of operations can be assessed; a benchmark serves as a standard of comparison.
. The four types of benchmarking are discussed below.
____Evaluation of business units within the organization that have similar business processes to identify the best practices. Easy to do. Resu;lts in quality improvements
___benchmarking: This is the process of measuring an organization’s products, services, and processes against those of its toughest competitors. It is both more difficult and more expensive than internal benchmarking, but it may identify practices unknown to the firm and release an organization from self-imposed limits
\_\_\_benchmarking: This examines business functions in organizations outside the firm's industry. The purpose is to find innovative processes not used in the industry. Marketing Distribution & Finace are the departments its used in
____benchmarking: This examines specific activities such as invoicing, payroll, purchasing, and order entry.
Internal benchmarking:
Competitive
Functional
Generic
What is process-based management (PBM)?
A management strategy that aligns raw material orders from suppliers directly with production schedules
A data-driven methodology for eliminating defects in any process
An organizational approach that views a business as a collection of managed processes designed to achieve a desired result
An approach that seeks continuous improvement through small, incremental changes in processe
An organizational approach that views a business as a collection of managed processes designed to achieve a desired result
___) is a philosophy that views business as a collection of processes (or activities) that are managed to achieve the organization’s vision,
mission, and core values.
focuses on internal processes such as customer satisfaction, quality of product, and security, as well as financial results (revenues, costs, profit, and budget). PBM works for any industry and is compatible with any business model. T/F
Process-based management (PBM
True
Companies that adopt just-in-time purchasing systems often experience:
an increase in carrying costs.
a reduction in the number of suppliers.
fewer deliveries from suppliers.
a greater need for inspection of goods as the goods arrive.
Reduction in suppliers
his increased dependence on, and interaction with, vendors forces the company that adopts a just-in-time purchasing system to reduce the number of suppliers to those few who will guarantee the needed quality and timeliness of delivery.
JIT shifts the production philosophy from a Pull approach to a Push approach.
____The basic principle of just-in-time production is not to produce anything until the next stage in the production process is ready to work on it.
Quality control is critical, as is a good relationship with vendors to obtain high-quality materials with frequent deliveries. If quality control procedures are not in place, the entire process breaks down. T/F
The rate of production for individual departments is determined by the needs of each succeeding department
False – Push to Pull
Kanban:
True
True
The ___approach begins with the acquisition of raw materials, which are pushed into production
The ____approach starts with the demand for finished products from a customer.
Push
Pull
This is based on what idea?
That an organization has a single goal that is achieved through a complex system of linked activities
Theory of Constraints
5 steps for implementing Constraints
Identify Exploit Subordinate Elevate Go back to step 1
i
Business process modeling (BPM) is used in process-based management and systems engineering to diagram (or model) the activities of an organization. One of those modeling tools is extended business modeling language (xBML), which is:
a graphical representation that identifies the business processes in business process modeling.
a type of flowchart used for business process modeling used for modeling, analyzing, and redesigning business processes.
an intuitive graphical language that unlocks the DNA of a corporation using a system of diagrams based on five W’s (Who, What, Which, Where, and When).
a conceptual fact-based modeling method that aims to integrate the different dimensions of knowledge: data, rules, processes and semantics.
an intuitive graphical language that unlocks the DNA of a corporation using a system of diagrams based on five W’s (Who, What, Which, Where, and When).
____An intuitive graphical language that unlocks the DNA of a corporation using a system of diagrams based on five W’s (Who, What, Which, Where, and When).
____A graphical representation that identifies the business processes in business process modeling.
____Uses five symbols to model any process and allows direct transformation into executable form. Each business process consists of two or more subjects which exchange messages.
____: A type of flowchart used for business process modeling used for modeling, analyzing, and redesigning business processes. An EPC is an ordered graph of events and functions, providing connectors
___A conceptual fact-based modeling method that aims to integrate the different dimensions of knowledge: data, rules, processes, and semantic
Extended business modeling language (xBML):
Business process model and notation (BPMN):
Subject-oriented business process management (S-BPM):
Event-driven process chain (EPC)
Cognition-enhanced natural language information analysis method (CogNIAM):
nk discs with no data contained on them. Which improvement initiative would R Beck most likely adapt to reduce or eliminate the blank discs?
Lean production
Business excellence framework
Six Sigma
Business process re-engineering
6 sigma
____is a data-driven approach for identifying and removing the causes of defects and minimizing variability in manufacturing and business processes.
____which is often known simply as “___,” is a production practice and methodology that focuses on reduction of the seven wastes (overproduction, waiting time, transportation, processing, inventory, motion, and scrap) in manufacturing products.
_____is a systematic approach or methodology for analyzing business activities or processes with a view to improving the organization’s alignment with strategic goals and/or its effectiveness, efficiency, competitiveness, etc. Designs workflows & processes
The ____Framework is a set of specific practices of managing the organization and achieving results,
_____contains a set of standards that companies can implement for continual improvement
Six Sigma
Lean manufacturing,
Business process re-engineering (BPR)
Business Excellence (BE)
ISO 9001
Just-in-time production is also called:
kaizen.
lean manufacturing.
activity-based management.
backflush costing.
Lean Manufacturing
Which of the following methodologies would be most effective for a company that wants to reduce its rate of defective products?
Sensitivity analysis
Variable costing
Six Sigma
Breakeven analysis
6 sigma
Which of the following terms refers to a willing adoption of one organization’s culture over the other after a merger or acquisition?
Integration
Separation
Assimilation
Deculturation
Assimilation
MERGERS
. ____occurs when the acquired company willingly adapts and embraces the acquiring entity’s culture.
____occurs when the companies combine the two cultures into one new, composite culture.
___is the situation where the two companies remain as two distinct entities.
___is the situation where the acquiring company forces or imposes its culture on an unwilling acquired firm.
Assimilation
Integration
Separation
Deculturation
Strategic planning addresses both internal and external environment factors. Which of the following is not a component of the internal environment?
Competitive advantages
Opportunities
Strengths
Weaknesses
opportunities
Opportunities and threats make up the external environment. The internal environment consists of strengths, weaknesses, and competitive advantages.
Opportunities and threats make up the __environment.
The __environment consists of strengths, weaknesses, and competitive advantages.
external ,
internal
All of the following are characteristics of the strategic planning process except the:
emphasis on both the short and long run.
analysis of external economic factors.
review of the attributes and behavior of the organization’s competition.
analysis and review of departmental budgets.
Analysis and review of departmental budgets