CH 2 - Strategy and Sustainability

Question 1

The ability to meet current resource needs without compromising the ability of future generations to meet their needs

Answer 1

Sustainability

Question 2

Individuals or companies that legally own one or more shares of stock in the company

Answer 2

Shareholders

Question 3

Individuals or organizations that are influenced either directly or indirectly, by the actions of the firm

Answer 3

Stakeholders

Question 4

Evaluating the firm against social, economic, and environmental criteria

Answer 4

Triple Bottom Line

Question 5

Concerned with setting broad policies and plans for using the resources of a firm and must be integrated with corporate strategy

Answer 5

Operations and Supply Chain Strategy

Question 6

Core business processes needed to run the business

Answer 6

Operations Effectiveness

Question 7

A strategic position is not ______ unless there are compromises with other positions

Answer 7

Sustainable

Question 8

Occurs when activities are incompatible so that more of one thing necessitates less of another.

Answer 8

Trade Offs

Question 9

Occurs when a company seeks to match the benefits of a successful position while maintaining its existing position. Adds new features, services, or tech onto activities it already performs.

Answer 9

Straddling

Question 10

One or more specific marketing-oriented dimensions that clearly differentiate a product from competing products

Answer 10

Order winner

Question 11

Dimensions used to screen a product or service as a candidate for purchase

Answer 11

Order Qualifiers

Question 12

Shows how a company’s strategies is delivered through a set of tailored activities

Answer 12

Activity System Maps

Question 13

The likelihood of a disruption that would impact the ability of the company to continuously supply products or services

Answer 13

Supply Chain Risk

Question 14

What are the three-step risk management processes that can be applied to situations where disruptions are possible?

Answer 14

1. Identify the sources of potential disruptions
2. Assess the potential impact of the risk
3. Develop plans to mitigate the risk

Question 15

Common measure of how well a country, industry, or business unit is using its resources

Answer 15

Productivity

Question 16

Productivity is called a ____ Measure

Answer 16

relative

Question 17

Productivity may be express as what three measures?

Answer 17

Partial, multifactor, or total

Question 18

If we are concerned with the ratio of some output to a single input, this measure is?

Answer 18

Partial Productivity Measure

Question 19

If we want to look at the ratio of some output to a group of inputs (but not all), this measure is?

Answer 19

Multifactor Productivity Measure

Question 20

If we want to express a ratio of all outputs to all inputs, this measure is?

Answer 20

Total Factor Measure of Productivity