Chapter 2 Operations & Supply Chain

Question 0

Triple bottom line

Answer 0

A business strategy that includes social, economic and environmental criteria

Question 1

Differences between services and goods?

Answer 1

Services are intangible
Services interact with customers
Goods can be inventoried

Question 2

Order qualifier

Answer 2

A dimension used to screen a product or service as a candidate for purchase

Question 3

Operations and supply chain strategy

Answer 3

Setting broad policies and plans for using the resources of a firm to best support the firm’s long term competitive strategy

Question 4

Straddling

Answer 4

Occurs when a firm seeks to match what a competitor is doing by adding new features services or technologies to existing activities. This often creates problems if certain trade offs need to be made

Question 5

Order winner

Answer 5

A dimension that differentiates the products or services of one firm from those of another

Question 6

Activity-system maps

Answer 6

A diagram that shows how a company’s strategy is delivered through a set of supporting activities

Question 7

Core capabilities

Answer 7

Skills that differentiate a manufacturing or service firm from its competitors

Question 8

Productivity

Answer 8

A measure of how well resources are used