Chapter 2- Strategy and Sustainability

Question 1

Triple bottom line

Answer 1

A business strategy that includes social, economic, and environmental criteria.

Question 2

Operations and supply chain strategy

Answer 2

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

Question 3

Straddling

Answer 3

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 4

Order winner

Answer 4

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

Question 5

Order qualifier

Answer 5

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

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.