Chapter 3 - Understanding & Delivering Value

Question 1

What is Strategic capability and how can it be assessed

Answer 1

Threshold capabilities, Unique resources, Core competences. Assess using 9 M’s. Money/Method/Markets/Machines/MakeUp/Management/Men/Materials/MangementInfo

Question 2

What is cost Efficiency

Answer 2

DEER. Design processes and products, Economies of Scale, Experience learning, Reduce supply costs

Question 3

What are Primary activities of the value chain

Answer 3

Inbound logistics, Operations, Outbound logistics, Marketing and Sales and ASS (after sales services)

Question 4

What are support activities of the value chain

Answer 4

Firm Infrastructure, HR, IT development, Procurement

Question 5

What is the Role of the R+D department

Answer 5

Environmental Analysis tech opp and threats. Technological position audit, developing new products and processes, new product research, screening for ideas and technical developments, quality enhancements

Question 6

What is benchmarking

Answer 6

Looking at beat practice, collecting and gathering data, comparing performance to industry standard

Question 7

What is benchmarking used for

Answer 7

Assessing current positions and resources, meeting industry standards, measuring company performances and expectations, challenge existing ways

Question 8

Problems with benchmarking

Answer 8

Catching up exercise, Doesnt give solutions, time consuming, expensive, ignores substitutes