Chapter 9 Vocabulary Flashcards
The coordinated series or sequence of functional activities necessary to transform inputs such as new product concepts, raw materials, component parts, or professional skills into the finished goods or services customers value and want to buy.
Value chain
The technique that uses IT to develop an ongoing relationship with customers to maximize the value an organization can deliver to them over time.
Customer relationship management
A management technique that focuses on improving the quality of an organization’s products and services.
Total quality management
A system in which parts or supplies arrive at an organization when they are needed, not before.
Just-in-time inventory system
A technique used to improve quality by systematically improving how value chain activities are performed and then using statistical methods to measure the improvement.
Six sigma
The fundamental rethinking and radical redesign of business processes to achieve dramatic improvement in critical measures of performance such as cost, quality, service, and speed.
Process reengineering
The development of new, often radically different, kinds of goods and services because of fundamental shifts in technology brought about by pioneering discoveries.
Quantum product innovation
A planning model that forces managers to choose among competing projects so organizational resources are not spread thinly over too many projects.
Stage-gate development funnel
The members of a team who bear primary responsibility for the success of a project and who stay with a project from inception to completion.
Core members
