Module 5: Value/Process View

Question 1

What are the product and service attributes of a value proposition?

Answer 1

Functionality
Price
Quality
Choice
Availability

Question 2

What are the 2 additional elements to a value proposition which are not product/service attributes?

Answer 2

Image
Relationship

Question 3

What is a value proposition?

Answer 3

What the organisation offers to the market in terms of product and services

Question 4

Can a customer be internal as well as external?

Answer 4

Yes

Question 5

What are the two categories of a value proposition?

Answer 5

Customer and Value Categories

Question 6

What makes up the customer category of the value proposition?

Answer 6

Owner
Partner
End Customer

Question 7

What makes up the value categories of the value proposition?

Answer 7

Timing
Financial
Quality

Question 8

What is a value chain?

Answer 8

Breaks down high-level activities needed to produce an organisation’s goods or services

Question 9

Variable costs in Porters Value Chain are…

Answer 9

Primary activities

Question 10

What is a Primary activity in Porters Value Chain?

Answer 10

amount varies directly with the amount of product or service produced

Question 11

What is a value stream?

Answer 11

specific to a particular customer segment.

Question 12

Is a value stream a linear representation of a value proposition?

Answer 12

True

Question 13

What guidelines must be followed when building a value stream?

Answer 13

Identify the recipient of the product or service
Understand the customers’ perception of the value item
Be value centric and accrue value at each stage
Take a holistic high-level view do that it is not possible to have iteration between stages
Be stakeholder focused
go back as far as the triggering business event

Question 14

How many types of business events are there and what are they?

Answer 14

External
Internal
Time-Based

Question 15

What are business events?

Answer 15

Trigger activities in the business

Question 16

What are the two type of business rule?

Answer 16

Constraints
Operational Guidance

Question 17

Give 2 examples of each business rule

Answer 17

Constraints - Action Governance, Data Constraints
Operational Guidance - Decision guidance and calculations

Question 18

Define a Business Service

Answer 18

The output (product or service) of a business unit that are provided to internal or external customers

Question 19

What is SOA?

Answer 19

Service Oriented Architecture - A method of software development that uses services to create business applications

Question 20

Is how the business service is delivered of consequence?

Answer 20

No, considered a black box

Question 21

Define a value network

Answer 21

Set of roles and interactions that generate a specific business, economic or social good or outcome

Question 22

What is a key purpose of value network mapping

Answer 22

Key roles
transactions
deliverables

Question 23

What are the four steps of creating a value network

Answer 23

Scope
Players
Transactions
Knowledge and Information
Validation

Question 24

The benefits from mapping process to value stream stage are

Answer 24

Increased sales
remove waste
improved use of resources
customer experience

Question 25

Which is not an element of the value proposition:
- Image
- Availability
- Competition
- Function

Answer 25

Competition