Productivity, Innovation & Strategy

Question 1

A ________ is a network of activities, roles, resources, repositories, and data flows that interact to accomplish a business function.

Answer 1

Business Process

Question 2

A ________ is a network of activities, roles, resources, repositories, and data flows that interact to accomplish a business function.

Answer 2

Business Process

Question 3

An organization responds to the structure of its industry by choosing a(n) ________ strategy.

Answer 3

Competitive

Question 4

An organization responds to the structure of its industry by choosing a(n) ________ strategy.

Answer 4

Competitive

Question 5

Collecting, storing, and physically distributing the product to buyers describes which of the following primary activities?

Answer 5

Outbound Logisitics

Question 6

Collecting, storing, and physically distributing the product to buyers describes which of the following primary activities?

Answer 6

Outbound Logisitics

Question 7

Each stage of the value chain not only adds value to the product but also ________.

Answer 7

Adds Costs

Question 8

Each stage of the value chain not only adds value to the product but also ________.

Answer 8

Adds Costs

Question 9

________ includes general management, finance, accounting, legal, and government affairs.

Answer 9

Firm Infrastructure

Question 10

________ includes general management, finance, accounting, legal, and government affairs.

Answer 10

Firm Infrastructure

Question 11

In which case is the strength of competitive forces low?

Answer 11

When switching costs is high.

Question 12

In which case is the strength of competitive forces low?

Answer 12

When switching costs is high.

Question 13

In which of the following situations would the suppliers have the strongest bargaining power?

a. companies negotiating compensation during a booming economy
b. providers of logistic support during an economic slowdown
c. a wholesaler declaring a stock-clearance sale
d. coffee planters during a season of frost that decreases production

Answer 13

d.coffee planters during a season of frost that decreases production

Question 14

In which of the following situations would the suppliers have the strongest bargaining power?

a. companies negotiating compensation during a booming economy
b. providers of logistic support during an economic slowdown
c. a wholesaler declaring a stock-clearance sale
d. coffee planters during a season of frost that decreases production

Answer 14

d.coffee planters during a season of frost that decreases production

Question 15

Manufacturing systems that use linkages also use ________ to plan production.

Answer 15

Sales Forecast

Question 16

Manufacturing systems that use linkages also use ________ to plan production.

Answer 16

Sales Forecast

Question 17

Porter defined ________ as the amount of money that a customer is willing to pay for a resource, product, or service.

Answer 17

Value

Question 18

Porter defined ________ as the amount of money that a customer is willing to pay for a resource, product, or service.

Answer 18

Value

Question 19

Porter originally developed the five forces model to determine ________.

Answer 19

The potential profitability of an industry.

Question 20

Porter originally developed the five forces model to determine ________.

Answer 20

The potential profitability of an industry.

Question 21

Porter’s five competitive forces can be grouped into two types: forces related to ________ and forces related to supply chain bargaining power.

Answer 21

Competition

Question 22

Porter’s five competitive forces can be grouped into two types: forces related to ________ and forces related to supply chain bargaining power.

Answer 22

Competition

Question 23

Porter’s model includes the bargaining power of which of the following groups as one of the five factors?

a. employees
b. investors
c. customers
d. competitors

Answer 23

c. customers

Question 24

Porter’s model includes the bargaining power of which of the following groups as one of the five factors?

a. employees
b. investors
c. customers
d. competitors

Answer 24

c. customers

Question 25

The competitive strategy of an organization determines its ________.

Answer 25

Valur Chain

Question 26

The competitive strategy of an organization determines its ________.

Answer 26

Valur Chain

Question 27

The strength of bargaining power forces depends on the availability of substitutes and ________ compared to the size of suppliers or customers.

Answer 27

The relative size of the company.

Question 28

The strength of bargaining power forces depends on the availability of substitutes and ________ compared to the size of suppliers or customers.

Answer 28

The relative size of the company.

Question 29

Two strength factors that relate to all three competitive forces are ________ and _________.

Answer 29

Switching Costs and Customer Loyalty.

Question 30

Which of the following is an example of a competitive strategy employed by a firm?

a. launching a unique product targeted at a section of consumers
b. laying off staff in order to cut down costs during a recession period
c. advertising its products nationwide like its competitor organizations
d. increasing the price of its product when raw material prices increase

Answer 30

a.launching a unique product targeted at a section of consumers

Question 31

Which of the following is an example of a competitive strategy employed by a firm?

a. launching a unique product targeted at a section of consumers
b. laying off staff in order to cut down costs during a recession period
c. advertising its products nationwide like its competitor organizations
d. increasing the price of its product when raw material prices increase

Answer 31

a.launching a unique product targeted at a section of consumers

Question 32

Which of the following is a process implementation principle of competitive advantage?
Select one:
a. creating a new product
b. establishing alliances 
c. differentiating a product
d. enhancing a product

Answer 32

b. establishing alliances

Question 33

Which of the following is a process implementation principle of competitive advantage?
Select one:
a. creating a new product
b. establishing alliances 
c. differentiating a product
d. enhancing a product

Answer 33

b. establishing alliances