Quiz over 1,2,3, & 4

Question 1

Value Chain?

Answer 1

A network f facilities and processes that describes the flow of materials, finished goods, services, information, that create goods and services.

Question 2

Supply Chain?

Answer 2

Primarily focus on the physical movement of goods

Question 3

Value?

Answer 3

The perception of the benefits associated with a good or service and what customers are willing to pay

Question 4

How to increase value?

Answer 4

Increased perceived benefits while holding price or cost constant

Question 5

What is the formula for value?

Answer 5

Value=Perceived Value/Price to customer

Question 6

Value proposition?

Answer 6

A competitively dominant customer experience. Adding digital content to cell phones to enhance value proposition

Question 7

Operational Structure?

Answer 7

The configuration of resources, such as suppliers, factories, warehouses, distributors, technical support centers, engineering design, and sales,

Question 8

Vertical Integration?

Answer 8

The process of acquiring and consolidating elements of a value chain to achieve more control

Question 9

Backward Integration?

Answer 9

Acquiring capabilities toward suppliers

Question 10

Forward Integration?

Answer 10

Acquiring capabilities toward distribution or even customers

Question 11

Outsourcing?

Answer 11

Having suppliers provide goods and services that were previously provided internally

Question 12

Value Chain Integration?

Answer 12

The process of managing information, physical goods, and services to ensure their availability at the right place, at the right time, at the right cost, at the right quantity, and with the highest attention to quality.

Question 13

Offshoring?

Answer 13

Building, acquiring, or moving process capabilities from a domestic location to another country location while maintaining ownership and control

Question 14

Measurement?

Answer 14

The act of quantifying the performance of an organization

Question 15

Quality?

Answer 15

The degree to which customer expectations are met by the company

Question 16

Goods Quality?

Answer 16

Relates to the physical performance and characteristics of a good

Question 17

Customer-Satisfaction Measurement System?

Answer 17

Provides a company with customer ratings of specific goods and service features. Also indicates customers likely future buying behavior.

Question 18

Service Quality?

Answer 18

Consistently meeting or exceed customer expectations

Question 19

Errors in service creation and delivery?

Answer 19

Service upsets or service failures

Question 20

Queue Time?

Answer 20

Fancy word for wait time

Question 21

Flexibility?

Answer 21

The ability to adapt quickly and effectively to changing requirements

Question 22

Volume Flexibility?

Answer 22

The ability to respond quickly to changes in the volume and type of demand

Question 23

Learning?

Answer 23

Creating, acquiring, and tranferring knowledge, and modifying the behavior of employees in response to internal and external change

Question 24

Productivity?

Answer 24

The ratio of output of a process to the input

Question 25

Operational efficiency?

Answer 25

The ability to provide goods and services to customers with minimum waste and maximum utilization of resources.

Question 26

The Triple Bottom Line?

Answer 26

The measurement of environmental, social, and economic sustainability.

Question 27

Interlinking?

Answer 27

Tries to quantify the performance relationships between all parts of the value chain

Question 28

Value of a Loyal Customer?

Answer 28

Quantifies the total revenue or profit each target market customer generates over the buyer’s life cycle

Question 29

Actionable Measures?

Answer 29

Provide the basis for decisions at the level at which they are applied.

Question 30

Four Parts of a Balanced Score Card?

Answer 30

Financial Perspective, Customer Perspective, Innovation and Learning Perspective, Internal Perspective

Question 31

Value Chain?

Answer 31

Quality of Inputs, price, delivery reliability, and service measures such as rates of problem resolution.

Question 32

Order Qualifiers?

Answer 32

Basic customer expectations are generally considered minimum performance level required to stay in business.

Question 33

Order Winners?

Answer 33

Goods and services features and performance characteristics that differentiate one customer benefit package from another.

Question 34

Search Attributes?

Answer 34

Are those that a customer can determine prior to purchasing the goods and or services

Question 35

Experience attributes?

Answer 35

Those that can be discerned only after purchase or during consumption or use

Question 36

Credence Attributes?

Answer 36

Are any aspects of a good or service that the customer must believe in, but cannot personally evaluate even after purchase and consumption.

Question 37

Competitive Priorities?

Answer 37

Represent the strategic emphasis that a firm places on certain performance measures and operational capabilities within a value chain

Question 38

Customer Benefit Package?

Answer 38

A clearly defined set of tangible and intangible features that the customer recognizes, pays for, uses, or experiences.

Question 39

Primary Good or Service?

Answer 39

The “core” offering that attracts customers and responds to their basic needs

Question 40

Peripheral goods or services?

Answer 40

Those that are not essential to the primary good or service, but enhance it.

Question 41

Variant?

Answer 41

A CBP feature that departs from the standard CBP and is normally location or firm specific.