Week 1 - 1

Question 1

Order qualifiers

Answer 1

Characteristics of a product that are required for it to be even considered by a customer.

Question 2

Order winners

Answer 2

Characteristics of a product that are directly contributing to winning business from a customer.

Question 3

Competitive Advantage

Name 5

Answer 3

Cost
Quality
Flexibility
Dependability
Speed

Question 4

Cost

Answer 4

The ability to provide a product or service at a price the customer is willing to pay.
(cost of distribution/production)

Question 5

Quality

Answer 5

The ability to provide products or service that meets customer´s expectations.

Question 6

Flexibility

Answer 6

The ability to change a product or service to meet customer’s needs.

Question 7

Dependability

Answer 7

The ability of an organization to consistently meet its promises to the customer.

Question 8

Speed

Answer 8

The ability to provide products or services with as short a time delay as possible between customer order and delivery.

Question 9

Profit margin.

Answer 9

Value that´s created and captured by a company

Value Created & Captured - Cost of Creating that value = Profit Margin

Question 10

Porter´s Value Chain

Answer 10

A chain of activities common to all businesses divided them into primary and support activities

Question 11

Primary activities

Answer 11

Primary activities relate directly to the physical creation, sale, maintenance and support of a product or service

Question 12

Primary activities

Name 5

Answer 12

Inbound logistics
Operations
Outbound logistics
Marketing and sales
Service

Question 13

Inbound logistics

Answer 13

All the processes related to receiving, storing, and distributing inputs internally. Your supplier relationships are a key factor in creating value here.

Question 14

Operations

Answer 14

The transformation activities that change inputs that are sold to customers.

Question 15

Outbound logistics

Answer 15

These activities deliver your products or service to your customer. E.G collection, storage, distribution systems, and they may be internal or external to the organisation

Question 16

Marketing and sales

Answer 16

All the processes you use to persuade clients to purchase from you instead of your competitors. The benefit you offer, and how well you communicate them, are sources of value here.

Question 17

Service

Answer 17

These are the activities related to maintaining the value of your product or service to your customers, once it´s been purchased

Question 18

Support activities

Answer 18

Each support Activity playa role in helping the primary activity

Question 19

Support activities

Name 4

Answer 19

Procurement (Purchasing)
Human resource management
Technological development
Infrastructure

Question 20

Procurement (Purchasing)

Answer 20

What the organization does to get the resources it needs to operate. This includes finding suppliers and negotiating the best prices.

Question 21

Human resource management

Answer 21

How well a company recruits, hires, trains, motivates, rewards, and retains its workers. People are a significant source of value, so businesses can create a clear advantage with good HR practices.

Question 22

Technological development

Answer 22

Activities that relate to reducing(information) Technology cost, increasing efficiency, staying current with technological advances, and achieving technical excellence are sources of value creation. (R&D)

Question 23

Infrastructure

Answer 23

These are a company´s support systems, and the functions that allow it to maintain daily operations. Accounting, legal administrative, and general management are examples of necessary infrastructure that businesses can use to their advantage.

Question 24

Using the value chain

Answer 24

Step 1. Identify sub activities for each primary activity.
Step 2. Identify subactivities for each support activity
Step 3. Identify Risks

Question 25

Step 1. Identify sub activities for each primary activity.

Name 3

Answer 25

Direct activities create value by themselves
Indirect activities allow direct activities to run smoothly
Quality assurance activities ensure that activities meet the necessary standards.

Question 26

Direct activities create value by themselves

Answer 26

In a book publisher´s marketing and sales activity, direct sub-activities include marketing sales, calls to bookstores, advertising, and selling online.

Question 27

Indirect activities allow direct activities to run smoothly

Answer 27

The book publisher´ś sales and marketing activities include managing the sales force and keeping customer records.

Question 28

Quality assurance activities ensure that activities meet the necessary standards.

Answer 28

The book publisher´s sales and marketing activity, this might include proofreading and editing advertisements.

Question 29

Step 2. Identify subactivities for each support activity

Answer 29

(Consider how human resource management adds value to inbound logistics, operations, outbound logistics, and so on.)

Question 30

Step 3. Identify Risks

Answer 30

Find the connections between all of the value activities you´ve identified.

There is a link between developing the sales force (an HR investment) and sales volume.

There´s another link between order turnaround times, and service phone calls from frustrated customers waiting for deliveries.