Question 1

Self-managing teams:

Accepted Answer

A)  are limited to only very large organizations. 
B)  require members to coordinate their own activities and make decisions. 
C)  typically increase the need for supervisors. 
D)  create a tall organizational structure. 
E)  show negligible increase in productivity and substantial decrease in product quality. 
A)  are limited to only very large organizations. 
B)  require members to coordinate their own activities and make decisions. 
C)  typically increase the need for supervisors. 
D)  create a tall organizational structure. 
E)  show negligible increase in productivity and substantial decrease in product quality.

Question 2

The marketing strategy that a company adopts:

Accepted Answer

A)  has little impact on the company's efficiency and cost structure. 
B)  aims at attaining superior efficiency of the company's operations. 
C)  should not consider the impact the strategy has on the company's cost structure. 
D)  aims at automating much of the work in the production process. 
E)  refers to the position that the company takes concerning a product's pricing and distribution. 
A)  has little impact on the company's efficiency and cost structure. 
B)  aims at attaining superior efficiency of the company's operations. 
C)  should not consider the impact the strategy has on the company's cost structure. 
D)  aims at automating much of the work in the production process. 
E)  refers to the position that the company takes concerning a product's pricing and distribution.

Question 3

Customer defection rates are:

Accepted Answer

A)  not directly related to unit cost. 
B)  an indication of a company's ability to satisfy its customers. 
C)  irrelevant as they are unlikely to impact advertising and marketing costs. 
D)  unlikely to affect sales volumes. 
E)  not affected by cost of products. 
A)  not directly related to unit cost. 
B)  an indication of a company's ability to satisfy its customers. 
C)  irrelevant as they are unlikely to impact advertising and marketing costs. 
D)  unlikely to affect sales volumes. 
E)  not affected by cost of products.

Question 4

How does a company achieve superior responsiveness to customers?

Accepted Answer

A)  By developing new product features based on customer wants 
B)  By improving the production process to become increasingly efficient 
C)  By providing customers value for their money 
D)  By establishing a relationship with customers where needs are identified and investigated 
E)  All of these are ways for a company to achieve superior responsiveness to customers. 
A)  By developing new product features based on customer wants 
B)  By improving the production process to become increasingly efficient 
C)  By providing customers value for their money 
D)  By establishing a relationship with customers where needs are identified and investigated 
E)  All of these are ways for a company to achieve superior responsiveness to customers.

Question 5

Despite definite customer demand, new products often fail due to:

Accepted Answer

A)  faster cycle time. 
B)  low customer defection rate. 
C)  poor commercialization. 
D)  increased response time. 
E)  the scramble to gain first-mover advantage. 
A)  faster cycle time. 
B)  low customer defection rate. 
C)  poor commercialization. 
D)  increased response time. 
E)  the scramble to gain first-mover advantage.

Question 6

Research and development (R&D) can help a company improve quality by:

Accepted Answer

A)  designing products that are easy to manufacture. 
B)  pursuing economies of scale. 
C)  developing strategies on how to market products. 
D)  upgrading employee skill levels. 
E)  creating teams whose members coordinate their own activities. 
A)  designing products that are easy to manufacture. 
B)  pursuing economies of scale. 
C)  developing strategies on how to market products. 
D)  upgrading employee skill levels. 
E)  creating teams whose members coordinate their own activities.

Question 7

Which of the following statements regarding customer defection is NOT true?

Accepted Answer

A)  Defection rates are determined by customer loyalty. 
B)  The longer a company retains a customer, the greater is the volume of customer-generated unit sales. 
C)  Lowering customer defection rates creates a higher cost structure. 
D)  The longer a company retains a customer, the higher the average unit cost of each sale. 
E)  There is a positive relationship between the length of time that a customer stays with a company and profit per customer. 
A)  Defection rates are determined by customer loyalty. 
B)  The longer a company retains a customer, the greater is the volume of customer-generated unit sales. 
C)  Lowering customer defection rates creates a higher cost structure. 
D)  The longer a company retains a customer, the higher the average unit cost of each sale. 
E)  There is a positive relationship between the length of time that a customer stays with a company and profit per customer.

Question 8

The challenge for a company's human resource function is to find ways to lower wages and benefits costs to the company's employees.

Accepted Answer

A) True 
 B)False

Question 9

Amazon has developed strategies for their distribution warehouses that minimizes the amount of inventory held at each location and maximizes the amount of inventory turnover. Through these strategies, they are utilizing:

Accepted Answer

A)  mass customization. 
B)  a flexible manufacturing system. 
C)  quality as reliability mantra. 
D)  supply chain management. 
E)  a just-in-time (JIT) inventory system. 
A)  mass customization. 
B)  a flexible manufacturing system. 
C)  quality as reliability mantra. 
D)  supply chain management. 
E)  a just-in-time (JIT) inventory system.

Question 10

One of the primary roles of human resources in achieving superior efficiency is:

Accepted Answer

A)  scheduling meetings among various value creation functions. 
B)  adopting aggressive marketing to ride down the experience curve. 
C)  designing products for ease of manufacture. 
D)  using information systems to automate processes. 
E)  implementing self-managing teams. 
A)  scheduling meetings among various value creation functions. 
B)  adopting aggressive marketing to ride down the experience curve. 
C)  designing products for ease of manufacture. 
D)  using information systems to automate processes. 
E)  implementing self-managing teams.

Question 11

Discuss why superior quality is important. Describe how companies can achieve superior quality.

Accepted Answer

Superior quality can help a company lowe

Question 12

Distinctive competencies shape the which of the following strategies that a company can pursue?

Accepted Answer

A)  Business level 
B)  Functional level 
C)  Corporate level 
D)  Global level 
E)  Industry level 
A)  Business level 
B)  Functional level 
C)  Corporate level 
D)  Global level 
E)  Industry level

Question 13

Economies of scale are:

Accepted Answer

A)  unit cost increases associated with learning effects. 
B)  unit cost reductions due to inferior quality of products. 
C)  realized when output is reduced to a minimum. 
D)  realized when the selling price is equal to the cost price of the products. 
E)  unit cost reductions associated with a large-scale output. 
A)  unit cost increases associated with learning effects. 
B)  unit cost reductions due to inferior quality of products. 
C)  realized when output is reduced to a minimum. 
D)  realized when the selling price is equal to the cost price of the products. 
E)  unit cost reductions associated with a large-scale output.

Question 14

Unlike traditional manufacturing, flexible manufacturing:

Accepted Answer

A)  decreases efficiency. 
B)  lowers unit costs. 
C)  limits an organization's ability to customize products. 
D)  allows the production of only standardized products. 
E)  limits an organization's ability to offer greater product variety. 
A)  decreases efficiency. 
B)  lowers unit costs. 
C)  limits an organization's ability to customize products. 
D)  allows the production of only standardized products. 
E)  limits an organization's ability to offer greater product variety.

Question 15

Customer focus is a function of only the lower levels of an organization.

Accepted Answer

A) True 
 B)False

Question 16

No matter how complex the task, learning effects typically diminish in importance after a certain time period.

Accepted Answer

A) True 
 B)False

Question 17

A television commercial for Champion Windows highlights how easy it is to custom order, the reliability and efficiency of delivery as well as the service provided by their maintenance and repair department. Which of the following attributes of Champion is this advertisement highlighting?

Accepted Answer

A)  Product attributes 
B)  Service attributes 
C)  Associated personnel attributes 
D)  Management attributes 
E)  Customer attributes 
A)  Product attributes 
B)  Service attributes 
C)  Associated personnel attributes 
D)  Management attributes 
E)  Customer attributes

Question 18

What is a consequence of the lack of integration between Research & Development (R&D) and production when innovating new products?

Accepted Answer

A)  Lack of integration lowers manufacturing costs and leaves less room for error. 
B)  Lack of integration helps lower development costs and speed products to market 
C)  Lack of integration ensures that products are designed with manufacturing requirements in mind. 
D)  Lack of integration lowers costs and increases product quality. 
E)  Lack of integration can lead to increases in time to market and development costs due to redesigns. 
A)  Lack of integration lowers manufacturing costs and leaves less room for error. 
B)  Lack of integration helps lower development costs and speed products to market 
C)  Lack of integration ensures that products are designed with manufacturing requirements in mind. 
D)  Lack of integration lowers costs and increases product quality. 
E)  Lack of integration can lead to increases in time to market and development costs due to redesigns.

Question 19

Which of the following trends has led to the fragmentation of many consumer markets?

Accepted Answer

A)  Self-managing teams 
B)  Project management 
C)  Total quality management (TQM) 
D)  Customization 
E)  Increased response time 
A)  Self-managing teams 
B)  Project management 
C)  Total quality management (TQM) 
D)  Customization 
E)  Increased response time

Question 20

Company A has a product that hasn't hit the market yet but has already constructed efficient manufacturing facilities and has lowered costs through learning effects. It has a marketing team in place that has initiated an aggressive advertising campaign with sales promotions that have stimulated demand for the product and accumulate sales volume. Which of the following is true of Company A?

Accepted Answer

A)  This strategy would help Company A move down the experience curve quickly. 
B)  This strategy would hinder Company A's move down the experience curve and allow rival companies to have a cost advantage. 
C)  This strategy would allow Company A to decrease product volume and market share. 
D)  This strategy would not allow Company A to reach superior efficiency. 
E)  This strategy would enable Company A to ride up the experience curve and gain a competitive advantage over its rivals. 
A)  This strategy would help Company A move down the experience curve quickly. 
B)  This strategy would hinder Company A's move down the experience curve and allow rival companies to have a cost advantage. 
C)  This strategy would allow Company A to decrease product volume and market share. 
D)  This strategy would not allow Company A to reach superior efficiency. 
E)  This strategy would enable Company A to ride up the experience curve and gain a competitive advantage over its rivals.

Self-managing teams:

The marketing strategy that a company adopts:

Customer defection rates are:

How does a company achieve superior responsiveness to customers?

Despite definite customer demand, new products often fail due to:

Research and development (R&D) can help a company improve quality by:

Which of the following statements regarding customer defection is NOT true?

The challenge for a company's human resource function is to find ways to lower wages and benefits costs to the company's employees.

Amazon has developed strategies for their distribution warehouses that minimizes the amount of inventory held at each location and maximizes the amount of inventory turnover. Through these strategies, they are utilizing:

One of the primary roles of human resources in achieving superior efficiency is:

Discuss why superior quality is important. Describe how companies can achieve superior quality.

Distinctive competencies shape the which of the following strategies that a company can pursue?

Economies of scale are:

Unlike traditional manufacturing, flexible manufacturing:

Customer focus is a function of only the lower levels of an organization.

No matter how complex the task, learning effects typically diminish in importance after a certain time period.

A television commercial for Champion Windows highlights how easy it is to custom order, the reliability and efficiency of delivery as well as the service provided by their maintenance and repair department. Which of the following attributes of Champion is this advertisement highlighting?

What is a consequence of the lack of integration between Research & Development (R&D) and production when innovating new products?

Which of the following trends has led to the fragmentation of many consumer markets?

Strategic Leadership: Managing the Strategy-Making Process for Competitive Advantage

External Analysis: the Identification of Opportunities and Threats

Internal Analysis: Resources and Competitive Advantage

Business-Level Strategy

Business-Level Strategy and the Industry Environment

Strategy and Technology

Strategy in the Global Environment

Corporate-Level Strategy: Horizontal Integration, Vertical Integration, and Strategic Outsourcing

Corporate-Level Strategy: Related and Unrelated Diversification

Corporate Governance, Social Responsibility, and Ethics

Implementing Strategy Through Organization

Filters

Exam 4: Competitive Advantage Through Functional-Level Strategies

Self-managing teams:

The marketing strategy that a company adopts:

Customer defection rates are:

How does a company achieve superior responsiveness to customers?

Despite definite customer demand, new products often fail due to:

Research and development (R&D) can help a company improve quality by:

Which of the following statements regarding customer defection is NOT true?

The challenge for a company's human resource function is to find ways to lower wages and benefits costs to the company's employees.

Amazon has developed strategies for their distribution warehouses that minimizes the amount of inventory held at each location and maximizes the amount of inventory turnover. Through these strategies, they are utilizing:

One of the primary roles of human resources in achieving superior efficiency is:

Discuss why superior quality is important. Describe how companies can achieve superior quality.

Distinctive competencies shape the which of the following strategies that a company can pursue?

Economies of scale are:

Unlike traditional manufacturing, flexible manufacturing:

Customer focus is a function of only the lower levels of an organization.

No matter how complex the task, learning effects typically diminish in importance after a certain time period.

A television commercial for Champion Windows highlights how easy it is to custom order, the reliability and efficiency of delivery as well as the service provided by their maintenance and repair department. Which of the following attributes of Champion is this advertisement highlighting?

What is a consequence of the lack of integration between Research & Development (R&D) and production when innovating new products?

Which of the following trends has led to the fragmentation of many consumer markets?

Strategic Leadership: Managing the Strategy-Making Process for Competitive Advantage

External Analysis: the Identification of Opportunities and Threats

Internal Analysis: Resources and Competitive Advantage

Business-Level Strategy

Business-Level Strategy and the Industry Environment

Strategy and Technology

Strategy in the Global Environment

Corporate-Level Strategy: Horizontal Integration, Vertical Integration, and Strategic Outsourcing

Corporate-Level Strategy: Related and Unrelated Diversification

Corporate Governance, Social Responsibility, and Ethics

Implementing Strategy Through Organization

Filters