Question 1

Increasing materials turnover and reducing holding costs are key contributors to cost savings achieved by using a

Accepted Answer

A) just-in-time inventory strategy. 
B) quantum innovation strategy. 
C) flexible manufacturing strategy. 
D) fixed-position layout. 
E) self-managed team. 
A) just-in-time inventory strategy. 
B) quantum innovation strategy. 
C) flexible manufacturing strategy. 
D) fixed-position layout. 
E) self-managed team.

Question 2

Managers pursue functional-level strategies that allow the organization's value chain to provide

Accepted Answer

A) fewer product attributes at a consistent price. 
B) fewer product attributes at a higher price. 
C) consistent product attributes at a higher price. 
D) the same product attributes at a lower price. 
E) consistent product attributes at a consistent price. 
A) fewer product attributes at a consistent price. 
B) fewer product attributes at a higher price. 
C) consistent product attributes at a higher price. 
D) the same product attributes at a lower price. 
E) consistent product attributes at a consistent price.

Question 3

Maintaining close coordination of value chain functions such as engineering, manufacturing, and marketing throughout a product development is best achieved through using

Accepted Answer

A) total quality management. 
B) incremental innovation. 
C) a self-managed team. 
D) a cross-functional team. 
E) a stage-gate development funnel. 
A) total quality management. 
B) incremental innovation. 
C) a self-managed team. 
D) a cross-functional team. 
E) a stage-gate development funnel.

Question 4

To decrease product defects, materials managers must work closely with ________ to improve the quality of raw materials and obtained parts.

Accepted Answer

A) suppliers 
B) customers 
C) employees 
D) stockholders 
E) marketers 
A) suppliers 
B) customers 
C) employees 
D) stockholders 
E) marketers

Question 5

Over many years, Speedy Delivery has built a strong reputation and a loyal client base by ensuring all delivery issues are quickly resolved to the satisfaction of both senders and receivers. This is an example of an effective ________ function.

Accepted Answer

A) production 
B) sales 
C) customer service 
D) marketing 
E) materials management 
A) production 
B) sales 
C) customer service 
D) marketing 
E) materials management

Question 6

Quantum product innovation results in improvements and refinements of products over time as existing technologies are perfected and managers gain experience performing value chain activities.

Accepted Answer

A) True 
 B)False

Question 7

Describe the effect of flexible manufacturing and just-in-time inventory management on a company's value chain's efficiency.

Accepted Answer

Flexible manufacturing aims to reduce th

Question 8

What is Six Sigma? Describe what Six Sigma and total quality management (TQM)have in common as well as the primary difference between them.

Accepted Answer

Six Sigma is a type of TQM technique tha

Question 9

Define the two principal types of innovation. What is the main difference between them?

Accepted Answer

Quantum product innovation results in th

Question 10

Rhea's company sets specific goals for product features and reliability, offers incentives for achieving goals, and regularly solicits employee feedback on the causes of customer issues. These activities are part of a ________ system.

Accepted Answer

A) customer relationship management 
B) stage-gate development 
C) total quality management 
D) production 
E) value chain program 
A) customer relationship management 
B) stage-gate development 
C) total quality management 
D) production 
E) value chain program

Question 11

What is process reengineering? Select a company that would be prompted to pursue such an initiative and explain how reengineering could add value.

Accepted Answer

Process reengineering involves the funda

Question 12

A car detailing company charges a premium for its white-glove service. The company is booked weeks in advance due to its reputation for impeccable results and prompt resolution of any customer concern. Explain why achieving superior quality is a crucial aspect of this company's success.

Accepted Answer

Quality is a concept that can be applied

Question 13

Good value chain management requires that marketing managers focus primarily on the type of products the company makes.

Accepted Answer

A) True 
 B)False

Question 14

________ is the fundamental rethinking and radical redesign of business procedures to achieve dramatic improvements in cost, quality, service, and speed.

Accepted Answer

A) Product redesign 
B) Product research 
C) Process reengineering 
D) Flexible manufacturing 
E) Total quality management 
A) Product redesign 
B) Product research 
C) Process reengineering 
D) Flexible manufacturing 
E) Total quality management

Question 15

What is one important way that information systems and the Internet have impacted companies?

Accepted Answer

A) The value chain has become more complex and difficult to manage. 
B) Costs have escalated due to technology maintenance. 
C) More positions have become available for employees who want to handle customer interactions. 
D) The time to handle requests has increased . 
E) Suppliers are able to provide components on a just-in-time basis. 
A) The value chain has become more complex and difficult to manage. 
B) Costs have escalated due to technology maintenance. 
C) More positions have become available for employees who want to handle customer interactions. 
D) The time to handle requests has increased . 
E) Suppliers are able to provide components on a just-in-time basis.

Question 16

Each month, a team of managers evaluates new and in-progress projects and determines which ones will receive the necessary functional resources to progress in the coming month. This process demonstrates

Accepted Answer

A) brainstorming. 
B) a stage-gate development funnel. 
C) process reengineering. 
D) incremental innovation. 
E) flexible manufacturing. 
A) brainstorming. 
B) a stage-gate development funnel. 
C) process reengineering. 
D) incremental innovation. 
E) flexible manufacturing.

Question 17

Complex, difficult-to-move products are often produced using a ________ layout.

Accepted Answer

A) process 
B) fixed-position 
C) utility 
D) product 
E) sequential 
A) process 
B) fixed-position 
C) utility 
D) product 
E) sequential

Question 18

Tristan conducts service and installation visits for a cable company. He uses an online system to access a client's history and updates the system with results from all interactions. This is an example of using ________ to be responsive and build loyalty.

Accepted Answer

A) business-level strategy 
B) process reengineering 
C) customer relationship management 
D) self-managed work teams 
E) total quality management 
A) business-level strategy 
B) process reengineering 
C) customer relationship management 
D) self-managed work teams 
E) total quality management

Question 19

Involving customers and suppliers in product development, establishing a stage-gate funnel process, and creating cross-functional teams are value chain strategies that

Accepted Answer

A) ensure internal and external demands are met. 
B) exchange productivity for faster delivery. 
C) sacrifice efficiency for greater organizational buy-in. 
D) elevate management oversight. 
E) increase product innovation. 
A) ensure internal and external demands are met. 
B) exchange productivity for faster delivery. 
C) sacrifice efficiency for greater organizational buy-in. 
D) elevate management oversight. 
E) increase product innovation.

Question 20

A firm manufactures custom-made furniture. Which facilities layout would best suit the firm's needs?

Accepted Answer

A) process layout 
B) fixed-position layout 
C) sequential layout 
D) product layout 
E) flexible manufacturing layout 
A) process layout 
B) fixed-position layout 
C) sequential layout 
D) product layout 
E) flexible manufacturing layout

Increasing materials turnover and reducing holding costs are key contributors to cost savings achieved by using a

Managers pursue functional-level strategies that allow the organization's value chain to provide

Maintaining close coordination of value chain functions such as engineering, manufacturing, and marketing throughout a product development is best achieved through using

To decrease product defects, materials managers must work closely with ________ to improve the quality of raw materials and obtained parts.

Over many years, Speedy Delivery has built a strong reputation and a loyal client base by ensuring all delivery issues are quickly resolved to the satisfaction of both senders and receivers. This is an example of an effective ________ function.

Quantum product innovation results in improvements and refinements of products over time as existing technologies are perfected and managers gain experience performing value chain activities.

Describe the effect of flexible manufacturing and just-in-time inventory management on a company's value chain's efficiency.

What is Six Sigma? Describe what Six Sigma and total quality management (TQM)have in common as well as the primary difference between them.

Define the two principal types of innovation. What is the main difference between them?

Rhea's company sets specific goals for product features and reliability, offers incentives for achieving goals, and regularly solicits employee feedback on the causes of customer issues. These activities are part of a ________ system.

What is process reengineering? Select a company that would be prompted to pursue such an initiative and explain how reengineering could add value.

A car detailing company charges a premium for its white-glove service. The company is booked weeks in advance due to its reputation for impeccable results and prompt resolution of any customer concern. Explain why achieving superior quality is a crucial aspect of this company's success.

Good value chain management requires that marketing managers focus primarily on the type of products the company makes.

________ is the fundamental rethinking and radical redesign of business procedures to achieve dramatic improvements in cost, quality, service, and speed.

What is one important way that information systems and the Internet have impacted companies?

Each month, a team of managers evaluates new and in-progress projects and determines which ones will receive the necessary functional resources to progress in the coming month. This process demonstrates

Complex, difficult-to-move products are often produced using a ________ layout.

Tristan conducts service and installation visits for a cable company. He uses an online system to access a client's history and updates the system with results from all interactions. This is an example of using ________ to be responsive and build loyalty.

Involving customers and suppliers in product development, establishing a stage-gate funnel process, and creating cross-functional teams are value chain strategies that

A firm manufactures custom-made furniture. Which facilities layout would best suit the firm's needs?

Managers and Managing

The Evolution of Management Thought

Values Attitudes, Emotions, and Culture: the Manager As a Person

Ethics and Social Responsibility

Managing Diverse Employees in a Multicultural Environment

Managing in the Global Environment

Decision Making, Learning, Creativity, and Entrepreneurship

The Manager As a Planner and Strategist

Managing Organizational Structure and Culture

Organizational Control and Change

Human Resource Management

Motivation and Performance

Leadership

Effective Groups and Teams

Promoting Effective Communication

Managing Conflict, Politics, and Negotiation

Using Advanced Information Technology to Increase Performance

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Exam 9: Value Chain Management Functional Strategies for Competitive Advantage

Increasing materials turnover and reducing holding costs are key contributors to cost savings achieved by using a

Managers pursue functional-level strategies that allow the organization's value chain to provide

Maintaining close coordination of value chain functions such as engineering, manufacturing, and marketing throughout a product development is best achieved through using

To decrease product defects, materials managers must work closely with ________ to improve the quality of raw materials and obtained parts.

Over many years, Speedy Delivery has built a strong reputation and a loyal client base by ensuring all delivery issues are quickly resolved to the satisfaction of both senders and receivers. This is an example of an effective ________ function.

Quantum product innovation results in improvements and refinements of products over time as existing technologies are perfected and managers gain experience performing value chain activities.

Describe the effect of flexible manufacturing and just-in-time inventory management on a company's value chain's efficiency.

What is Six Sigma? Describe what Six Sigma and total quality management (TQM)have in common as well as the primary difference between them.

Define the two principal types of innovation. What is the main difference between them?

Rhea's company sets specific goals for product features and reliability, offers incentives for achieving goals, and regularly solicits employee feedback on the causes of customer issues. These activities are part of a ________ system.

What is process reengineering? Select a company that would be prompted to pursue such an initiative and explain how reengineering could add value.

A car detailing company charges a premium for its white-glove service. The company is booked weeks in advance due to its reputation for impeccable results and prompt resolution of any customer concern. Explain why achieving superior quality is a crucial aspect of this company's success.

Good value chain management requires that marketing managers focus primarily on the type of products the company makes.

________ is the fundamental rethinking and radical redesign of business procedures to achieve dramatic improvements in cost, quality, service, and speed.

What is one important way that information systems and the Internet have impacted companies?

Each month, a team of managers evaluates new and in-progress projects and determines which ones will receive the necessary functional resources to progress in the coming month. This process demonstrates

Complex, difficult-to-move products are often produced using a ________ layout.

Tristan conducts service and installation visits for a cable company. He uses an online system to access a client's history and updates the system with results from all interactions. This is an example of using ________ to be responsive and build loyalty.

Involving customers and suppliers in product development, establishing a stage-gate funnel process, and creating cross-functional teams are value chain strategies that

A firm manufactures custom-made furniture. Which facilities layout would best suit the firm's needs?

Managers and Managing

The Evolution of Management Thought

Values Attitudes, Emotions, and Culture: the Manager As a Person

Ethics and Social Responsibility

Managing Diverse Employees in a Multicultural Environment

Managing in the Global Environment

Decision Making, Learning, Creativity, and Entrepreneurship

The Manager As a Planner and Strategist

Managing Organizational Structure and Culture

Organizational Control and Change

Human Resource Management

Motivation and Performance

Leadership

Effective Groups and Teams

Promoting Effective Communication

Managing Conflict, Politics, and Negotiation

Using Advanced Information Technology to Increase Performance

Filters