Exam 2: Strategy

The job of operations and supply chain strategy is to deliver the most feature-rich, highest quality product at the lowest price within specified parameters of delivery time and customization.

Larry's Auto Body Repair Shop had revenues that averaged $60,000 per week in April and $50,000 per week in May. During both months, the shop employed six full-time (40 hours ÷ week) workers. In April the firm also had four part-time workers working 25 hours per week, but in May there were only two part-time workers and they only worked 10 hours per week. What is the percentage change in labor productivity from April to May for Larry's Auto Body Repair?

An operations strategy must resist change because of the long-term nature of equipment and personnel investments.

Operations risk is the likelihood of a disruption that would impact the ability of a company to continuously supply products or services.

Which of the following is a total measure of productivity?

If all you knew about a production system was that total daily output was 400 units and the total labor necessary to produce the 400 units was 350 hours, and the total materials used were 425 units, what kind of productivity measure(s) could you use to compute productivity?

One of the competitive dimensions that forms the competitive position of a company when planning its strategies is making the best trade-off.

The process where a company seeks to match the benefits of a successful position while maintaining its existing position by adding new features, services, and technologies into its current portfolio is called straddling.

The nature of risks lends them to a three-step risk management process that can be applied to situations where disruptions are possible. There are three steps to the process. Which of the following is not one of those steps?

An operation can excel simultaneously on all competitive dimensions. This is what makes a truly great operations company.

In development of an operations and supply chain strategy, which of the following may be an important product-specific criteria to consider?

What is the process called where a company seeks to match the benefits of a successful position while maintaining its existing position in offering customers a variety of differing services?

The process where a company seeks to match the benefits of a successful position while maintaining its existing position by adding new features, services, and technologies into its current portfolio is called flexibility.

The social impact of the triple bottom line concept pertains to fair and beneficial business practices toward labor, the community, and the region in which a firm conducts its business.

A process has a total measure of productivity of 1.41 and total inputs of 9,050. What was the output?

A process has a total measure of productivity of 1.26 and output of 15,000. What are the total inputs?

Operations and supply chain strategy can be viewed as part of a planning process that coordinates operational goals with those of the larger organization.

Which of the following is not a major strategic operational competitive dimension that forms a company's competitive position?

By following a straddling strategy, firms can broaden their capabilities and effectively compete with more focused firms in markets requiring low cost for success.

Operations effectiveness relates to the profitability of the core business processes.