Question 1

Which of the following should an organization do in order to obtain a competitive advantage through superior efficiency?

Accepted Answer

A)  Make products that are much more reliable than the products available in the market 
B)  Reduce the number of inputs it requires to produce a given amount of outputs 
C)  Use technology to make its product unique and different when compared to its rivals' 
D)  Conduct surveys to determine whether a product will be successful in the market 
E)  Create products that will attract customers and charge a premium price for those products 
A)  Make products that are much more reliable than the products available in the market 
B)  Reduce the number of inputs it requires to produce a given amount of outputs 
C)  Use technology to make its product unique and different when compared to its rivals' 
D)  Conduct surveys to determine whether a product will be successful in the market 
E)  Create products that will attract customers and charge a premium price for those products

Question 2

A(n) _____ is a coordinated series or sequence of functional activities needed to transform inputs into finished goods or services.

Accepted Answer

A)  operating system 
B)  marketing function 
C)  organizational hierarchy 
D)  value chain 
E)  customer relationship management system 
A)  operating system 
B)  marketing function 
C)  organizational hierarchy 
D)  value chain 
E)  customer relationship management system

Question 3

An organization that increases its quality can improve its profits by _____ the prices of its products due to increased reliability and _____ its operating costs due to increased productivity.

Accepted Answer

A)  decreasing; reducing 
B)  reducing; increasing 
C)  increasing; increasing 
D)  increasing; reducing 
E)  discounting; increasing 
A)  decreasing; reducing 
B)  reducing; increasing 
C)  increasing; increasing 
D)  increasing; reducing 
E)  discounting; increasing

Question 4

The just-in-time view of inventory leads an organization to stockpile excess inputs in a warehouse in case it needs them to meet sudden upturns in demand.

Accepted Answer

A) True 
 B)False

Question 5

Higher product quality can increase efficiency and thereby lower operating costs.

Accepted Answer

A) True 
 B)False

Question 6

The management of the value-chain activities that bring new products or services to market is called _____.

Accepted Answer

A)  product promotion 
B)  total quality management 
C)  product positioning 
D)  process reengineering 
E)  product development 
A)  product promotion 
B)  total quality management 
C)  product positioning 
D)  process reengineering 
E)  product development

Question 7

_____ is a measure of how well an organization's input resources are used to produce its outputs.

Accepted Answer

A)  Efficiency 
B)  Quality 
C)  Reliability 
D)  Flexibility 
E)  Responsiveness 
A)  Efficiency 
B)  Quality 
C)  Reliability 
D)  Flexibility 
E)  Responsiveness

Question 8

The gradual improvement and refinement of existing products over time as existing technologies are perfected is known as _____.

Accepted Answer

A)  quantum process innovation 
B)  quantum product innovation 
C)  incremental product innovation 
D)  incremental process innovation 
E)  process reengineering 
A)  quantum process innovation 
B)  quantum product innovation 
C)  incremental product innovation 
D)  incremental process innovation 
E)  process reengineering

Question 9

_____ is a strategy based on the use of IT to reduce the costs associated with the product assembly process or the way services are delivered to customers.

Accepted Answer

A)  Six Sigma 
B)  Flexible manufacturing 
C)  Process reengineering 
D)  Niche marketing 
E)  Customer relationship management 
A)  Six Sigma 
B)  Flexible manufacturing 
C)  Process reengineering 
D)  Niche marketing 
E)  Customer relationship management

Question 10

Which of the following functions can help increase customer perceptions of the utility of a company's product through brand positioning and advertising?

Accepted Answer

A)  Design 
B)  Materials management 
C)  Production 
D)  Marketing 
E)  Customer service 
A)  Design 
B)  Materials management 
C)  Production 
D)  Marketing 
E)  Customer service

Question 11

Which of the following functions is responsible for transforming creating, assembling, or providing a good or service?

Accepted Answer

A)  Materials management 
B)  Production 
C)  Customer service 
D)  Marketing 
E)  Sales 
A)  Materials management 
B)  Production 
C)  Customer service 
D)  Marketing 
E)  Sales

Which of the following should an organization do in order to obtain a competitive advantage through superior efficiency?

A(n) _____ is a coordinated series or sequence of functional activities needed to transform inputs into finished goods or services.

An organization that increases its quality can improve its profits by _ the prices of its products due to increased reliability and _ its operating costs due to increased productivity.

The just-in-time view of inventory leads an organization to stockpile excess inputs in a warehouse in case it needs them to meet sudden upturns in demand.

Higher product quality can increase efficiency and thereby lower operating costs.

The management of the value-chain activities that bring new products or services to market is called _____.

_____ is a measure of how well an organization's input resources are used to produce its outputs.

The gradual improvement and refinement of existing products over time as existing technologies are perfected is known as _____.

_____ is a strategy based on the use of IT to reduce the costs associated with the product assembly process or the way services are delivered to customers.

Which of the following functions can help increase customer perceptions of the utility of a company's product through brand positioning and advertising?

Which of the following functions is responsible for transforming creating, assembling, or providing a good or service?

Managers and Managing

The Evolution of Management

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 a Strategist

Managing Organizational Structure and Culture

Organizational Control and Change

Human Resource Management

Motivation Performance

Leadership

Effective Groups and Teams

Promoting Effective Communication

Managing Conflict, Politics, and Negotiation

Used Advanced Information Technology to Increase Performance

Filters

Exam 9: Value Chain Management: Functional Strategies for Competitive Advantage

Which of the following should an organization do in order to obtain a competitive advantage through superior efficiency?

A(n) _____ is a coordinated series or sequence of functional activities needed to transform inputs into finished goods or services.

An organization that increases its quality can improve its profits by _____ the prices of its products due to increased reliability and _____ its operating costs due to increased productivity.

The just-in-time view of inventory leads an organization to stockpile excess inputs in a warehouse in case it needs them to meet sudden upturns in demand.

Higher product quality can increase efficiency and thereby lower operating costs.

The management of the value-chain activities that bring new products or services to market is called _____.

_____ is a measure of how well an organization's input resources are used to produce its outputs.

The gradual improvement and refinement of existing products over time as existing technologies are perfected is known as _____.

_____ is a strategy based on the use of IT to reduce the costs associated with the product assembly process or the way services are delivered to customers.

Which of the following functions can help increase customer perceptions of the utility of a company's product through brand positioning and advertising?

Which of the following functions is responsible for transforming creating, assembling, or providing a good or service?

Managers and Managing

The Evolution of Management

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 a Strategist

Managing Organizational Structure and Culture

Organizational Control and Change

Human Resource Management

Motivation Performance

Leadership

Effective Groups and Teams

Promoting Effective Communication

Managing Conflict, Politics, and Negotiation

Used Advanced Information Technology to Increase Performance

Filters

An organization that increases its quality can improve its profits by _ the prices of its products due to increased reliability and _ its operating costs due to increased productivity.