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

List and briefly explain the three basic facilities layouts or ways of arranging workstations with an example of the type of products produced by each type.

The implementation of customer relationship management (CRM) is a method of

Which of the following is true about total quality management?

An organization's audit revealed that its customer support system is the least effective department.The customer support system is a major source of the organization's _____ defects.

What is total quality management (TQM)? List the 10 steps necessary to implement a successful TQM program.

_____ is the fundamental rethinking and radical redesign of business procedures to achieve dramatic improvements in critical measures of performance such as cost, quality, service, and speed.

The Donut House, a large donut bakery with outlets across several cities, improves the quality of the dough it uses and introduces a wide range of toppings and glazes to go with its donuts.This is an example of

The _____ plan specifies all of the relevant information that managers need to decide whether to go ahead with a full-blown product development effort.

A firm manufactures custom-made furniture based on customer specifications.Which of the following facilities layouts would best suit the firm's needs?

The _____ the input resources required to produce a given volume of output, the _____ will be the efficiency of the operating system.

What is Six Sigma? Describe the similarity as well as the difference between Six Sigma and TQM.

_______ is the management of the value chain activities that bring new products or services to market.

Which of the following must managers in product development avoid to promote innovation and speed up product development?

Illumin, a light bulb manufacturing company, strives to improve the longevity and brightness of its bulbs by continuously changing designs and trying different combinations of materials and component parts while manufacturing them.This is an example of

A bicycle manufacturing company has been in business for two decades, and their products are well known for durability and ride quality.Satisfying customers is important, so the company responds to customer demand by providing products that have the desired attributes-quality, cost, and features.However, customer demand changes.Describe a functional strategy that the company can use to get close to customers and understand their needs.

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

_________ is the stock of raw materials, inputs, and component parts that an organization has on hand at a particular time.

Discuss the stages of a stage-gate development funnel.

Great cost savings can result from _____ inventory turnover and _____ inventory holding costs, such as warehousing and storage costs.

A _____ is a small, wheeled container used in a just-in-time inventory system to move component parts from suppliers to the assembly line.