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

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

The skills,know-how,experience,scientific knowledge,tools,machines,computers,and equipment used in the design,production and distribution of goods and services are called:

The development of a set of functional-level strategies to increase the performance of the operating system a company uses to transform inputs into finished goods and services is known as:

Art,the owner of Arts Electronics,calls every customer 10 days after their purchase to ensure they are satisfied with home electronics purchase.Art is using the ______ function which can create a perception of superior value by supporting customers after they have purchased the product.

In a manufacturing company,a major source of costs always related to making a product is the costs associated with:

To decrease product defects,materials managers must work closely with ______ to improve the quality of the parts.

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

In the TQM process,once a measure has been set for comparison,the next step is to:

Quantum product innovations __________.

One of the biggest mistakes that product development managers make is:

Six Sigma shares with TQM its focus on improving value chain processes to increase:

A written agreement that details factors such as responsibilities,resource commitments,budgets,time lines,and development milestones is referred to as a:

One reason for Southwest's success is that it has pursued strategies that produce services that are:

All of the following are ways to create a competitive advantage EXCEPT:

Higher product quality can:

People often respond poorly to being given greater autonomy and responsibility,so the use of empowered self-managed teams often decreases productivity and efficiency.

Managers must seek to improve responsiveness to customers by offering a level of responsiveness to customers that causes the operating system to sustain a small loss.

Managers need to recognize that successful innovation and product development cut across roles and functions and require a high level of:

Many organizations run ______ that reward employees whose ideas eventually make it through the development process.

Managers try to develop functional strategies that allow the organization's value chain to deliver to customers: