Question 1

Attaining _____ includes all the other methods of achieving competitive advantage.

Accepted Answer

A)   superior efficiency
B)   superior quality
C)   superior innovation
D)   superior responsiveness to customers
E)   superior speed and flexibility D

Question 2

The first step in a stage-gate development funnel is to:

Accepted Answer

A)   draft a detailed product development plan.
B)   provide a list of technological requirements.
C)   encourage employees to come up with as many new product ideas as possible.
D)   develop a detailed developmental budget.
E)   sign a written agreement that details factors such as responsibilities and resource commitments. C

Question 3

A company with a strong _____ can create a perception of superior value in the minds of its clients by solving client problems and supporting clients after they have purchased its product.

Accepted Answer

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

Question 4

The _____ function plays a crucial role in an organization's value chain by locating customers and then informing and persuading them to buy the company's products.

Accepted Answer

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

Question 5

An automobile manufacturer redesigning the body of one of its cars to improve its aerodynamics is an example of quantum product innovation.

Accepted Answer

A) True 
 B)False

Question 6

Good value chain management requires that marketing managers focus on defining their company's business in terms of the customer needs it is satisfying and not by the type of products it makes.

Accepted Answer

A) True 
 B)False

Question 7

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

Accepted Answer

The answer of Define the two principal types of innovation....

Question 8

In a _____, machines are organized so that each operation needed to manufacture a product or process is performed at workstations arranged in a fixed sequence.

Accepted Answer

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

Question 9

What are the requirements for a cross-functional team to be successful?

Accepted Answer

The answer of What are the requirements for a cross-functional...

Question 10

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.

Accepted Answer

A)   product
B)   manufacturing
C)   service
D)   distribution
E)   supply

Question 11

A fixed-position layout is used for producing a variety of custom-made products, each tailored to the needs of a different kind of customer.

Accepted Answer

A) True 
 B)False

Question 12

The gradual improvement and refinement of existing products over time as existing technologies are perfected is called incremental product innovations.

Accepted Answer

A) True 
 B)False

Question 13

Innovation refers to producing goods and services that have attributes-such as design, styling, performance, and reliability-that customers perceive as being superior to those found in competing products.

Accepted Answer

A) True 
 B)False

Question 14

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

Accepted Answer

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

Question 15

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

Accepted Answer

The answer of What is Six Sigma? Describe the similarity...

Question 16

Which of the following is true about the impact of information systems and the Internet on companies in general?

Accepted Answer

A)   It has resulted in reduced efficiency.
B)   It has resulted in escalated costs.
C)   It has increased the number of employees required to handle customer or supplier interactions.
D)   It has increased the time required to handle requests or queries.
E)   It has allowed for production scheduling to provide components on a just-in-time basis.

Question 17

Successful implementation of TQM requires substantial cooperation between:

Accepted Answer

A)   regulators and the organization.
B)   customers and suppliers.
C)   different value chain functions.
D)   accounting and distribution functions.
E)   managers and stockholders.

Question 18

The goal of Six Sigma is to improve a company's quality to only _____ defects per million by systematically altering the way all the processes involved in value chain activities are performed.

Accepted Answer

A)   three
B)   ten
C)   thirty
D)   five
E)   three hundred

Question 19

Product development is the management of the value chain activities involved in bringing new or improved goods and services to the market.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following is true about quantum product innovations?

Accepted Answer

A)   Quantum product innovations are always more important than incremental product innovations.
B)   Quantum product innovations involve improving and refining existing products.
C)   Quantum product innovations are rarer than incremental product innovations.
D)   Quantum product innovations are more frequent than incremental product innovations.
E)   Quantum product innovations result largely from ongoing technological advances.

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

Attaining _____ includes all the other methods of achieving competitive advantage.

The first step in a stage-gate development funnel is to:

A company with a strong _____ can create a perception of superior value in the minds of its clients by solving client problems and supporting clients after they have purchased its product.

The _____ function plays a crucial role in an organization's value chain by locating customers and then informing and persuading them to buy the company's products.

An automobile manufacturer redesigning the body of one of its cars to improve its aerodynamics is an example of quantum product innovation.

Good value chain management requires that marketing managers focus on defining their company's business in terms of the customer needs it is satisfying and not by the type of products it makes.

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

In a _____, machines are organized so that each operation needed to manufacture a product or process is performed at workstations arranged in a fixed sequence.

What are the requirements for a cross-functional team to be successful?

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.

A fixed-position layout is used for producing a variety of custom-made products, each tailored to the needs of a different kind of customer.

The gradual improvement and refinement of existing products over time as existing technologies are perfected is called incremental product innovations.

Innovation refers to producing goods and services that have attributes-such as design, styling, performance, and reliability-that customers perceive as being superior to those found in competing products.

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

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

Which of the following is true about the impact of information systems and the Internet on companies in general?

Successful implementation of TQM requires substantial cooperation between:

The goal of Six Sigma is to improve a company's quality to only _____ defects per million by systematically altering the way all the processes involved in value chain activities are performed.

Product development is the management of the value chain activities involved in bringing new or improved goods and services to the market.

Which of the following is true about quantum product innovations?