Question 1

Discuss the four specific ways in which managers can lower costs and/or increase differentiation to obtain a competitive advantage.

Accepted Answer

The answer of Discuss the four specific ways in which...

Question 2

Output goals and targets need to only include numbers or quotas.

Accepted Answer

A) True 
 B)False

Question 3

Successful product development requires inputs from:

Accepted Answer

A) Employees only 
B) Customers only 
C) Suppliers only 
D) Employees and customers but not suppliers 
E) Employees,customers,and suppliers

Question 4

The fewer the inputs required to produce a given output,the lower is the efficiency and the higher the cost of outputs.

Accepted Answer

A) True 
 B)False

Question 5

The stock of raw materials,inputs,and component parts that an organization has on hand at a particular time is called:

Accepted Answer

A) Storage 
B) Inventory 
C) Products 
D) Stored components 
E) Holdings

Question 6

Southwest's low-cost operating system focuses value chain management.

Accepted Answer

A) True 
 B)False

Question 7

Managers know that the more desired product attributes a company's value chain builds into its products,the lower the price charged to the consumer.

Accepted Answer

A) True 
 B)False

Question 8

The members of a team who bear primary responsibility for the success of a project and who stay with a project from inception to completion are called:

Accepted Answer

A) Contract members 
B) Core members 
C) Product development team 
D) Developmental members 
E) Founding members

Question 9

A favorable outcome of flexible manufacturing is that a company is able to produce many more varieties of a product than before,in the same amount of time.

Accepted Answer

A) True 
 B)False

Question 10

Each functional activity along the chain adds value to the product when it lowers costs or gives the product differentiated qualities that increase the price a company can charge for it.

Accepted Answer

A) True 
 B)False

Question 11

Successful innovation gives an organization something different about its products that can strengthen its competitive advantage.

Accepted Answer

A) True 
 B)False

Question 12

Discuss the stages of the stage-gate development funnel.

Accepted Answer

The answer of Discuss the stages of the stage-gate development...

Question 13

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

Accepted Answer

A) Product innovation 
B) TQM 
C) CRM 
D) JIT 
E) Product development

Question 14

Bob makes custom made furniture that is tailored to the needs of a different kind of customer.Which layout would best suit Bob's needs?

Accepted Answer

A) Process layout 
B) Permanent-position layout 
C) Facilities layout 
D) Product layout 
E) Flexible manufacturing layout

Question 15

Incremental product innovations are relatively rare;most managers' activities focus on quantum product innovations.

Accepted Answer

A) True 
 B)False

Question 16

What is Six Sigma? How does it differ from TQM?

Accepted Answer

The answer of What is Six Sigma? How does it...

Question 17

There are ten steps necessary to make a TQM control system work.

Accepted Answer

A) True 
 B)False

Question 18

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) Fixed-position layout 
C) Facilities layout 
D) Product layout 
E) Flexible manufacturing layout

Question 19

By using self-managed teams,organizations can often realize a 30% or more increase in efficiency.

Accepted Answer

A) True 
 B)False

Question 20

One functional strategy managers can use to get close to customers and understand their needs is value chain management.

Accepted Answer

A) True 
 B)False

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

Discuss the four specific ways in which managers can lower costs and/or increase differentiation to obtain a competitive advantage.

Output goals and targets need to only include numbers or quotas.

Successful product development requires inputs from:

The fewer the inputs required to produce a given output,the lower is the efficiency and the higher the cost of outputs.

The stock of raw materials,inputs,and component parts that an organization has on hand at a particular time is called:

Southwest's low-cost operating system focuses value chain management.

Managers know that the more desired product attributes a company's value chain builds into its products,the lower the price charged to the consumer.

The members of a team who bear primary responsibility for the success of a project and who stay with a project from inception to completion are called:

A favorable outcome of flexible manufacturing is that a company is able to produce many more varieties of a product than before,in the same amount of time.

Each functional activity along the chain adds value to the product when it lowers costs or gives the product differentiated qualities that increase the price a company can charge for it.

Successful innovation gives an organization something different about its products that can strengthen its competitive advantage.

Discuss the stages of the stage-gate development funnel.

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

Bob makes custom made furniture that is tailored to the needs of a different kind of customer.Which layout would best suit Bob's needs?

Incremental product innovations are relatively rare;most managers' activities focus on quantum product innovations.

What is Six Sigma? How does it differ from TQM?

There are ten steps necessary to make a TQM control system work.

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.

By using self-managed teams,organizations can often realize a 30% or more increase in efficiency.

One functional strategy managers can use to get close to customers and understand their needs is value chain management.