Value Chain Management: Functional Strategies For Competitive Advantage

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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
Value Chain Management: Functional Strategies for Competitive Advantage
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

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Question 1

Free

True/False

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.

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False

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Question 2

Free

True/False

A value chain is a series of functional activities that convert inputs into finished goods or services that customers value.

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Question 3

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True/False

Marketing function involves research activities to create new or improved products that add value to a product.

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Question 4

Free

True/False

Good value chain management requires that marketing managers focus on the type of products it makes.

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Question 5

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True/False

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

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Question 6

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Soliciting information and suggestions about improvements from employees is one of the steps in implementing a successful TQM program.

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Question 7

True/False

According to total quality management philosophy, the managers involved in quality control or engineering define the quality.

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Question 8

True/False

The goal of Six Sigma is to improve a company's quality to only six defects per million.

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Question 9

True/False

Flexible manufacturing is a strategy based on the use of manual labor to reduce the costs associated with the product assembly process or the way services are delivered to customers.

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Question 10

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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.

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Question 11

True/False

Using the Internet to manage the value chain reduces the costs of coordination both between the company and its customers and between the company and its suppliers.

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Question 12

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Incremental product innovation results in the development of new, often radically different, kinds of goods and services because of fundamental shifts in technology brought about by pioneering discoveries.

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Question 13

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

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Question 14

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Inputs from an organization's members are sufficient for successful product development.

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Question 15

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A written agreement that details product development factors such as responsibilities, resource commitments, budgets, timelines, and development milestones is called a contract book.

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Question 16

Multiple Choice

An organization gains competitive advantage when it

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lowers costs and decreases differentiation.

increases costs and/or decreases differentiation.

increases costs and increases differentiation.

lowers costs and/or increases differentiation.

increases costs and/or lowers prices.

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Question 17

Multiple Choice

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

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make products that are much more reliable than the products available in the market

reduce the number of inputs it requires to produce a given amount of outputs

use technology to make its product unique and different when compared to its rivals'

conduct surveys to determine whether a product will be successful in the market

create products that will attract customers and charge a premium price for those products

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Question 18

Multiple Choice

A tire company's products are more expensive than those offered by its competitors, but are still sought after by customers since they are more durable and perform better under harsh conditions.The tire company, in this case, has achieved competitive advantage through

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marketing strategies.

superior quality.

quantum product innovation.

pricing strategies.

promotional strategies.

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Question 19

Multiple Choice

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

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reduce the number of components that go into its products

decrease the number of product attributes and lower the price of its products

set up a strong team to handle after-purchase support

produce products with technologies that have not been used previously

provide high-quality products to create a brand-name reputation for its products

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Question 20

Multiple Choice

Users of Adobe Reader, created by Adobe Systems Incorporated, are prompted to provide feedback on their experiences with the software in a bid to improve the product.In this case, Adobe Systems Incorporated is trying to gain a competitive advantage through

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superior efficiency.

superior infrastructure.

superior innovation.

superior speed and flexibility.

superior responsiveness to customers.

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